Asian stock markets continued their rally for a third day, tracking gains on Wall Street. Indexes in Japan, South Korea, and Australia opened higher after the S&P 500 rose 0.9% and the Nasdaq 100 gained 0.6%. Meanwhile, markets also focused on Chinese stocks after Alibaba weakened in US trading following its earnings report. This positive sentiment arose after US consumer confidence data for November fell sharply and retail sales rose only slightly. The data signaled that consumer spending was beginning to slow after several months of strong demand, reinforcing market expectations that...
Hong Kong's equity markets commenced Wednesday's trading session in positive territory, with the benchmark Hang Seng Index rising by 169 points, or 0.65%, to reach 25,999. The rally was broad-based, with the Hang Seng China Enterprises Index climbing 52 points, or 0.56%, to 9,203, while the Hang Seng Tech Index gained 39 points, or 0.7%, settling at 5,646. The financial sector contributed significantly to the upbeat mood. Insurance giant AIA Group led the gains with a 1.6% ascent, while Hong Kong Exchanges and Clearing advanced by 1%. HSBC Holdings and Ping An Insurance Group also...
Asian chip stocks opened higher on Thursday after Nvidia reported better-than-expected results and provided a highly optimistic outlook, reinforcing market confidence in the global AI-driven trading theme. Nvidia shares rose more than 4% in after-market trading after its third-quarter earnings and revenue beat expectations, along with a higher-than-expected fourth-quarter sales projection. CEO Jensen Huang called demand for Blackwell's next-generation chips "off the charts."In Japan, the Nikkei 225 index jumped as much as 3.7% early in the session, while the Topix index rose about 1.67%....
Japanese shares rose, rebounding from a four-day losing streak, as AI-related stocks climbed following an upbeat earnings forecast from US chip titan Nvidia Corp. The blue-chip Nikkei 225 gained as much as 3.7%, the most since Oct. 6, to 50343.25 while the broader Topix index rose as much as 2.3% to 3319.54 in early Tokyo trading. Tech names led the rise, with SoftBank Group Corp. jumping as much as 9.1% and chip gear makers Tokyo Electron Ltd. and Ibiden Co Ltd. advancing over 7%. The gains in Japan come after Nvidia's shares rose over 4% post-market following the company's...
US stocks finished higher on a volatile Wednesday session, reversing some of the sharp selling from the prior four sessions as markets digested a divisive Fed minutes release and awaited Nvidia's earnings after the close. The S&P 500 rose 0.4% and the Nasdaq 100 gained 0.6% while the Dow added 0.1%. Nvidia was up 2.9% as analysts expect solid, though moderating, revenue growth and will focus on its outlook for AI services and data centre compute capacity. Retail results were mixed with Target down 2.8% and Lowe's and TJX higher. The FOMC minutes showed disagreement among officials over...
European stocks inched higher on Wednesday to halt the selloff from the four prior sessions as markets continued to assess the outlook of the Fed's monetary policy and gauge fair values for the highly-speculative tech sector. The Eurozone's STOXX 50 rose 0.3% to 5,552 and the pan-European STOXX 600 inched above the flatline to 563. Investor sentiment, however, remained subdued as concerns over overvaluation in AI and tech stocks persisted, with Nvidia set to report quarterly results after the North American closing bell. Companies with exposure to AI were mixed ahead of the major event,...