Japanese stocks fall as uncertainty over a U.S. government shutdown and the impact of tariffs on earnings persists. Financial stocks lead declines. Dai-ichi Life Holdings declines 2.5% and Mizuho Financial Group is 1.9% lower. USD/JPY is at 148.13, compared with 148.19 as of Tuesday's Tokyo stock market close. Investors are focusing on any developments related to a potential U.S. government shutdown as well as the leadership election for the ruling Liberal Democratic Party of Japan. The Nikkei Stock Average is down 0.3% at 44802.93. Source: Dow Jones Newswires
The Hang Seng Index fell 114 points, or 0.4%, to close at 26,086 on Thursday (September 11), halting a four-day rally and retreating from a four-year high amid broad sector weakness. Sentiment weakened after the New York Times reported that the US may impose restrictions on Chinese pharmaceuticals and tighten oversight of licensing agreements for experimental drugs. Pharmaceutical stocks led the decline, with Hansoh Pharma plunging 8.3%, followed by CSPC Pharma (-7.1%), Akeso Inc. (-4.7%), and Wuxi Biologics (-4.7%). Other stocks that also experienced significant declines included Meituan...
European stocks edged higher on Thursday ahead of the ECB policy decision and the US CPI release. At 07:05 GMT, Germany's DAX rose 0.1%, France's CAC 40 +0.3%, and the UK's FTSE 100 +0.3%. Gains were limited as investors chose to wait for these two key events. The focus is on Frankfurt. The ECB is expected to hold interest rates, having previously cut its benchmark rate to 2% through June and paused as inflation returns to target and growth stabilizes. However, the central bank will keep the option of further easing open if needed. Uncertainties add to the caution: 15% US tariffs on EU...
Japanese stocks were mixed following a Wall Street rally driven by the chip/tech sector. An unexpected decline in the US PPI fueled hopes of a Fed rate cut. Investors in Tokyo remained cautious ahead of the US CPI release.At 9:27 a.m. Tokyo time, the Topix index fell 0.3% to 3,132.94, while the Nikkei index rose 0.2% to 43,941.62. Of the 1,675 stocks on the Topix, 600 rose, 966 fell, and 109 were unchanged. Toyota was the biggest drag on the Topix, falling 1.8%.Strong interest poured into AI-themed stocks such as SoftBank Group, Advantest, and Ibiden. Growth expectations also boosted...
Asian stocks moved mixed on Thursday after Wall Street rallied and pushed the S&P 500 to a new record. A decline in US producer price inflation (PPI) bolstered confidence that the Fed could cut interest rates again next week. Early in the session, Australia weakened while Japan fluctuated; US futures continued to edge higher. In the bond market, Treasuries stabilized after Wednesday's rally, while Australian and New Zealand debt strengthened. The dollar index tended to be flat and the yen strengthened against the greenback in early Asian trading—reflecting a "wait-and-see" mode ahead of...
The S&P 500 notched a second straight record-high close on Wednesday, as Oracle surged and cooler-than-expected inflation data supported expectations the U.S. Federal Reserve will cut interest rates next week. Oracle soared in its biggest one-day percentage gain since 1992 after the tech company pointed to a demand surge from AI firms for its cloud services. Its stock market value reached as high as $970 billion, leapfrogging the values of Eli Lilly, JPMorgan Chase and Walmart, and approaching Tesla's $1.1 trillion market value. AI-related chip stocks also rallied, with Nvidia,...