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
China's 10-year government bond yield plunged to around 1.98%, nearing an all-time low, following the release of the latest PMI data. On Wednesday, a private survey showed China's services PMI fell in November 2024 from a three-month high in October, missing market expectations. In contrast, earlier this week, the same survey offered a more optimistic outlook, with the manufacturing PMI showing expansion for a second straight month, hitting a five-month high and beating estimates. The mixed signals underscore the uneven recovery across China's economic sectors. Elsewhere, the Communist...
The Shanghai Composite declined 0.2% to around 3,372, while the Shenzhen Component dropped 0.1% to 10,700 on Wednesday, with Chinese stocks struggling to build on recent gains as caution prevailed in the region following a political upheaval in South Korea. Economic uncertainties in China, exacerbated by US President-elect Donald Trump's tariff threats, also weighed on the market outlook. Moreover, data showed that Chinese services sector growth unexpectedly decelerated in November amid slowing new business and foreign sales. Adding to the uncertainty, China's Politburo chose not to...
Hong Kong stocks rose 29 points, or 0.2%, to 19,781 in early trade on Wednesday, rising for a fourth session amid a sharp rise in U.S. stock futures after Wall Street hit another record high overnight, ahead of upcoming monthly U.S. jobs data and a speech by Fed Chair Powell. Meanwhile, private survey data showed China's services sector expanded for a 23rd straight month in November, although the pace of growth slowed from a three-month peak in October. Consumer and technology stocks were mostly higher, following remarks from China's central bank that it will adopt supportive policies next...
China Caixin General Services PMI fell to 51.5 in November 2024, down from a three-month high of 52.0 in October and below market expectations of 52.5. The latest reading reflected moderation in new business growth, despite faster growth in overseas sales. Meanwhile, employment increased for the third straight month, albeit only slightly. On the cost side, input prices rose slightly on higher wages, although the inflation rate eased to a 53-month low and remained below the series average. Output prices fell for the third straight month amid increased competition. Finally, business...
The Nikkei 225 Index dropped 0.2% to below 39,200, while the broader Topix Index fell 0.3% to 2,745 on Wednesday, trimming gains from the previous session as caution gripped the market following political turmoil in South Korea. South Korean President Yoon Suk Yeol unexpectedly declared martial law late Tuesday, citing efforts to prevent opposition parties from disrupting the parliamentary process. However, he reversed the decision after the National Assembly voted against the measure. In Japan, investors remained focused on the outlook for monetary policy, with speculation that the Bank...