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...
Asian stocks slipped at the open on Friday (November 7), following a choppy session on Wall Street. The MSCI Asia Pacific Index fell about 0.2%, led by losses in Japan, while South Korea and Australia also edged lower. In the US, the S&P 500 fell 1.1% and the Nasdaq 100 slumped 1.9% for the second time in three sessions, as AI stocks from Nvidia and Palantir sold off. The volatility indicator briefly touched 20, reflecting growing market anxiety. In bonds, Treasury prices edged lower early in the Asian session after a strong rally earlier, when the 10-year yield posted its biggest daily...
Japanese stocks weakened on Friday following an overnight plunge in US technology stocks. A stronger yen also weighed on sentiment, with chip-related stocks leading the decline. Renesas Electronics fell 3.9%, SoftBank Group slumped 7.3%, and Advantest plunged 6.1%. In the forex market, USD/JPY moved to 152.95 from 153.87 at Thursday's close in Tokyo. A stronger yen typically weighs on exporters because overseas earnings are eroded upon conversion, putting pressure on the technology and chip component sectors. Investors are now awaiting the release of financial reports and details of Prime...
European stocks closed sharply lower on Thursday after a brief uptick the previous day as investors weighed a fresh round of mixed corporate earnings and signs of higher unemployment in the US. The STOXX 50 fell 1% to 5,613 and the STOXX 600 fell 0.7% to 567. Commerzbank shares slipped 2% after the lender reported a surprise 7.9% year-on-year drop in net profit. Also, Diageo fell 6.5% following a downgrade to its full-year outlook, while Maersk lost 5.1% despite posting upbeat results and Rheinmetall fell 0.5% despite posting a 20% increase in sales. On the upside, DHL jumped 5.4% to rank...
Strong evidence of a cooling US labor market rippled through Wall Street, spurring a rally in bonds as traders boosted their bets the Federal Reserve will cut rates in December. A slide in megacaps dragged down stocks. With the scarcity of data caused by the federal shutdown, investors have turned to private readings such as the Challenger, Gray & Christmas Inc. report showing companies announced the most job cuts for any October in over 20 years. Following the numbers, money markets now imply an about 60% chance of a...
The Hang Seng Index rose 2.1% at 26,485.90 in Hong Kong. The move was the biggest since rising 2.4% on Oct. 20 and follows the previous session's decrease of 0.1%. Today, commerce and industry stocks led the market higher, as all sectors gained; 83 of 88 shares rose, while 4 fell. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 4.1%. China Hongqiao Group Ltd. had the largest increase, rising 9.9%. Source : Bloomberg