Japanese stocks are lower due to a stronger yen and uncertainty over the impact of U.S. tariffs on corporate earnings. Auto, shipping and energy stocks lead declines. Mitsubishi Motors is down 2.1% and Kawasaki Kisen is 2.0% lower. Inpex is down 3.1% after crude oil prices fell overnight. USD/JPY is at 148.58, down from 148.81 as of Monday's Tokyo stock market close. Investors are closely watching any developments related to the leadership election for the ruling Liberal Democratic Party of Japan set for Saturday. The Nikkei Stock Average is down 0.1% at 45007.00. Source: Bloomberg.com
Asia-Pacific markets traded mixed Monday as investors assess China's RatingDog manufacturing data for August. The metric - which was previously known as the Caixin Purchasing Managers' Index - came in at 50.5, compared to a contraction of 49.5 the month before. Data released Sunday showed that the country's manufacturing PMI data came in at 49.4 in August, compared to 49.3 the month before. Investors are also assessing the developments in India and China relations, after leaders from both countries agreed that they are development partners, not rivals during a two-day meeting of the...
US stocks fell in the afternoon trading as investors took profits following a strong week that saw the S&P 500 reach record highs, amid signs that inflationary pressures remain persistent in the US economy. The S&P 500 lost 0.8%, the Nasdaq 100 declined 1.4%, and the Dow slipped 0.4%. Technology shares leading the retreat, with Nvidia dropping 3.8% as cautious guidance on China sales weighed on sentiment, while Dell slumped 8.6% after disappointing forecasts. Inflation remained in focus as the Fed's preferred gauge, the core PCE index, rose 2.9% year-on-year in July, the highest...
US stocks pulled back on Friday as the latest economic data continued to reflect stubborn inflationary pressures in the US economy, clouding the Fed's rate outlook. The S&P 500 and the Dow dropped 0.2% from record highs yesterday, while pressure for the heavyweight tech sector drove the Nasdaq down by 0.5%. Personal income and spending accelerated from the previous month to reflect a robust economy at the turn of the quarter, when President Trump toned down tariff threats. In the meantime, core PCE prices, the Fed's preferred gauge for underlying inflation, accelerated to 2.9%...
The Hang Seng Index rose 79 points, or 0.3%, to close at 25,078 on Friday (August 29th), snapping a three-day decline driven by gains in consumer and technology stocks. The index gained 1.2% in August, its fourth consecutive monthly gain, driven by momentum in Chinese stocks, which are nearing a decade-high thanks to strong institutional inflows, attractive valuations, and pro-growth policies, particularly around AI innovation and technological self-sufficiency. The market pared earlier gains as US index futures fell sharply ahead of the PCE inflation data, the Fed's preferred benchmark,...
European stock markets are heading for a mixed open on Friday as attention turns to inflation prints from some of the region's biggest economies, along with the U.S. Price rise data is due from France, Spain, Italy and Germany, ahead of the flash August reading for the euro area next Tuesday. Stateside, investors will be monitoring the personal consumption expenditures price index, a key metric for the Federal Reserve. It comes after Fed Chair Jerome Powell stoked expectations for an interest rate cut in September with a speech last week widely interpreted as dovish-tilting. Interest rate...