US stocks moved lower on Friday, with the S&P 500 down 1% and the Nasdaq falling 1.6%, both hitting one-month lows, while the Dow Jones dropped about 400 points. The tech sector remained under heavy pressure as investors grew increasingly concerned about stretched valuations in AI-related stocks and the risk of a bubble. Concerns also mounted that the Fed may hesitate to cut rates next month, after several policymakers expressed skepticism about the need for another reduction. Market odds of a 25 bps cut in December have fallen to just below 50%, down from nearly 65% earlier in the...
Tokyo stocks rebounded on Wednesday, with the Nikkei 225 closing higher as overseas investors scooped up shares of companies with solid earnings such as TDK and Fujikura, helping the market recover from recent weakness. The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, rose 220.38 points, or 0.43 percent, to finish at 51,063.31. After a period of adjustment earlier this month, investors turned optimistic toward companies reporting strong results late in the earnings season. A weaker yen also buoyed export-oriented issues. In foreign exchange trading, the yen briefly...
Asian stock markets, particularly in Hong Kong, surged on hopes that the United States would soon cut interest rates. This news came after data showed the US labor market weakened last month, increasing the chances of the Federal Reserve (the US central bank) lowering interest rates at its next meeting in December. Interest rate cuts are usually good news for the stock market as they can stimulate economic growth and investment. The Hang Seng Index in Hong Kong rose around 1 percent, reaching its highest level in a month. Major stocks such as Shenzhou International Group and China Hongqiao...
Asian markets moved mixed on Wednesday. Japan's shares edged lower, while Australia and several other indices gained. The Nikkei 225 fell 0.26%, but the Topix rose 0.35%. In South Korea, the Kospi was flat, and the Kosdaq rose 0.62%. Australia's S&P/ASX 200 Index rose 0.13%. Hang Seng futures pointed to a slightly higher opening at 26,865, compared to the previous close of 26,696.41.The main highlight came from SoftBank Group. The Japanese company revealed it sold its entire stake in Nvidia for US$5.83 billion in October, in line with its "all-in" strategy for OpenAI. SoftBank also...
The Nikkei index weakened 0.3% to 50,674.53 on Wednesday, dragged down by declines in technology and semiconductor stocks. SoftBank Group (-5.9%), Kioxia (-2.8%), and Advantest (-2.8%) led the decline, indicating that risk appetite for growth stocks remains fragile. Interestingly, the Topix index rose 0.5% to 3,338.87, signaling a rotation into more defensive or value sectors—such as financials, industrials, and raw materials—amid pressure on major tech names. This means the market is not entirely risk-off, but rather more selective. In the forex market, USD/JPY was at 154.07 (from 154.22...
The S&P 500 rose 0.3% and the Dow Jones Industrial Average jumped 630 points to a new record high, while the Nasdaq Composite Index fell 0.3% as investors shifted from technology stocks to blue-chip and cyclical stocks on expectations that a funding deal would pass the House of Representatives this week. Progress in the Senate toward reopening the government lifted sentiment in economy-sensitive sectors, while leading healthcare companies such as Merck (+4.8%), Amgen (+4.6%), and Johnson & Johnson (+2.9%) boosted the Dow. Hopes that the government's reopening would release delayed...