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...
Hong Kong's equities surged 253 points or 1.2% to 21,389 on Monday morning deals, marking the third session of gains and holding their highest in three months. Optimism toward China's tech sector continued to boost sentiment following the sudden emergence of low-cost AI model DeepSeek. At the same time, concerns over deflation risks in the mainland eased after consumer inflation hit a five-month top of 0.5% in January, topping consensus of 0.4%. Gains were broad-based, with top movers from tech, consumers, and financials. Further increases were tempered by news that President Trump will...
The Nikkei 225 and Topix indexes showed mixed movements on Monday as global market sentiment was dampened by the looming threat of new US tariffs. On Sunday, US President Donald Trump announced a blanket 25% tariff on all steel and aluminum imports, set to take effect later today. Domestically, investors looked ahead to key earnings reports this week, particularly from Honda and Nissan, following the fallout from integration talks between the two automakers. Corporate earnings from SoftBank Group, Orix Corporation, Fujikura, Obayasha Corp, and Shiseido are also in focus. In contrast, shares...
Japan's current account surplus increased to JPY 1,077.3 billion in December 2024 from JPY 914.5 billion in the same month a year earlier, falling short of market estimates for a gain of JPY 1,362 billion. Still, it was the 23rd successive month of surplus in the current account, as the services account deficit decreased sharply to just JPY 0.21 billion from JPY 266.3 billion in the previous year. Also, the secondary income gap narrowed slightly to JPY 240.1 billion from JPY 251.5 billion. At the same time, the primary income surplus fell to JPY 1,275.5 billion from JPY 1,308.6 billion in...
Asia-Pacific markets were mixed Friday as investors assessed India's interest rate decision and Japan's household spending data. Australia's S&P/ASX 200 dipped 0.11% to end at 8,511.4. Japan's Nikkei 225 fell 0.72% to close at 38,787.02 and the Topix traded 0.54% lower to end the trading day at 2,737.23. The country's household spending in December rose 2.7% year on year in real terms, sharply beat Reuters' expectations of a 0.2% rise. South Korea's Kospi shed 0.58% to close at 2,521.92, while the small-cap Kosdaq rose 0.35% to close at 742.9. Hong Kong's Hang Seng Index added 1.1%...
Stocks slid on Friday as a mix of news related to tariffs and inflation worried traders to close out the week. Major benchmarks took a leg lower during the session after President Donald Trump said he was planning reciprocal tariffs on trading partners. This could mean raising tariff levels across the board to equal rates charged the U.S. The Dow Jones Industrial Average fell 444.23 points, or 0.99%, to close at 44,303.40. The S&P 500 declined 0.95% to 6,025.99, and the Nasdaq Composite slid 1.36% to end at 19,523.40. Friday's losses left the major averages in negative territory on the...
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...