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...
Japan stocks were higher after the close on Monday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 1.01%. The best performers of the session on the Nikkei 225 were Keisei Electric Railway Co., Ltd. (TYO:9009), which rose 5.77% or 77.00 points to trade at 1,412.00 at the close. Meanwhile, Lasertec Corp (TYO:6920) added 4.98% or 705.00 points to end at 14,865.00 and CyberAgent Inc (TYO:4751) was up 4.51% or 64.00 points to 1,481.50 in late trade. The worst performers of the session were Isetan Mitsukoshi Holdings Ltd....
Major European bourses started the week in positive territory after President Trump announced a delay in the planned 50% tariff on the European Union, extending the deadline to July 9. The move came following a phone call with European Commission President Ursula von der Leyen, who stated that "Europe is ready to advance talks swiftly and decisively," but noted that "a good deal" would require time, "until July 9. Under the reciprocal tariff framework announced in April, the EU had been facing a 20% levy, which was temporarily reduced to 10% through the new deadline. Autos, banks,...
The Hang Seng Index started the day down by 95 points or 0.4%, closing at 23,505 points. The H-share index dropped by 33 points or 0.38%, settling at 8,550 points, while the tech index fell by 16 points or 0.32%, ending at 5,229 points. In the tech sector, Tencent saw a decrease of 0.5%, Alibaba dropped by 0.2%, Meituan fell by 0.5%, Xiaomi Group by 0.7%, JD.com by 0.8%, and Kuaishou by 0.5%. MINISO's performance faced a sharp decline of 14.7% following recent news. Among financial stocks, performances varied, with HSBC Holdings declining by 0.9%, AIA Group by 0.1%, China Ping An by 0.3%,...
Asia-Pacific markets traded mixed Friday as investors assess a slew of economic data from the region. Japan's benchmark Nikkei 225 rose 0.47% to close at 37,160.47 and the Topix climbed 0.68% to close at 2,735.52. South Korea's Kospi traded flat to close at 2,592.09 while the small-cap Kosdaq was down 0.24% to end the trading day at 715.98. Australia's benchmark S&P/ASX 200 was up 0.15% to close at 8,360.9. Hong Kong's Hang Seng index and mainland China's CSI 300 traded flat. The U.S. and China agreed to maintain communication following a call between Chinese Vice Foreign Minister Ma...
The Nikkei 225 Index rose 0.5% to around 37,350 while the broader Topix Index added 0.3% to 2,744 on Monday, extending gains from the previous session as market sentiment was buoyed by US President Donald Trump's decision to delay the implementation of 50% tariffs on the EU. A retreat in the safe-haven yen also supported Japanese shares by easing currency-related pressure on exporters. Meanwhile, investors continued to monitor the Bank of Japan's policy outlook, with expectations growing that the central bank will raise interest rates further in response to persistent inflation. Industrial...
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...