Hong Kong's stock market was under pressure again at the start of the week as investors remained cautious ahead of the release of US September non-farm payrolls (NFP) data on Thursday—the first significant data since the 43-day government shutdown. Uncertainty about the Federal Reserve's interest rate direction dampened risk appetite. The Hang Seng Index fell 0.7%, extending its 1.9% decline from Friday, while Hang Seng Tech fell 0.6%. The biggest pressure came from technology and travel stocks, including Trip.com, which fell 3.9%, Baidu, which fell 2.1%, and WuXi AppTec, which fell 2.7%....
US stocks rose on Wednesday, with the S&P 500 up 0.7%, the Nasdaq gaining 0.9%, and the Dow Jones advancing about 220 points, following a volatile session on Tuesday, as investors focus on a new wave of corporate updates. Bank of America climbed 4.5% after reporting higher quarterly profits, while Morgan Stanley shares soared more than 6% to an all-time high of $164 after the lender beat on earnings and revenues. Nvidia went up 1.6% after HSBC upgraded its shares to Buy from Hold. Abbott Laboratories on the other hand, lost 2.2% after a revenue miss. Meanwhile, comments from Federal...
The Nikkei rose at the close on Wednesday (October 15th), led by the property, banking, and textile sectors. Sentiment improved as the market read the Fed's increasingly dovish signals—balance sheet reduction is likely to stop soon—resulting in lower yields and recovering risk appetite. Rotation flowed to domestic issuers benefiting from consumption and stable funding costs; thus, retail and banking were the driving forces. A slightly stronger yen restrained exporters but boosted interest in locally market-oriented stocks. In commodities, oil tended to weaken due to the narrative of a...
The Hang Seng Index rose 1.6% to 25,836.06 at 10:12 a.m. local time on Wednesday, snapping a seven-day losing streak (~-7%). The rise was driven by expectations of a Fed rate cut this month after Jerome Powell signaled a 25-bps rate cut, offsetting concerns about renewed US-China tensions (the "cooking oil" issue). Hang Seng Tech also gained 1.8%, while on the mainland, the CSI 300 and Shanghai Composite each gained 0.4%. Moving stocks: China Life +3.7%, Pop Mart +3.4%, Alibaba +2.4%, Tencent +0.7%. Domestic sentiment was helped by signs of easing Chinese deflation (September PPI -2.3% YoY...
The Nikkei index rose 0.6% to 47,131.16, boosted by expectations of a Fed interest rate cut. Fed Chairman Jerome Powell hinted at the possibility of a 25-bps interest rate cut later this month, which Commerzbank research found was enough to trigger buying. Among the top gainers, Modec jumped 6.1%, Sanrio rose 4.7%, and Aeon also rose 4.7%. The gains were spread across several sectors, indicating broad market sentiment, not limited to specific stocks. Conversely, Asahi Group Holdings fell 1.1% after delaying the release of its third-quarter financial results due to the impact of a...
Asian stocks opened higher, boosting expectations of a Fed interest rate cut, amid renewed concerns about US–China trade tensions. Australia was in the green early in the session, while Japanese and Hong Kong futures signaled gains. Jerome Powell's comments on a weakening job market further strengthened the case for an October rate cut, although Wall Street faltered after President Donald Trump suggested he could halt the "cooking oil" trade with China. In other asset markets, the dollar weakened, oil stabilized near a five-month low, and gold was flat after a three-day rally. Silver...