Three major US indexes closed at new record highs after a lower-than-expected inflation report raised the possibility of a Federal Reserve interest rate cut later this year and prompted investors to shift to riskier assets. The S&P 500 rose 0.8%, the Nasdaq rose 1%, and the Dow Jones Industrial Average rose 470 points. Technology stocks led the rally, with AMD and IBM surging 7.5% and 8.77%, respectively, after IBM said it had successfully implemented a key quantum error correction algorithm on AMD chips, boosting sentiment across the sector. Intel rose 1.6% after returning to...
The Nikkei 225 index closed up 4.8% to 47,944.76 on Monday (October 6), posting its biggest daily surge since April. The rise was led by heavy industry and electronics stocks, which benefited from expectations of new fiscal stimulus after Sanae Takaichi was named Japan's next Prime Minister. Market sentiment was boosted by hopes that Takaichi's pro-stimulus administration would support economic growth, while the Bank of Japan was expected to delay interest rate hikes. Stocks such as Mitsubishi Heavy Industries and Tokyo Electron recorded significant surges. In addition to domestic...
The political deadlock in Washington has shaken the Hong Kong stock market. The Hang Seng Index fell 0.6% this morning to 26,976.92, driven by concerns about the US government shutdown, which has triggered a flight to safe havens like gold. The pressure was even deeper in the technology sector, with Hang Seng Tech falling 1.5%. Major stocks like SMIC, Kuaishou, Li Auto, and BYD all fell by more than 3%. On the other hand, safe haven stocks shone. Zijin Mining, a giant gold miner, jumped 4% as gold continued to be sought amid US uncertainty. Tencent and Meituan also managed to gain some...
Asian stocks surged to new highs, led by Japan's Nikkei 225, which surged more than 4% following the election of pro-stimulus lawmaker Sanae Takaichi as the next prime minister. This unexpected political shift boosted investor optimism, fueling gains across the region and pushing the MSCI Asia stock index to a record high. Meanwhile, the Japanese yen weakened sharply against the US dollar and the euro, sliding toward the psychologically key 150-dollar level as concerns about a delay in the Bank of Japan's interest rate hike intensified.Gold continued its strong rally, rising above $3,900 an...
Japanese stocks surged nearly 3% in early trading Monday after pro-stimulus politician Sanae Takaichi won the Liberal Democratic Party leadership election. This victory paves the way for Takaichi to become Japan's first female prime minister and fueled market optimism over the potential for increased fiscal spending and economic stimulus. The yen weakened 1.2% against the dollar, approaching the 150 level—a key psychological point for the foreign exchange market. Meanwhile, Japanese bond yields are expected to rise due to expectations of increased debt issuance under Takaichi's leadership....
The S&P 500 closed mostly flat on Friday, the Dow Jones extended its record run, rising 240 points finisheing at 46,758 after briefly surpassing 47,000 during the session, while the Nasdaq slipped 0.3% as the US government shutdown entered its third day. Pressure came from major technology names, with Palantir Technologies leading the S&P 500 lower, dropping 7.5%, while Tesla and Nvidia fell 1.4% and 0.7%, respectively. Applied Materials declined 2.7% after warning of a $600 million revenue hit tied to semiconductor export restrictions. Investors focused on the shutdown, which...