Stocks rose on Thursday as Wall Street weighed the latest inflation data, which came in lighter-than-expected.The Dow Jones Industrial Average traded 339 points, or 0.8%. The S&P 500 popped 1.1%, while the Nasdaq Composite advanced 1.5%. Micron Technology jumped 13% after the semiconductor play topped Wall Street estimates on the top and bottom lines for the fiscal first quarter and offered a strong revenue forecast for the current period. Micron helped rekindle the artificial intelligence trade, which has seen weakness in recent sessions. The delayed November consumer price index...
The Hang Seng inched up 33 points or 0.1% to finish at 25,928 on Wednesday, marking a third straight session of gain amid a rise in U.S. futures as recent economic data bolstered expectations of a Fed rate cut in December. Most sectors in the city advanced, led by property and financials, even as mainland markets eased ahead of industrial profit figures due Thursday. Locally, Hong Kong's exports held near a four-year high in October, while imports saw their strongest growth in five months. On the corporate front, Alibaba reported stronger-than-expected quarterly revenue, supported by rising...
Japanese stocks rose on Wednesday as artificial intelligence (AI)-related stocks rallied and hopes for a US interest rate cut grew. The Topix index rose 2% to 3,355.50 as of 3:30 p.m. Tokyo time, while the Nikkei 225 gained 1.8% to 49,559.07. Of the 1,668 stocks on the Topix index, 1,471 rose, only 166 fell, and 31 remained unchanged. The positive sentiment was largely driven by comments from Fed Governor Christopher Waller, who supported a December interest rate cut. This statement fueled speculation that borrowing costs in the US would fall, making the global investment climate more...
European stocks are expected to open higher across the spectrum as expectations rise that the U.S. Federal Reserve will cut interest rates in December. The U.K.'s FTSE index is seen opening 0.25% higher, Germany's DAX up 0.7%, France's CAC 40 up 0.67% and Italy's FTSE MIB 0.64% higher, according to data from IG. Regional bourses look set to follow their counterparts on Wall Street and in the Asia-Pacific region higher amid expectations that the Fed will cut when it next meets on Dec. 9 and 10. Markets are pricing in almost an 85% chance of a quarter percentage point cut by the central...
Hong Kong stocks rose again for a third straight day on Wednesday, approaching their longest winning streak in two weeks. The Hang Seng Index rose 0.6% to 26,039.99, supported by tech stocks such as Meituan, which surged 6.6% ahead of its earnings release, ZTO Express (up 3.5%), BYD (up 2.7%), and JD.com (up 1.8%). Meanwhile, Alibaba edged down 0.1% after its September-quarter profit plunged 52% year-on-year, although the decline was still better than market expectations. Positive sentiment also spread to mainland China, with the CSI 300 index rising 0.5% and the Shanghai Composite Index...
Asian stock markets continued their rally for a third day, tracking gains on Wall Street. Indexes in Japan, South Korea, and Australia opened higher after the S&P 500 rose 0.9% and the Nasdaq 100 gained 0.6%. Meanwhile, markets also focused on Chinese stocks after Alibaba weakened in US trading following its earnings report. This positive sentiment arose after US consumer confidence data for November fell sharply and retail sales rose only slightly. The data signaled that consumer spending was beginning to slow after several months of strong demand, reinforcing market expectations that...