The Hang Seng Index surged 495 points, or 1.9%, to close at 26,322 on Monday (September 29th), recovering from two sessions of decline as all sectors contributed to the rally. Optimism increased after China's central bank on Friday promised stronger coordination between monetary and fiscal policies to support growth, while Goldman Sachs projected interest rate and RRR cuts for banks in the fourth quarter of 2025. Sentiment was also lifted by signs that Beijing's crackdown on price wars is working, with authorities urging Chinese companies in the US to avoid aggressive discounting....
Hong Kong shares rose 52 points or 0.2% to 25,468 in Monday morning trade, gaining for the second session as U.S. futures inched up after weak U.S. labor data boosted expectations of rate cuts this month. Mainland markets advanced further after weekend data showed China's forex reserves in August hit their highest since December 2015, helped by a weaker dollar, while the central bank continued to build gold holdings. Gains were led by consumer and tech stocks as property and financials lagged. Sentiment was capped by caution ahead of China's August trade data due later today, with markets...
The Nikkei 225 Index climbed 1.1% to above 43,500 while the broader Topix Index gained 0.7% to 3,127 on Monday, with Japanese shares edging closer to record highs after Prime Minister Shigeru Ishiba announced over the weekend that he will step down. His resignation followed intensifying rifts within the ruling party and weeks of pressure stemming from his national election defeat late last year. The move also came as Japan faced setbacks in securing a trade deal with the US while trying to shield its key auto industry from steep tariffs. At the same time, Japan's second quarter GDP growth...
Asia-Pacific markets traded mostly higher Monday as investors assessed the resignation of Japan's prime minister and eyed key economic data in the region. Japan's benchmark Nikkei 225 rose 0.95% after Japanese Prime Minister Shigeru Ishiba announced his resignation Sunday, following weeks of mounting pressure over his national election defeat late last year. The Topix climbed 0.51%. The Japanese yen weakened 0.64% to 148.33 against the greenback. "Japan is now set for a period of extended uncertainty going into Q4 2025," wrote analysts from BMI, a unit of Fitch Solutions. "Although the...
US stocks closed lower on Friday after weaker-than-expected August jobs data raised concerns about a slowing economy, even as expectations for Federal Reserve rate cuts firmed. The S&P 500 gave up earlier gains, ending 0.3% lower and below Thursday's record close, the Dow dropped 220 points, while the Nasdaq 100 was flat. The economy added just 22K jobs, well below the 75K forecast, while the unemployment rate rose to 4.3%, highlighting a cooling labor market. Traders priced in a higher chance of interest-rate cuts, with bets rising on a potential 50bps reduction this month. Banks,...
European stocks closed on Friday, tracking the pullback in US equities after pessimistic labor data from the US sounded alarms over the world's largest economy. The Eurozone's STOXX 50 dropped 0.6% to 5,330, and the pan-European STOXX 600 fell 0.2% to 549. Nonfarm payrolls in the US were well under market expectations and the unemployment rate, which is under special scrutiny by the Federal Reserve, rose to a near-four-year high. The results backed bets of incoming cuts by the Fed, but such support was offset by concerns of a weakening economy and the pressure on export-oriented sectors in...