The Hang Seng climbed 233 points, or 0.9%, to close at 26,855 on Tuesday, reversing early losses to hit a two-week high on broad-based gains. The index jumped 7% in September, its fifth straight monthly advance, and posted a third quarterly gain of 11.6%, fueled by AI optimism, strong inflows, and bets of fresh policy support from Beijing ahead of the October plenum. Still, upside was capped by U.S. political uncertainty, with Vice President Vance warning the government was "headed to a shutdown" amid stalled budget talks. Profit-taking also weighed as traders braced for China's week-long...
European markets were lower to start the new trading week Monday as investors assessed the economic outlook after hopes of a Federal Reserve interest rate cut were boosted Friday. The pan-European Stoxx 600 was last down by 0.3%, with regional indexes largely trading in negative territory. Germany's DAX and France's CAC 40 were last each down by around 0.5%. U.K. markets were closed for a public holiday. Investors on Monday closely watched shares of windfarm developer Orsted. Late on Friday, U.S. authorities ordered the company to halt construction of a near-complete project off of Rhode...
Japanese shares ended Monday higher, as Jerome Powell's dovish comments whetted risk appetite. Concerns that the yen will strengthen if the Federal Reserve cuts interest rates capped gains, however. The broader Topix Index rose 0.1% as of market close in Tokyo, with the Nikkei 225 gaining 0.4% after climbing as much as 1.3% in morning trade. Trading houses and machinery stocks lifted the Topix the most, while retail and IT shares dragged. "Powell's speech was dovish, removing the block for a September rate cut and boosting risk sentiment," said Anna Wu, a cross-asset investment...
Hong Kong shares surged 495 points or nearly 2% to 25,836 in Monday morning's deals, extending gains for the second session and hitting their highest level in almost four years. The rally followed Wall Street's advance on Friday after Fed Chair Jerome Powell signaled at Jackson Hole that rate cuts may be warranted amid a weakening labor market. Broad-based gains lifted the market, with the Hang Seng Tech Index climbing over 2.5% on renewed AI optimism after DeepSeek unveiled its upgraded V3 model, supported by domestic chips. Consumer, property, and financial stocks also climbed after...
Japan's Stocks Rise as Fed-Cut Bets, US-Share Rally Lift Mood Japanese stocks climbed Monday as a surge in US equities following Jerome Powell's dovish comments at a Federal Reserve gathering bolstered sentiment, outweighing concerns over a stronger yen. The broader Topix rose as much as 0.8% in early trade, with the blue-chip Nikkei 225 gaining as much as 1.2%. Tech, autos and trading houses lifted the Topix the most. The Dow Jones Industrial Average reached a record Friday after a speech by Powell led traders to boost wagers on an interest-rate cut as soon as next month. The...
Asia-Pacific rose Monday, tracking Wall Street gains after Federal Reserve Chair Jerome Powell signaled that the central bank could begin easing monetary policy next month in his widely anticipated annual speech in Jackson Hole, Wyoming. Japan's Nikkei 225 benchmark rose 1.08%, while the broader Topix index added 0.53%. In South Korea, the Kospi index increased by 0.75%, while the small-cap Kosdaq advanced 1.71%. Australia's S&P/ASX 200 benchmark climbed 0.87%. Futures for Hong Kong's Hang Seng index stood at 25,722, pointing to a stronger open compared with the HSI's last close of...