The Hang Seng added 18 points, or 0.1%, to close at 25,946 on Thursday, marking a fourth straight session of gains amid strength mainly from financials. Sentiment was lifted by Beijing's new plan to spur consumption, including rural consumer goods upgrades and support for sectors such as pets and toys. A modest rise in mainland stocks also aided risk appetite, amid optimism toward the domestic AI sector. On the data front, however, October figures showed China's industrial profits dropped for the first time in three months, reflecting weak domestic demand and export challenges. Trading was...
European stocks rose Monday, starting the new week on a positive note given renewed optimism that the U.S. Federal Reserve can cut interest rates next month. Fed rate cut hopes boost sentiment European stock markets have followed the gains seen in Asia earlier Monday, boosted by comments from influential Federal Reserve policymaker John Williams who said at the end of last week that U.S. interest rates can fall "in the near term". The Fed's next meeting will take place on Dec. 9-10 and markets are currently pricing in a 69.3% chance of a quarter-percentage-point cut, according to the CME...
Hong Kong stocks rebounded strongly in the morning session on Monday (November 24th), rising 266 points or 1% to 25,478 after six consecutive days of declines. This increase occurred as investors began buying low-priced stocks, particularly in the property, financial, and technology sectors. Sentiment was also boosted by strengthening US index futures, after New York Fed President John Williams signaled that interest rates could be cut again this year due to the weakening labor market. Furthermore, Premier Li Qiang's comments on China's critical minerals policy, emphasizing a balance between...
Asia-Pacific markets started the week with gains after New York Fed President John Williams signaled that a third interest rate cut is still possible this year. His statement that labor market weakness is a greater risk than inflation has increased the odds of a December rate cut, with the market now pricing in around a 70% chance. Today's gains also represent a rebound from last week's decline, when Asian technology stocks plunged. South Korea led the recovery, with the Kospi rising 1.28% and the Kosdaq gaining 0.5%, while Samsung jumped more than 3%. In Australia, the ASX 200 index rose...
The Dow Jones Industrial Average rebounded on Friday after New York Federal Reserve President John Williams suggested the central bank could cut interest rates yet again this year. The blue-chip index gained 529 points, or 1.2%. The Nasdaq Composite advanced 1.1%, as did the S&P 500 "I view monetary policy as being modestly restrictive, although somewhat less so than before our recent actions," Williams said in remarks for a speech in Santiago, Chile. "Therefore, I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance...
European stocks posted their worst week since August as a risk-off mood hit some of this year's biggest winners on concerns about lofty technology valuations and an uncertain US monetary policy outlook. The Stoxx Europe 600 Index was down 0.3% by the close, extending losses since Monday to 2.2%. The index came off session lows after Federal Reserve Bank of New York President John Williams said he sees room for the US central bank to cut interest rates again in the near term. Energy and technology stocks tumbled the most on Friday, while defensive sectors including food...