Asian stock markets opened cautiously at the start of the week, with the MSCI Asia Pacific index rising slightly by 0.2%. The Kospi led the gains, while Japan's Nikkei index fell 0.5% after data showed the Japanese economy contracted again. Japanese retail and tourism stocks also weakened due to escalating tensions with China. US stock futures rose 0.3%, providing some positive sentiment. Investors are now awaiting a slew of US economic data, which returns after a long pause due to the shutdown, including the jobs report. At the same time, risk appetite appears to be weakening as AI stock...
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,...
European stocks closed mostly lower on Wednesday with losses from tech, consumer defensive companies, and miners as markets continued to assess the outlook on global rates and geopolitical risk. The Eurozone's STOXX 50 closed dropped 0.2% to 5,378 and the pan-European STOXX 600 inched below the flatline to 552. The ECB is expected to leave borrowing costs unchanged tomorrow, though updated economic forecasts and guidance on the policy outlook will be closely watched. Geopolitical risks also remained in focus: Israel carried out strikes on Hamas targets in Qatar, while Poland intercepted...