Gold prices strengthened as we entered the European session today, Wednesday (December 17th), holding around $4,320 per ounce and remaining close to October's record high of $4,381. This strengthening occurred after the market returned to seeking safe haven assets while awaiting the next major data from the US. The main drivers came from the US agenda: market participants were focused on Thursday's CPI inflation release and a series of comments from central bank officials. After the latest mixed employment data, the market didn't feel there was enough reason to aggressively increase...
The Hang Seng Index fell 128 points, or 0.5%, to close at 26,829 on Wednesday, declining for a third straight session as sector-wide weakness gripped the market. The technology index fell 0.6%, tracking Wall Street's losses after Oracle fell on margin concerns. Shares of tech giant Alibaba fell 1.6%, while Baidu (-3.2%), Meituan (-2.3%), and SMIC (-1.8%) posted sharp losses, as US lawmakers reportedly pushed for broader restrictions on chip-making equipment exports to China. Financial and consumer staples stocks also weakened, weighed down by concerns over China's slowing economic recovery,...
The Nikkei 225 index fell 0.45% to 47,735 on Wednesday, retreating from a record high as investors took profits following a rally fueled by expectations of stimulus under PM-elect Sanae Takaichi (the Abenomics line). Weaker wage data also dampened prospects for a BoJ interest rate hike, with real wages falling by -1.4% year-on-year in August, an eighth straight month of decline. The technology sector also followed Wall Street lower after Oracle's plunge rekindled concerns about the sustainability of AI trading. Uncertainty was further compounded by the prolonged US government shutdown....
The Hong Kong stock exchange plunged after a long holiday. The Hang Seng opened down 57 points (26,900), was hit by intense selling to 26,520, and closed down 380 points (-1.41%) at 26,577. The China Enterprise Index ended down 1.5% (9,429), while the Technology Index fell 1.94% (6,422). Tech led the decline: Tencent -1%, Alibaba -2.9%, Meituan -2%, Xiaomi -1%, JD.com -2.7%, Kuaishou -2.9%, and Baidu -5%. The financial sector also slumped: HSBC -1.3%, AIA -0.6%, Ping An -1.6%, and HKEX -1.3%. Main board turnover: HK$40.4 billion. Gold's rally to a new record fueled mixed performance among...
Wednesday, October 8, 2025 - The Nikkei index moved flat at 47,937.70, as gains in heavy industry and pharmaceutical stocks offset the decline in chip companies. The IHI rose 4.3% and Daiichi Sankyo strengthened 3.5%, while Tokyo Electron fell 1.6% and Advantest weakened 1.2%. The weaker yen also provided support to the market, as it typically benefits exporters. USD/JPY was at 152.25, up sharply from 150.69 at Tuesday's close, thus boosting sentiment for export-related sectors. Investors' focus is now on the details of potential policy steps Sanae Takaichi may take after being elected LDP...
Asia-Pacific markets traded mixed Wednesday, breaking ranks from Wall Street losses, after the World Bank raised the region's growth forecast Tuesday. That comes after a summer that saw U.S. tariff-led uncertainty rock the global economy. Japan's benchmark Nikkei 225 was little changed, while the the Topix added 0.62%. Australia's ASX/S&P 200 fell 0.3%. Futures for Hong Kong's Hang Seng index stood at 27,165, higher than its Tuesday close of 26,957.77. Mainland China and South Korean markets are closed for the holidays. The Bank of Thailand and Reserve Bank of New Zealand are set...
US stocks retreated from record highs on Tuesday as investors weighed the ongoing government shutdown against hopes for AI-driven growth. The S&P 500 fell 0.4% for the first time in 8 days, the Nasdaq lost 0.8%, and the Dow fell 99 points, pressured by a steep sell-off in Oracle shares after weaker-than-expected cloud margin reports. Tesla slipped 4.4% after unveiling a low-cost Model Y, Ford tumbled 7.6% over a supplier fire, and gold futures surged past $4,000 per ounce as investors sought safe havens. Economically sensitive sectors, including homebuilding, airlines, and transport,...
European stock markets edged mostly lower on Tuesday, as investors kept tabs on ongoing political turbulence in France and the United States that threatened to dampen enthusiasm around artificial intelligence dealmaking. The pan-European Stoxx 600 slipped by 0.2% and the Dax in Germany fell by 0.1%. The FTSE 100 in the United Kingdom and the CAC 40 in France were both mostly flat. The CAC 40 fell sharply on Monday on news of a surprise resignation of the country's new Prime Minister, Sebastien Lecornu. Two days of last-minute discussions between the outgoing Lecornu and members of several...
The S&P 500 rose slightly on Tuesday as Wall Street looked for more developments out of Washington on the current U.S. government shutdown that is now in its second week. The broad market index climbed 0.1%, while the Nasdaq Composite gained 0.2%. The Dow Jones Industrial Average traded around the flatline. Hopes that the government would reopen on Monday were dashed after the Senate for a fifth time failed to pass a House bill that would have funded the government through Nov. 21. The chamber voted mostly along party lines. At least eight Democrats need to join Republicans to meet the...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....