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...
The Hang Seng plunged 500 points or 1.9% to end at 26,572 on Friday, its sharpest one-day drop since mid-October, snapping a four-session gain. The slump followed a tumble on Wall Street Thursday as hopes for a U.S. rate cut next month faded. Sentiment was further rattled by comments from China's statistics agency, which warned of persistent external risks and domestic restructuring pressures. Fresh data showed China's factory output and retail sales rising at their weakest in 14 months in October, and fixed investment fell 1.7% in the first 10 months, the sharpest drop on record for the...
Japanese stocks closed lower on Friday, with the Nikkei 225 index down 1.76% at the end of the session. Selling pressure primarily came from the paper & pulp, transportation, and communications sectors, which all weakened, dragging the index into the red. Overall, sentiment in the Tokyo market tended to be defensive, with more investors opting to reduce risk ahead of the weekend. Despite the steep decline in the index, several stocks performed remarkably well. Toppan Printing Co. was the star of the day, surging nearly 14% to 4,244 yen per share. Tokyo Tatemono also stole the spotlight,...
The Hong Kong stock market opened sharply lower on Friday, immediately breaking its four-day uptrend. The Hang Seng Index fell 412 points, or around 1.52 percent, to 26,660. The greatest pressure came from technology stocks, with Hang Seng Tech plunging 2.22 percent to 5,848. The Hang Seng China Enterprises Index also suffered, falling 1.66 percent to 9,439 points. The overall picture is clear: since the opening, sentiment on the stock exchange has been heavily selling. Sectorally, technology was the focus of selling pressure following the release of earnings reports. Tencent fell around...
Nikkei Turun 1,7% Akibat Tekanan Logam dan Saham Terkait Chip Japanese stocks are lower in early trade after U.S. technology shares fell sharply overnight. Metals and chip-related stocks are leading the declines. JX Advanced Metals is down 4.6%, Tokyo Electron is 4.9% lower and SoftBank Group is down 7.3%. USD/JPY is at 154.72, compared with 154.95 as of Thursday's Tokyo stock market close. Investors are closely watching corporate earnings and Prime Minister Sanae Takaichi's policy steps to support the economy. Toray Industries and Dai-ichi Life Holdings are set to announce their quarterly...