The Nikkei 225 Index slumped 3.2% to close at 48,703, while the broader Topix Index plunged 2.88% on Tuesday, falling for the third consecutive session as investors sold off tech stocks following Wall Street's sharp decline overnight ahead of the US jobs report and Nvidia's quarterly results. The Nikkei posted its steepest drop in more than seven months, hitting its lowest level since October 23. Escalating Tokyo–Beijing tensions also pressured sentiment, with retail stocks trading mixed after a sharp fall in the previous session. Traders closely watched a meeting between Japanese Prime...
Asia-Pacific markets traded mixed Monday, while the Reserve Bank of Australia will kickstart its two-day policy meeting where it is expected to hold its cash rate steady at 3.6%, according to a Reuters poll. "The RBA are likely to find themselves in a tougher position than recent meetings. There is real tension building in the data flow," the Commonwealth Bank of Australia wrote in a note, citing how the country's August CPI indicates "material upside risks to Q3 inflation" as well as a a cyclical upswing in the activity data. However, CBA's economists also pointed to signs of softer...
US stocks closed higher on Friday (September 26th), as investors reacted positively to an inflation report that met expectations, while also considering President Trump's new wave of tariffs and weakening consumer sentiment. The S&P 500 rose 0.6%, the Nasdaq 100 gained 0.4%, and the Dow Jones Industrial Average gained 300 points, all ending a three-session losing streak. The August PCE Index, the Fed's preferred inflation measure, showed core inflation at 2.9% year-on-year, supporting expectations for two quarter-point interest rate cuts in the upcoming meeting. Boeing (+3.6%) and...
European stocks closed sharply higher on Friday, recovering from losses in the previous two sessions, as markets reassessed the impact of new US tariffs and how major European companies should navigate global tariff uncertainty. The Eurozone STOXX 50 rose 0.9% to 5,495, and the pan-European STOXX 600 gained 0.7% to 554. Major bank stocks led the session's gains amid falling long-term bond yields in the currency bloc, supporting BBVA, BNP Paribas, Nordea, and Intesa Sanpaolo to gain more than 2%. Meanwhile, ArcelorMittal rose 3% on news that the European Commission plans to impose tariffs of...
The Hang Seng slipped 356 points, or 1.4%, to end at 26,128 on Friday, marking a second straight session of losses as consumer stocks slumped after President Trump proposed steep tariffs, including a 100% levy on branded drugs not made in the U.S., a 25% tariff on heavy trucks, and duties of up to 50% on furniture. Sentiment was also cautious ahead of China's week-long National Day and Mid-Autumn Festival holidays starting October 1, and Hong Kong markets also shut on October 1 and 7. Pharma stocks led falls, with the Hong Kong-listed innovative drug index down 3%, dragged by Wuxi Biologics...
Major European bourses traded slightly higher on Friday, with the STOXX 50 up 0.4% and the STOXX 600 gaining around 0.3%, after two straight sessions of losses. However, upside momentum was capped by US President Trump's new tariff measures. Starting October 1st, branded or patented pharmaceutical products will face a 100% tariff unless the manufacturer is building a production facility in the US. Additional duties include a 25% levy on heavy trucks, a 50% tariff on kitchen cabinets and bathroom vanities, and a 30% tax on upholstered furniture imports. Sector-wise, travel and leisure,...