Asia-Pacific markets traded mixed Monday, as investors keep a close watch on the People's Bank of China's decision on its 1-year and 5-year loan prime rates for July, as well as the latest developments on the trade front. Trade came into focus once again over the weekend as the White House reiterated its position on tariffs. On Sunday, U.S. Commerce Secretary Howard Lutnick called Aug. 1 the "hard deadline" for countries to start paying tariffs, though he also added that "nothing stops countries from talking to us after August 1." South Korean markets started the day higher Monday. As of...
The Nikkei 225 and Topix indexes showed limited movement on Monday, as global political instability weighed on financial markets. Ongoing political crises in South Korea and France, along with the collapse of Syrian President Bashar al-Assad's regime, contributed to the uncertainty. Domestically, Japan's third-quarter economic growth was revised upward, indicating the country's second consecutive quarter of expansion. Investors are now awaiting business sentiment data later in the week to further assess the health of the economy. Notable declines were seen in index heavyweights such as...
Asian stocks started the week on a weak note, as investors grappled with South Korea's political upheaval and awaited fresh stimulus from Beijing. Oil prices steadied after Syria's government was toppled. Korean equity benchmarks fell as much as 1.8% at the open, with Australian shares also down. Japanese shares were flat. Futures pointed to a weak open in Hong Kong. The dollar and 10-year Treasury yields were steady. Investors are bracing themselves this week for a series of central bank decisions on four continents, a key meeting of Chinese officials and U.S. inflation data in a bid to...
he Nasdaq and the S&P 500 rose to record closing highs on Friday following upbeat forecasts from Lululemon Athletica and other companies and as U.S. jobs data fueled expectations the Federal Reserve would cut interest rates this month. The Dow finished lower, as a drop in UnitedHealth Group (UNH.N), shares weighed on the index. The S&P 500 consumer discretionary index (.SPLRCD), led gains among sectors, boosted by Lululemon. Shares of Lululemon Athletica (LULU.O), jumped after the sportswear maker increased full-year forecasts. Also in the consumer discretionary space, shares of...
Wall Street's main indexes opened higher on Friday as traders increased bets on a Federal Reserve rate cut this month after the November payrolls report. The Dow Jones Industrial Average (.DJI), opens new tab rose 58.6 points, or 0.13%, at the open to 44,824.29. The S&P 500 (.SPX), opens new tab rose 6.3 points, or 0.10%, at the open to 6,081.38, while the Nasdaq Composite (.IXIC), opens new tab rose 43.2 points, or 0.22%, to 19,743.959 at the opening bell. Source: Reuters
The Hang Seng Index jumped 305 points, or 1.6%, to close at 19,866 on Friday (6/12) after a weak session the previous day, supported by strong gains across all sectors. The index rose 2.3% weekly, rising for a second straight period, amid hopes of fresh stimulus from a key policy meeting in China next week that could set economic targets for 2025. Traders eagerly added new positions after Beijing published draft rules on Thursday offering incentives for government agencies to buy Chinese-made products. Meanwhile, Goldman Sachs and Morgan Stanley said the PBoC will cut its main policy rate...