European stock markets edged higher on Monday, as investors looked ahead to a trading week due to feature key economic data and a potential U.S. government shutdown. The pan-European Stoxx 600 had climbed by 0.3%, while the Dax in Germany gained 0.2%, the CAC 40 in France rose 0.1%, and the FTSE 100 in the U.K. increased around 0.2%. Shares of Britain's GSK rallied over 2%, boosting the wider health care sector, on news that the drugmaker's CEO Emma Walmsley will step down. Walmsley is due to be replaced by Luke Miels in January. AstraZeneca's stock price also ticked up after the U.K....
The Hang Seng tumbled 363 points or 1.4% to close at 26,545 on Thursday, reversing early gains as sentiment turned sour amid a sharp drop in mainland markets. Pressure mounted after the PBoC today signaled no urgency to ease monetary policy, leaving its seven-day reverse repo rate unchanged at 1.4%. This fueled bets that Beijing may delay fresh stimulus until next year. In the US, the Fed lowered its benchmark rate as expected, with Chair Powell calling it a "risk management cut" while projecting two more reductions this year, another in 2026, one in 2027, and none in 2028. Profit-taking...
The STOXX 50 jumped 0.7% and the STOXX 600 was up 0.5% on Thursday, as trackers digest the latest Fed decision. The central bank cut the fed funds rate by 25bps as expected and signalled 50bps of additional cuts until the end of the year. However, Chair Powell emphasized that the move should not be seen as the start of a new easing cycle. Meanwhile, the Bank of England is set to leave borrowing costs when it announces the monetary policy decision later in the day. On the corporate front, SAP (2.3%), ASML Holding (2%), Linde (1.8%), Siemens (1.3%) and Schneider Electric (2.2%) booked strong...
Japan stocks were higher after the close on Thursday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 added 1.20% to hit a new all time high. The best performers of the session on the Nikkei 225 were Resonac Holdings Corp (TYO:4004), which rose 11.65% or 540.00 points to trade at 5,175.00 at the close. Meanwhile, SUMCO Corp. (TYO:3436) added 7.39% or 104.50 points to end at 1,518.00 and Mitsui Mining and Smelting Co. (TYO:5706) was up 5.93% or 605.00 points to 10,810.00 in late trade. The worst performers of the session...
Hong Kong stocks added 44 points or 0.2% to 26,954 on Thursday morning, advancing for the second session and holding near four-year highs. Sentiment improved further after the Fed cut rates by 25bps for the first time in nine months and signaled two more reductions this year, citing labor market risks over inflation. The Hong Kong Monetary Authority followed, lowering borrowing costs to 4.5%, the lowest since November 2022. Chief Executive Eddie Yue said the move should support property and the wider economy. Tech stocks led the strength after Beijing reportedly ordered firms to halt Nvidia...
The Nikkei 225 advanced 0.4% toward 45,000 while the Topix added 0.1% to 3,150 on Thursday, with Japanese stocks rebounding from the prior session after the US Federal Reserve delivered a quarter-point rate cut as expected. The Fed also projected two more cuts this year but only one in 2026, countering market bets for two or three reductions next year. Domestically, the Bank of Japan began its two-day policy meeting, with rates widely expected to be left unchanged as officials assess the impact of US tariffs on Japan's export-driven economy. Still, analysts noted the BOJ could lift rates...