The Nasdaq marked a record closing high on Thursday with support from the technology sector while the benchmark S&P 500 barely managed to notch a record close as investors cautiously monitored private labor market data in the second day of a U.S. government shutdown. The benchmark index's valuation was around its highest level since 2020, with help from heavyweight technology companies including AI chip leader Nvidia and Broadcom. With no official government data available because of the shutdown, investors were monitoring information from other sources. A report from global...
European stocks fell on Wednesday (August 20), with the Stoxx 50 down 0.4% and the Stoxx 600 down 0.3%, led by defense stocks. The Stoxx Europe Aerospace & Defense Index fell 0.9% after a 2.6% drop on Tuesday, as optimism over a Ukraine ceasefire weighed on the sector. Germany's Rheinmetall and Hensoldt each fell nearly 2%, while Britain's Rolls-Royce and Qinetiq also fell around 2%. The declines followed US President Trump's call for Putin and Zelenskiy to show "flexibility" and hold a bilateral summit, raising speculation of a breakthrough in peace talks. Elsewhere, UK inflation...
Japanese stocks weakened after the close of trading on Wednesday (August 20th), as weakness in the Paper & Pulp, Transportation, and Communications sectors led to declines. At the close of trading in Tokyo, the Nikkei 225 fell 1.42%. The best-performing stocks on the Nikkei 225 were Pacific Metals Co., Ltd. (TYO:5541), which rose 4.89% or 91.00 points to trade at 1,953.00. Meanwhile, Oriental Land Co. Ltd. (TYO:4661) rose 4.47% or 157.00 points to close at 3,672.00, and Keisei Electric Railway Co., Ltd. (TYO:4661) rose 4.47% or 157.00 points to close at 3,672.00. (TYO:9009) rose 3.96%,...
Equities in Hong Kong dropped 105 points or 0.4% to 25,019 in Wednesday morning trade, slipping for the fifth session after a tech-led selloff on Wall Street ahead of the Fed's July meeting minutes and the Jackson Hole meeting. Sentiment remained fragile after Tuesday's data showed China's youth unemployment hit an 11-month high of 17.8% in July, with weak demand in tech, real estate, and education sectors. Losses were contained by the PBoC's move to keep key lending rates at record lows, in line with consensus, as Beijing sought to bolster liquidity and counter disinflation. Meanwhile,...
Japanese equities fell on Wednesday after the country saw its steepest export drop in over four years. Exports fell 2.6% in July as US tariffs weighed on global commerce, the Ministry of Finance reported Wednesday. The Nikkei 225 fell 145.63 points to open at 43,400.66, tracking a sharp retreat on Wall Street led by heavyweight technology shares. Investor confidence wavered over concerns that the tech rally had advanced too far, with all eyes on the upcoming Jackson Hole symposium for clues on interest rates. Concurrently, the US announced plans to increase scrutiny of imports from...
US stocks fell on Tuesday as losses in major technology names dragged the market lower, with the S&P 500 slipping 0.6% and the Nasdaq falling 1.5%, its lowest level in more than two weeks, on steep drops in chipmakers. The Dow Jones finished muted after briefly hitting a record high earlier in the day. Nvidia slid 3.5%, AMD tumbled 5.4%, and Broadcom fell 3.6%, while Palantir plunged 9.3%, making it the weakest performer in the S&P 500. On the upside, Home Depot gained 3.2% despite missing earnings expectations, supported by signs of firming demand in the housing sector. Intel...