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...
European equities extended gains for a fourth consecutive session on Thursday, with both the STOXX 50 and the STOXX 600 rising nearly 0.2% to fresh record highs. The advance reflected a broadly positive market sentiment following the resolution of the US government shutdown. After the House of Representatives approved the funding bill, President Trump signed it into law and reopening the government. Investors also focused on a series of corporate updates. Shares of Merck surged almost 7%, making it one of the top performers on the STOXX 600, after the company reported operating earnings...
Japanese stocks continued their rally on Wednesday (November 13th), boosted by the end of the US government shutdown, which boosted investor risk appetite. Furthermore, a weaker yen fueled expectations of an interest rate hike by the Bank of Japan (BoJ), which boosted banking stocks. The Topix index rose 0.7% to 3,381.72, while the Nikkei index rose 0.4% to 51,281.83. The weaker yen was a key factor supporting the Japanese stock market, with the yen weakening to near 155 per US dollar. Some analysts, such as Kazuhiro Sasaki of Phillip Securities Japan, said the weaker yen could prompt the...
Hong Kong stocks fell on Thursday after hitting a one-month high, as investors opted to remain cautious ahead of the release of quarterly earnings reports from major tech companies, including Tencent and JD.com, as well as Chinese economic data for November. The Hang Seng Index fell 0.1% to 26,888.09 as of 10:06 a.m. local time, with the Hang Seng Tech Index down 0.7%. In mainland China, the CSI 300 Index and the Shanghai Composite Index posted slight gains of 0.4% and 0.2%, respectively. Tencent shares fell 0.8% to HK$652, with the report expected to show profit growth slowing to 5% in the...
Asia-Pacific markets mostly rose Thursday, following mixed trading on Wall Street as investors kept an eye on the U.S. government, which appeared poised to reopen as soon as the end of the week. Japan's benchmark Nikkei 225 index rose 0.23% in early trading, while the Topix added 0.62% to hit a record high. South Korea's Kospi rose 1.07%, while the small-cap Kosdaq jumped 2.52%. Australia's S&P/ASX 200 was down 0.25%. Futures for Hong Kong's Hang Seng Index pointed to a lower open, trading at 26,899, against the index's previous close of 26,922.73. U.S. equity futures ticked lower...
Japan's Nikkei Stock Average is flat at 51063.78 as gains in financial shares offset losses in tech and energy stocks. Nomura Holdings is up 2.7% and Mitsubishi UFJ Financial Group is 2.0% higher while SoftBank Group is down 2.2% and Eneos Holdings is 1.1% lower. Broader market index Topix is up 0.4% at 3372.55. USD/JPY is at 154.84, compared with 154.66 as of Wednesday's Tokyo stock market close. Investors are closely watching quarterly corporate results. Daiwa House Industry and SMC are scheduled to release their results later Thursday. Source: Dow Jones Newswires