US stocks rallied on Wednesday (July 23), driven by optimism over a new trade agreement and strong corporate momentum. The S&P 500 rose 0.8% to a new record high, while the Nasdaq gained 0.7%. The Dow Jones Industrial Average surged 505 points, nearly reaching its own record high. The market welcomed news of a finalized trade deal between the US and Japan that includes reciprocal tariffs of 15%, with President Trump signaling similar progress in negotiations with the European Union. Reports suggesting a US-EU deal is nearing completion, mirroring Japan's framework, further boosted...
The Hang Seng rose 150 points or 0.8% to close at 19,577 on Monday, breaking a six-session of losses after China urged listed companies to lift share prices through mergers and acquisitions, employee stock schemes, cash dividends, and share buybacks. However, the index trimmed early rises following Morgan Stanley's downgrade of Hong Kong shares to "underweight" from "market weight". Most sectors advanced, notably financials, consumers, and tech. Geely Auto jumped 4.4% after Jefferies kept a "buy" rating, citing restructuring efforts to improve efficiencies. Some traders were cautious ahead...
European equity markets were set to open higher on Monday, as investors looked ahead to key inflation data from the Eurozone and the UK later this week, which could offer insights into the region's monetary policy direction. Markets were also awaiting remarks from key central bank officials for further clues on future policy moves. Moreover, European futures tracked US futures higher as investors prepared for Nvidia's earnings report this week, with traders watching for guidance about the demand for its Blackwell AI chips. In premarket trade, Euro Stoxx 50 and Stoxx 600 futures were both up...
The Nikkei 225 Index dropped 0.7% to below 38,400, while the broader Topix Index fell 0.6% to 2,696 on Monday, mirroring losses on Wall Street as the post-election rally continued to lose momentum and concerns over a slower pace of interest rate cuts by the US Federal Reserve weighed on sentiment. Japanese stocks also faced pressure from a sharp rebound in the yen on Friday. On the economic front, investors reacted to data showing a surprising decline in Japan's machinery orders in September. Looking ahead, markets are focused on key economic releases later this week, including Japanese...
Stocks in Hong Kong jumped 272 points or 1.4% to 19,702 in early trade on Monday after retreating in the prior six sessions, helped by robust gains in most sectors. Financial stocks led the advance, climbing around 2% after a Chinese regulator urged companies with share prices lower than book values to improve performance. Tech and consumer sectors also saw strong gains, despite Goldman Sachs' recommendation to underweight Hong Kong stocks due to limited economic and earnings growth. Capping the upturn was fresh data showing foreign direct investment in China tumbled 29.8% yoy in the first...
Asia-Pacific stocks were mostly lower Monday as markets kickstarted what ING calls a "quiet" week for economic data from the region. Key data this week from Asia will include China's loan prime rate, set to be released Wednesday. ING said no change is expected in China's LPR, with the one-year rate currently at 3.1% and the five-year LPR at 3.6%. Japan will release trade data on Tuesday and October headline inflation numbers on Friday, while Australia's central bank on Tuesday will release minutes of its meeting earlier this month. Japan's benchmark Nikkei 225 fell 1.16% in early trade,...