The Nasdaq Composite rose 0.7% and the S&P 500 gained 0.3% on Friday, led by a 10.8% surge in Amazon shares after the company said cloud revenue climbed 20% in the third quarter and beat estimates, lifting tech names broadly. The Dow traded up 60 points. Palantir and Oracle added 3% and 2.8%, repsectively, on AI optimism and Nvidia also traded higher. Elsewhere, Netflix rallied 2.9% on an announced 10 for 1 stock split and Tesla jumped 3.1%. Energy names diverged as Chevron rose 1.9% on stronger earnings and Exxon Mobil slipped 1.5% after a profit decline. On the other hand, Meta fell...
European stocks extended gains on Friday, with the STOXX 50 up 0.4% and the STOXX 600 rising 0.3% to fresh record highs, as optimism around artificial intelligence continued to buoy global investor sentiment. Momentum was further supported by news of fresh industry alliances - Hitachi teaming up with OpenAI and Fujitsu partnering with Nvidia. At the same time, investors monitored developments around the US federal government shutdown, though its market impact has so far remained limited. Among sectors, basic resources, banks, autos, and financial services led the gains, while technology...
The Nikkei 225 jumped 1.85% to close at 45,769, while the broader Topix rose 1.35% to 3,129 on Friday, with the Nikkei finishing at a fresh record as enthusiasm for artificial intelligence drove Japanese chip stocks higher. Sentiment was lifted after OpenAI's $6.6 billion share sale valued the firm at $500 billion, fueling optimism across AI-related sectors. Hitachi surged 10.3% on reports of a partnership with OpenAI, while SoftBank Group (+3.6%), Advantest (+4.3%) and Tokyo Electron (+2.3%) also posted strong gains. Politically, investors prepared for a pivotal ruling party leadership...
The Hong Kong stock market opened lower today. The Hang Seng Index fell 65 points, or 0.24%, to close at 27,221. The China Enterprises Index also fell 0.31%, while the technology index weakened 0.44%. Technology stocks showed mixed movements - Tencent and Alibaba recorded slight gains, while JD.com and Kuaishou experienced declines. Meituan and Xiaomi saw no price changes. In the financial sector, stock movements were also mixed. HSBC fell 1.1%, while stocks like AIA Group and the Hong Kong Stock Exchange were unchanged. In the automotive sector, most stocks moved lower. BYD, XPeng, and Li...
Asia-Pacific markets opened mostly higher Friday, tracking Wall Street gains as investors shrugged off the U.S. government shutdown. Investors are waiting to see how long the shutdown will last to assess the gravity of its economic repercussions. Historically, government shutdowns in the U.S. have not been market-moving events. Japan's September unemployment rate rose to 2.6%, government data showed Friday, higher than the 2.4% expected by economists polled by Reuters. The latest reading compared with the 2.3% unemployment rate in August. The country's September manufacturing purchasing...
Japanese stocks are expected to move higher on Friday, following Wall Street's record-breaking rally, fueled by OpenAI's latest funding and eye-catching valuations. Nikkei futures on SGX rose 35 points to 45,050, signaling a positive opening. In the currency market, USD/JPY was at 147.14 (vs. 147.26 late Thursday in New York), indicating a relatively stable yen. The stable exchange rate is boosting sentiment in export-oriented stocks. Investors will also be keeping an eye on Saturday's Liberal Democratic Party (LDP) leadership election, which could potentially influence domestic...