Silver surged more than 4% to above $66 per ounce on Wednesday, hitting fresh all-time highs as investors increasingly price in two interest rate cuts in early 2026. Support came from comments by Fed Governor Christopher Waller, a leading contender for the Fed chair role, who said US borrowing costs should be up to one percentage point lower. Waller warned that job growth has slowed to near zero and called for measured rate cuts next year to help support employment. Earlier in the week, US labor data reinforced signs of a cooling job market. The unemployment rate climbed to 4.6%, its...
The Nikkei 225 Index dropped 0.88% to 41,939 while the broader Topix Index slid 1.07% to 3,049 on Wednesday, reversing prior gains and tracking Wall Street's losses. US stocks tumbled overnight as rising global bond yields, persistent economic uncertainty and renewed trade tensions pressured sentiment. Domestically, Bank of Japan Governor Kazuo Ueda reaffirmed Wednesday that the bank's stance on rate hikes remains unchanged if growth and inflation evolve as expected. Investors now look to upcoming Japanese wage data later this week for guidance on the policy path. Index heavyweights led...
The Hang Seng Index has opened positively, gaining 164 points or 0.64%, reaching 25,660 points. The National Enterprises Index rose by 65 points, equivalent to a 0.71% increase, now standing at 9,173 points, while the Technology Index climbed 56 points, or 0.99%, to 5,785 points. Technology stocks showed strong performance, with Tencent rising by 1%, Alibaba increasing by 1.3%, and Meituan slightly down by 0.1%. Xiaomi Group saw a rise of 1.9%, JD.com surged by 2.6%, and Kuaishou gained 0.7%. In the financial sector, stocks exhibited mixed results; HSBC Holdings fell by 0.1%, while AIA...
Japanese stocks are trading lower, tracking overnight losses on Wall Street as inflation fears due to rising bond yields weigh on the index. Automobile and financial stocks are weighing on the index. Toyota and Honda are down 0.2% and 0.5%, respectively. Sumitomo Mitsui Financial is down 0.9%, while Mitsubishi UFJ Financial is 0.7% lower. Index heavyweight SoftBank Group is down 2.8%. USD/JPY is down 0.1% at 148.56. The Nikkei Stock Average is down 0.4% at 42132.41. Source: Bloomberg
Asia-Pacific markets mostly fell Wednesday, tracking losses on Wall Street as investors assessed rising global bond yields and the latest developments on the trade front. Australia's S&P/ASX 200 declined by 0.52%, ahead of the release of its GDP reading for the second quarter ended June. Economists polled by Reuters forecast a 1.6% expansion from the year before, compared to the 1.3% posted in the previous quarter ended March. Japan's Nikkei 225 lost 0.43%, while the broader Topix index moved down 0.35%. Over in South Korea, the Kospi index ticked up 0.16%, while the small-cap Kosdaq...
In his first press conference in a week, President Donald Trump dismissed rumors of his death circulating on social media. In a casual tone, Trump called the reports "fake news," while emphasizing that he was actively engaging through interviews, social media posts, and visits to his golf club in Virginia. The White House Press Office added that he was in good physical condition despite suffering from chronic venous insufficiency, a common condition associated with aging, with no serious complications. Furthermore, Trump announced that the headquarters of U.S. Space Command would be moved...
The S&P 500 closed lower on Tuesday, as the tech wreck continued pressured by tariff uncertainty and a jump in bond yields. The main averages on Wall Street were closed on Monday in observance of the Labor Day holiday. At the end of the last trading day on Friday, stocks dipped, weighed down partially by declines in artificial intelligence-related names. Sticky personal consumption expenditure price index data also sparked some doubts over just how much impetus the Federal Reserve has to cut rates. President Donald Trump said he would request the Supreme Court deliver an expedited...
European stocks closed sharply lower on Tuesday, tracking a broad selloff in global equities amid the rise in long-term borrowing costs, while markets parsed the latest inflation data. The annual inflation rate in the Eurozone inched higher to 2.1%, while the core rate refrained from dropping for a third month to stoke lingering concerns of stubborn services inflation. The data coincided with a fresh record in European bond issuance in one session amid major sales in the UK and Italy, adding strain to long-dated securities. The tight credit conditions pressured the heavyweight banking...
US stocks remained weak on Tuesday, tracking a global equity decline amid growing concerns about the overvalued technology sector and unsustainable fiscal conditions. The S&P 500 and Nasdaq 100 fell more than 1%, while the Dow Jones Industrial Average fell 400 points. Nvidia and Qualcomm both fell 3% due to lingering skepticism about future returns from artificial intelligence technology, prompting investors to reconsider their large positions in software and hardware companies. Meanwhile, long-term bonds slumped amid concerns about overly expansionary fiscal policy supported by 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....