European stocks ended mixed on the last trading day of the year. The pan-European Stoxx 600 index closed a shortened trading session 0.1% lower on Wednesday, with most sector indexes in negative territory. The U.K.'s FTSE 100 ended the day down 0.2%, bringing the index to an annual gain of 21.5% – its strongest yearly gain since 2009. Meanwhile, France's CAC 40 ended New Year's Eve down 0.2%, while Germany's DAX rose 0.6%. Italy's FTSE MIB gained 1.1%, bringing annual gains to 31.5% and its best year since 1998. Markets were open for a half-day of trading on Wednesday, and will be closed...
US stocks were higher on Tuesday, with the S&P 500 gaining 0.3%, the Nasdaq up 0.7%, and the Dow Jones adding about 20 points, attempting to rebound from Monday's losses. The risk-off mood that dominated the previous session eased, helped in part by a rebound in the Japanese bond market. Traders are also awaiting a series of economic releases due this week, including the September PCE report, ahead of next week's FOMC meeting, where the Fed is widely expected to cut the federal funds rate by 25 bps. Market pricing places the odds of such a move at around 87%. The tech sector booked the...
European stocks traded in mixed territory on Tuesday, with shares struggling to find momentum after a broad sell-off marked the first day of the new month. Shortly after the opening bell, the pan-European Stoxx 600 hovered just above the flatline, with no consensus movement seen among sectors and major bourses. Regional stocks traded lower on Monday, marking a gloomy start to the last trading month of the year in which investors are now expecting the U.S. Federal Reserve to cut interest rates when it meets on Dec. 9-10. Traders are pricing in an 87.2% chance of a quarter-point rate cut,...
The Hang Seng edged up 62 points, or 0.2%, to close at 26,095 on Tuesday, reversing prior-session losses amid gains in consumer stocks. Traders awaited insights from China's annual Central Economic Work Conference and the December Politburo meeting, while seeking opportunities in undervalued sectors. Locally, Hong Kong retail sales rose the most since late 2023 in October, marking a fourth straight monthly gain on the back of steady visitor arrivals. Early gains were trimmed as mainland markets fell, amid caution ahead of Wednesday's private Composite and Services PMIs. On the corporate...
The Nikkei 225 was little changed, closing at 49,303, while the broader Topix Index edged up 0.08% to 3,341 on Tuesday, as markets stabilized after a 1.89% drop in the previous session. Market sentiment improved after Bank of Japan Governor Kazuo Ueda said the BOJ would weigh the risks of rate increases while keeping financial conditions accommodative even after a potential hike. Sentiment was further boosted by Japanese Finance Minister Satyuki Katayama, who said there was no gap between the government and the Bank of Japan in their assessments of the economy. Gains in financials,...
Japanese stocks closed slightly lower on Tuesday, with the Nikkei 225 index down just 0.01%. The main pressure came from the Paper & Pulp, Transportation, and Communications sectors, which tended to weaken. Although the index appeared sluggish, the market was actually quite lively under the surface: the number of declining stocks far outnumbered the advancing ones, at 2,535 to 1,035, while the remaining 256 stocks remained unchanged. On the other hand, several leading stocks still stole the show. Nippon Electric Glass Co., Ltd. surged nearly 10% to 6,335.00, hitting a five-year high....