Wall Street's three major indexes managed to close Tuesday's choppy session higher, marking quarterly and monthly gains, even as investors braced for a U.S. government shutdown, which would delay key economic reports and muddy the Federal Reserve's interest rate policy outlook. With investors having bet for some time on a spate of further Fed rate cuts, the benchmark S&P 500, the tech-heavy Nasdaq and the Dow all gained for the second quarter in a row. For the S&P 500 and the Dow, it also marked their fifth straight monthly gain while the Nasdaq registered its sixth straight monthly...
Japanese shares closed lower on Tuesday after the Bank of Japan signaled room for future rate hikes but gave no clear sign of an October move. The Nikkei 225 fell 0.25%, or 111.12 points, to end at 44,932.63. One BOJ board member said it may be time to raise rates, while others urged caution given uncertainty over the US economy, a Sept. 18-19 meeting summary showed. The record signaled growing support for another hike amid high inflation, though most members preferred waiting for more data. Two dissents against holding rates stoked October hike bets, but the summary stopped short of...
Hong Kong stocks opened higher on Tuesday, following Wall Street's rally, amid hopes of fresh stimulus after a report showed China's manufacturing activity remained weak. The Hang Seng Index rose 0.4% to 26,736.44, while Hang Seng Tech added 1%. Technology and e-commerce stocks led the gains, with Alibaba surging nearly 2%, JD.com rising 0.8%, and Semiconductor Manufacturing International surging 3.7%. Meanwhile, Baidu and Trip.com shares weakened, while New Oriental plunged nearly 2%. Official data showed China's manufacturing PMI in September stood at 49.8, marking the sixth consecutive...
Japanese stocks are lower due to a stronger yen and uncertainty over the impact of U.S. tariffs on corporate earnings. Auto, shipping and energy stocks lead declines. Mitsubishi Motors is down 2.1% and Kawasaki Kisen is 2.0% lower. Inpex is down 3.1% after crude oil prices fell overnight. USD/JPY is at 148.58, down from 148.81 as of Monday's Tokyo stock market close. Investors are closely watching any developments related to the leadership election for the ruling Liberal Democratic Party of Japan set for Saturday. The Nikkei Stock Average is down 0.1% at 45007.00. Source: Bloomberg.com
Asia-Pacific markets traded mixed Tuesday with focus on the Reserve Bank of Australia's interest rate decision later in the day. The RBA is expected to hold its cash rate steady at 3.6%, according to a Reuters poll, as high inflation has restricted its ability to loosen monetary policy. "The Reserve Bank of Australia's policy meeting on Tuesday is the key event in the Asia-Pacific region," said Shier Lee Lim, lead FX and macro strategist of APAC in Convera. "Any shift in tone or forward guidance could move AUD crosses, especially after recent volatility in building approvals, with August...
US stocks closed higher on Monday as investors tried to stabilize the market following last week's losses driven by cracks in AI-related trading and concerns over new tariffs. The S&P 500 rose 0.2%, the Nasdaq 100 advanced 0.4%, and the Dow Jones added 69 points, supported by gains in tech and AI-focused companies such as Nvidia (+2.1%), AMD (+1.2%), and Micron Technology (+4.2%). Video game company Electronic Arts jumped 4.5% after announcing a $55 billion take-private deal, reflecting broader M&A momentum that has topped $1 trillion this year. Market participants are closely...