Three major US indexes closed at new record highs after a lower-than-expected inflation report raised the possibility of a Federal Reserve interest rate cut later this year and prompted investors to shift to riskier assets. The S&P 500 rose 0.8%, the Nasdaq rose 1%, and the Dow Jones Industrial Average rose 470 points. Technology stocks led the rally, with AMD and IBM surging 7.5% and 8.77%, respectively, after IBM said it had successfully implemented a key quantum error correction algorithm on AMD chips, boosting sentiment across the sector. Intel rose 1.6% after returning to...
The Hang Seng Index opened lower by 63 points, or 0.24%, to 25,718, followed by the H-Share Index, which fell 0.34%, and the Technology Index, which fell 0.67%. This decline was driven by the decline in major technology stocks such as Tencent, Meituan, Xiaomi, JD.com, and Kuaishou, which all fell between 0.4% and 1%. Alibaba was the only major stock in this sector to remain stable. In the financial sector, stock movements were more mixed. HSBC Holdings and AIA Group recorded small gains of 0.1% and 0.2%, respectively, while Ping An and the Hong Kong Stock Exchange weakened slightly....
Asia-Pacific markets fell Thursday, tracking Wall Street's declines on concerns about U.S.-China trade relations. Trade fears resurfaced after Reuters reported Wednesday stateside that the Trump administration is considering curbs on exports to China that are made with U.S. software, citing a U.S. official and three people briefed by U.S. authorities. The sources said that the plan, which could cover a wide range of items from laptops to jet engines, might not move forward, however, and that it's not the only option that's being discussed. Japan's benchmark Nikkei 225 index retreated...
Japanese stocks are lower following their recent surge driven by hopes for newly elected Prime Minister Sanae Takaichi's economic measures. The market is also weighed by continuing U.S.-China trade tensions and new U.S. sanctions on Russian oil giants. Chip-related stocks are leading declines. Tokyo Electron Ltd. is down 3.8%, SoftBank Group is 3.2% lower and Renesas Electronics is down 3.6%. USD/JPY is at 152.13, compared with 151.80 as of Wednesday's Tokyo stock market close. Investors are closely watching any details of Takaichi's policy steps. The Nikkei Stock Average is down 1.4% at...
The Dow fell 320 points from yesterday's record close, the S&P 500 fell 0.4%, and the Nasdaq fell 0.9% as markets digested a mix of earnings reports and new trade risks after Reuters reported the White House was considering restrictions on exports to China made with U.S. software. Netflix plunged 10% after its performance was impacted by a tax dispute in Brazil. Tesla fell 1.4% ahead of its earnings report following news that some newly assembled vehicles could experience sudden battery power loss. On the earnings front, TI fell 5.9% on disappointing forecasts, weighing on other...
European stock markets closed mostly lower in Wednesday trading as The Stoxx Europe was off 0.15%, Germany's DAX declined 0.71%, France's CAC lost 0.63%, and the Swiss Market Index was down 0.07%, while the FTSE in London rose 0.93%. Annual inflation in the UK remained unchanged at 3.8% in September, according to the Office for National Statistics, which was below analyst forecasts of 4.0%, according to Bloomberg. Core inflation, which excludes energy, food, alcohol and tobacco, rose by 3.5% annually in September, down from 3.6% in August. Analysts expected core inflation to increase by...