Federal Reserve Governor Christopher Waller said on Thursday he continues to believe the U.S. central bank should cut interest rates at the end of this month amid mounting risks to the economy and the strong likelihood that tariff-induced inflation will not drive a persistent rise in price pressures. "It makes sense to cut the FOMC's policy rate by 25 basis points two weeks from now," Waller told a gathering of the Money Marketeers of New York University. "I see the hard and soft data on economic activity and the labor market as consistent: The economy is still growing, but its momentum...
The Hang Seng jumped 439 points, or 2.1%, to close at 21,007 on Tuesday, rising for a third session to its highest in more than 2 weeks after Chinese Premier Li Qiang said Beijing has plenty of room for fiscal and monetary policy and that China will meet its 2024 GDP growth target of around 5%. Meanwhile, private survey data showed China's services sector expanded the most in 3 months in October, following a series of support measures in late September. At the same time, Hong Kong's private sector growth hit a 1-1/2-year high last month. Adding to the upbeat mood was a modest rise in U.S....
European stocks are headed for a weak start to the trading day as global markets prepare for Tuesday's US presidential election, with the outcome of the vote looking too close to call between former President Donald Trump and current Vice President Kamala Harris. The UK's FTSE 100 is expected to open 15 points lower at 8,177, Germany's DAX is down 12 points at 19,149, France's CAC is down 1 point at 7,374 and Italy's FTSE MIB is up 73 points at 34,358, according to data from IG. Earnings are due to come from Saudi Aramco, Adecco, Schaeffler, Deutsche Post DHL, Zalando, Hugo Boss, Bouygues,...
The Nikkei 225 Index jumped 1.11% to close at 38,475 while the broader Topix Index gained 0.76% to 2,664 in post-holiday trade on Tuesday, as a solid corporate outlook, helped in part by a weaker yen, supported Japanese equities. Sentiment also improved after Japan extended its trading hours by 30 minutes from Tuesday to encourage more stock market activity, the first such move in 70 years. Meanwhile, investors remained cautious ahead of the closely contested US presidential election and the latest Federal Reserve rate decision. Technology stocks led the charge, with strong gains from Disco...
The Hong Kong market opened lower on Tuesday, with investors' attention focused on the US presidential election, and a central bank meeting this week. The Hang Seng Index fell 157.58 points, or 0.77 percent, to open at 20,409.94. On Wall Street overnight, blue chip indices closed lower ahead of the presidential vote and a key US Federal Reserve meeting later this week, the Dow fell 0.6 percent, the S&P lost or 0.3 percent and the Nasdaq also shed 0.3 percent. Source : rthk.hk
The Nikkei 225 Index jumped 1.1% to above 38,400 while the broader Topix Index gained 0.4% to 2,655 in post-holiday trade on Tuesday, as a solid corporate outlook, helped in part by a weaker yen, supported Japanese equities. Investors also continued to assess the monetary policy outlook in the country after the Bank of Japan held interest rates steady at 0.25% last week and highlighted diminishing global economic risks that could set the stage for further rate hikes. Meanwhile, investors remained cautious ahead of the closely contested US presidential election and the latest Federal...
According to a statement by the Federal Reserve (Fed), Fed Chair Jerome Powell met with United States (US) President Donald Trump on Thursday, where the head of the Fed reiterated that the Fed's...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...