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...
Both the STOXX 50 and STOXX 600 reversed early gains and closed down 0.6% and 0.8%, respectively, on Thursday, retreating from new record highs reached earlier in the session amid downbeat corporate results. Siemens shares plunged 9.1% after the company released a disappointing profit forecast for next year. 3i Group plunged 17.2% after warning of more cautious projections, and Deutsche Telekom reversed early gains and closed the session slightly in the red, even after again raising its 2025 forecast. Meanwhile, Merck jumped 4.9% after reporting operating profit that beat market...
Wall Street traders bracing for a wave of economic releases after the end of the US shutdown drove stocks lower and bond yields higher amid concern over whether the data will be enough to clear the path for a Federal Reserve rate cut. With much of the optimism about the government reopening already priced in, the S&P 500 wiped out its November advance. Short-dated Treasuries, which are more sensitive to imminent Fed moves, underperformed as money markets project about even odds of a central bank reduction in...
The Hang Seng Index rose for the fourth day, climbing 0.6%, or 150.3 to 27,073.03 in Hong Kong. The index advanced to the highest closing level since Oct. 3. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 3.3%. Sino Biopharmaceutical Ltd. had the largest increase, rising 6.5%. Today, 50 of 88 shares rose, while 35 fell; 2 of 4 sectors were higher, led by commerce and industry stocks. Source: Bloomberg
European equities extended gains for a fourth consecutive session on Thursday, with both the STOXX 50 and the STOXX 600 rising nearly 0.2% to fresh record highs. The advance reflected a broadly positive market sentiment following the resolution of the US government shutdown. After the House of Representatives approved the funding bill, President Trump signed it into law and reopening the government. Investors also focused on a series of corporate updates. Shares of Merck surged almost 7%, making it one of the top performers on the STOXX 600, after the company reported operating earnings...
Japanese stocks continued their rally on Wednesday (November 13th), boosted by the end of the US government shutdown, which boosted investor risk appetite. Furthermore, a weaker yen fueled expectations of an interest rate hike by the Bank of Japan (BoJ), which boosted banking stocks. The Topix index rose 0.7% to 3,381.72, while the Nikkei index rose 0.4% to 51,281.83. The weaker yen was a key factor supporting the Japanese stock market, with the yen weakening to near 155 per US dollar. Some analysts, such as Kazuhiro Sasaki of Phillip Securities Japan, said the weaker yen could prompt the...