The Nikkei 225 index fell 0.14% to close at 50,843 on Tuesday (November 11), losing gains from earlier in the session as investors took profits from rising tech stocks amid ongoing concerns over high AI valuations. Significant losses were seen in AI-related stocks such as Kioxia Holdings (-0.9%), Fujikura (-6%), Advantest (-4.1%), and Disco Corp (-4.5%). In corporate news, Honda Motor shares rose 0.8% even after cutting its full-year profit forecast amid pressure from US tariffs and a global chip shortage, while facing increasing competition from Chinese electric vehicle manufacturers. Sony...
Asian stocks were on the cusp of an intraday record high after US and global equity benchmarks hit fresh peaks, as the Federal Reserve's interest-rate cut bolstered sentiment. Stocks in Japan and Australia opened higher while South Korea was flat. The S&P 500, Nasdaq 100, Dow Jones Industrial Average and Russell 2000 small-cap index all closed together at fresh highs for the first time since November 2021. An MSCI index of global stocks also closed at a record in a sign of robust risk appetite. The yen was steady after Japan's...
All three major Wall Street indexes closed at record highs on Thursday (September 19) after the Federal Reserve continued easing interest rates and indicated the possibility of further rate cuts this year. The S&P 500 rose 0.5% and the Nasdaq 100 jumped 0.9%, both extending their record highs from the previous session, while the Dow Jones Industrial Average rose 123 points. Investors welcomed the Fed's quarter-point rate cut and the prospect of two additional cuts, interpreting the move as a shift toward supporting growth rather than strictly controlling inflation. Technology stocks...
European stocks closed sharply higher on Thursday (September 18th) thanks to strong support from major technology companies, as investors assessed policy decisions from major central banks and their impact on global interest rates. The Federal Reserve cut interest rates by 25 basis points, as expected, and issued a median projection of two more rate cuts this year, although upward revisions to core inflation expectations and higher growth dampened speculation of further cuts next year. Meanwhile, the Bank of England kept interest rates unchanged, as expected, but slowed the pace of its...
Stocks in the US were mostly higher on Thursday, with the S&P 500 rising 0.5% and the Nasdaq adding 0.8% while the Dow Jones traded around the flatline as traders digested the Fed's first interest rate cut of the year and better-than-expected jobless claims. The Fed signaled an additional 50bps of cuts this year, followed by another 25bps reduction in 2026. Volatility followed the decision and Chair Powell's press conference, where he framed the move as a "risk management" cut and cautioned that there are no risk-free paths. Meanwhile, initial jobless claims fell much more than expected...
The Hang Seng tumbled 363 points or 1.4% to close at 26,545 on Thursday, reversing early gains as sentiment turned sour amid a sharp drop in mainland markets. Pressure mounted after the PBoC today signaled no urgency to ease monetary policy, leaving its seven-day reverse repo rate unchanged at 1.4%. This fueled bets that Beijing may delay fresh stimulus until next year. In the US, the Fed lowered its benchmark rate as expected, with Chair Powell calling it a "risk management cut" while projecting two more reductions this year, another in 2026, one in 2027, and none in 2028. Profit-taking...