The Nikkei 225 rose 1% to around 40,200, while the broader Topix Index gained 0.9% to 2,860 in post-holiday trading on Tuesday, extending last week's gains as investors digested the weekend's election outcome. Although Japan's ruling coalition lost its majority in the upper house, the result was largely anticipated by markets. Importantly, Prime Minister Shigeru Ishiba is expected to remain in office, easing fears of political instability or a sudden resignation. Ishiba reaffirmed his commitment to stay on, citing the need to manage ongoing tariff negotiations with the US and other key...
Blue chip stocks lead advancers to start the week with the Dow Industrials climbing above 44000. Consumer discretionary and financial sectors rally on expectations of policies from a new Trump administration. Bond markets were closed for Veterans Day. Tesla gains 9.1%, Trump Media & Technology Group adds 4.7% and bitcoin surges above $84,000. Cigna rises 7.3% after saying it wasn't seeking to buy Humana, while AbbVie slides 13% after its experimental schizophrenia drug failed in trials. DJIA gains 304 points, or 0.7%, to 44293, the S&P 500 gains 0.1% to 6001, while the Nasdaq rises...
European stocks had a strong start to the week, with the Stoxx 50 and Stoxx 600 both rising over 1% as investors considered the potential market impact of Donald Trump's presidency. The construction and materials sector led gains, climbing 2%, while industrial stocks increased by 1.7%. On the corporate side, Continental's shares surged 10% after posting better-than-expected profits. Defence stocks, including Sweden's SAAB, Italy's Leonardo, and the UK's Rolls-Royce, rose between 3% and 4.4%. MTU Aero Engines gained 1% after an upgrade from Goldman Sachs. The chemicals sector was up 1.3%,...
US stock futures pointed higher on Monday as investors assessed the staying power of a post-election rally and looked ahead to fresh economic data this week. By 03:20 ET (08:20 GMT), the Dow futures contract had added 82 points or 0.2%, S&P 500 futures had jumped by 15 points or 0.3%, and Nasdaq 100 futures had gained 73 points or 0.4%. The benchmark S&P 500 hit a fresh all-time peak and touched the 6,000 level for the first time on Friday, boosted by hopes that Donald Trump would roll out tax cuts and extensive deregulation during his second four-year term in the White...
The Hang Seng Index fell for the second day, dropping 1.5%, or 301.26 to 20,426.93 in Hong Kong. The index dropped to the lowest closing level since Oct. 31. Meituan contributed the most to the index decline, decreasing 3.2%. Longfor Group Holdings Ltd. had the largest drop, falling 5.1%. Today, 62 of 82 shares fell, while 14 rose; 3 of 4 sectors were lower, led by finance stocks. Source : Bloomberg
The Hang Seng Index got off to a rough start on Monday, hitting a new low for November on disappointment over stimulus measures released from China's briefing before the weekend. Hong Kong equities will of course be watching for any China-related headlines that President-elect Trump is likely to deliver. Also, this week will see earnings from the Hang Seng Index's two largest companies — Tencent topping the charts on Wednesday and Alibaba following on Friday. Tencent's previous earnings report comfortably beat estimates, which helped boost the HSI at the time. Although the gauge fell back...