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....
Japanese shares rose on expectations of expansionary fiscal policies even as the country's ruling party is set to hold a leadership contest and find a replacement for outgoing Prime Minister Shigeru Ishiba. Sentiment was also upbeat after Wall Street's gains on hopes the Federal Reserve will cut interest rates to curb a jobs downturn. The Topix Index rose 0.1% to 3,126.18 as of 9:15 a.m. Tokyo time The Nikkei advanced 0.4% to 43,646.92 SoftBank Group Corp. contributed the most to the Topix Index gain, increasing 6.8%. Out of 1,676 stocks in the index,...
Asia-Pacific markets opened mostly higher Wednesday ahead of key August inflation data from China. The mainland's August consumer price index is expected to fall 0.2% from the previous year, according to economists polled by Reuters, and compares with July's flat reading. Meanwhile, the producer price index is expected to fall 2.9% year on year, improving from the 3.6% drop in July. Japan's Nikkei 225 benchmark opened 0.2% higher, while the Topix index was flat. Over in Australia, the S&P/ASX 200 opened flat. Hong Kong's Hang Seng Index was set to open higher, with the futures...
All three major indexes closed at record highs Tuesday as investors moved past concerns about the state of the U.S. economy. The S&P 500 index settled up 0.27% at 6,512.61, while the Nasdaq Composite gained 0.37% to end the day at 21,879.49, with the latter hitting a new all-time intraday high as well. The Dow Jones Industrial Average finished up 196.39 points, or 0.43%, at 45,711.34, thanks to a surge in UnitedHealth shares. Investor worries that the economy may not be holding up as well as previously thought were exacerbated Tuesday after the Bureau of Labor Statistics updated its...
US stocks edged higher on Tuesday, with the three major averages up around 0.1%, as investors continued to bet on a Federal Reserve rate cut next week. Markets are also awaiting the BLS's preliminary revision to employment levels for the 12 months through March, with most analysts expecting a downward adjustment—pointing to a sharper slowdown in the labor market and bolstering hopes for rate cuts, including a 50 bps move next week. Inflation data will also be in focus this week, with both CPI and PPI reports due. Energy was the top performing sector while materials lagged. On the corporate...
The Hang Seng Index rose 304 points, or 1.2%, to close at 25,938 on Tuesday (September 9), extending its gains for a third session and reaching a four-year high thanks to broad sector strength. Sentiment was boosted amid speculation of a US interest rate cut as early as next week following weak US employment data, alongside Wall Street's gains that pushed the Nasdaq to a record close on Monday. Property stocks led the rally, rising 1.8% after Shenzhen eased restrictions on home purchases. Sentiment was also boosted by reports that China renewed bilateral currency swap agreements with...