The US dollar index fluctuated around 98.4 on Friday (December 19) and is expected to close the week relatively unchanged. Investors are still weighing the chances of a Federal Reserve interest rate cut next year, as inflation continues to decline and signs of weakness in the US labor market emerge. The latest inflation data indicates price pressures are easing. The November CPI report showed headline inflation fell to 2.7%, the lowest since July and below market expectations. Core inflation also weakened to 2.6%, the slowest pace since early 2021. Meanwhile, the unemployment rate rose to...
The Hang Seng jumped 644 points or 2.6% to finish at 25,614 on Wednesday, notching its highest level in two weeks while marking the largest one-day rise since mid-May. It was the second straight advance, with all sectors rallying. Sentiment was boosted by China's year-long plan to subsidize consumer loan interest—90% funded by the central government and 10% by provinces—to spur household spending. A strong Wall Street session on Tuesday also supported risk appetite, as slower U.S. inflation data reinforced bets of a Fed rate cut in September and suggested limited pass-through from U.S....
European stocks rose, following U.S. stocks that closed at record highs, as easing concerns about price pressures fueled speculation of a Federal Reserve interest rate cut in September. The Stoxx Europe 600 Index rose 0.5% as of 8:24 a.m. in London, trading at its highest level in nearly two weeks. Technology and construction stocks led the gains, while energy stocks led the declines. In individual stocks, Vestas Wind Systems A/S fell as the Danish wind turbine company's quarterly failure to achieve profitability raised questions about its margin targets for the year. Nordic Semiconductor...
The Nikkei 225 index rose 1.3% to close at 43,275 on Wednesday (August 13), while the Topix index rose 0.83% to 3,092. Both benchmark indexes set new record highs, extending positive sentiment following the overnight Wall Street rally. This rise was supported by US inflation data, which reinforced expectations for a Federal Reserve interest rate cut next month, along with a solid Japanese corporate earnings season. The combination of the two maintained buying momentum in large-cap stocks. Domestically, manufacturer sentiment improved for the second consecutive month in August, following...
Hong Kong stocks rallied in Wednesday morning trading, with the benchmark index rising 357 points, or 1.4%, to 25,324. This increase extended the rally into a second session and brought the market to a two-week high, with broad-based gains across most sectors. Positive sentiment came from Wall Street, which posted solid gains overnight after weaker US inflation data. The data reinforced speculation that the Federal Reserve could cut interest rates in September to support the improving labor market. In mainland China, markets also rallied to a three-year high. The main boost came from the...
Japanese stocks are higher as lower-than-expected U.S. inflation keeps expectations for Federal Reserve rate cuts intact. Electronics and auto stocks are leading gains. Advantest is up 3.5% and Subaru Corp. is 2.2% higher. USD/JPY is at 147.85, compared with 148.28 as of Tuesday's Tokyo stock market close. Investors are closely watching any U.S. tariff news as well as domestic political developments. The Nikkei Stock Average is up 0.8% at 43058.55, after closing at a record high on Tuesday. Source : Dow Jones Newswires
Wall Street's major indexes rose on Tuesday, with the S&P 500 and Nasdaq hitting record highs, gaining 1.1% and 1.4% respectively, after July's inflation data largely met expectations. The Consumer Price Index increased 0.2% month-over-month and 2.7% year-over-year, easing concerns about rising prices amid ongoing trade tensions. This bolstered expectations for a Federal Reserve rate cut next month, with traders pricing in about a 90% chance of a 25-basis-point reduction in September. The Dow climbed 483 points, supported by easing trade tensions after President Trump extended a 90-day...
US stocks traded higher on Tuesday, with the three major averages up about 0.5%, as the latest CPI report bolstered expectations of a Fed rate cut next month. Headline annual inflation held at 2.7% in July, below the 2.8% forecast, while core inflation accelerated more than expected to 3.1%. The figures indicated that tariff-related price pressures remain limited so far, giving the Fed room to deliver a 25 bps cut in September. Rate-cut odds, which were at 88% late yesterday, have now climbed to nearly 93%. Sentiment was also lifted after President Trump extended the suspension of steep...
The Hang Seng rose 63 points or 0.25% to close at 24,970 on Tuesday, swinging from early losses and marking the second straight gain. Sentiment finally improved after Washington and Beijing extended their tariff truce by another 90 days, averting triple-digit duties on Chinese exports to the U.S. Meanwhile, mainland markets have trended higher in recent weeks as investors look ahead to October's key annual conclave, expected to focus on the next five-year economic plan. On the economic front, China's vehicle sales grew 14.7% yoy in July, accelerating from June's 13.8%, according to 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....