US stocks closed sharply lower on Friday as a Broadcom-led rout among the largest tech weights sparked a rotation into cyclicals and defensive names. The S&P 500 fell 1% and the Dow gave back 0.4% after touching record highs, while the Nasdaq dropped 1.8%, with Broadcom plunging 11.4% after warning of margin pressure. Other heavyweight, AI-exposed and semiconductor names also posted steep losses, including Nvidia (-3.3%), Oracle (-4.5%), Palantir (-2.1%), AMD (-4.8%), and Micron (-6.7%) setting the pace for a sharp selloff in the sector. The pullback reflects margin concerns and growing...
European stocks edged higher on Tuesday (December 9th) as global investors awaited the US Federal Reserve's monetary policy update. The pan-European Stoxx 600 index rose 0.17% at the opening bell. The Fed is widely expected to cut its benchmark interest rate at its final meeting of the year. Currency markets are currently pricing in an 87% chance of a quarter-point rate cut when the central bank concludes its two-day meeting on December 10th, according to the CME FedWatch tool. This move will serve as a benchmark for central banks in Europe, with the Swiss National Bank due to deliver its...
The Nikkei 225 index closed slightly higher by 0.1% at 50,635 on Tuesday, while the Topix index rose a very slight 0.02% to 3,385, after opening lower. The market managed to reverse initial losses thanks to the strengthening of technology stocks, which were the main drivers of the index's movement. Positive sentiment in the global chip sector increased after US President Donald Trump approved a deal allowing Nvidia to resume shipping H200 series AI chips to China. In Japan, technology and chip-related stocks also rose, including SoftBank Group (up 0.8%), Lasertec (up 3.6%), Disco Corp (up...
Hong Kong stocks opened lower on Tuesday, with the Hang Seng Index falling around 196 points, or 0.8%, to 25,565, extending its decline for a second session. Sentiment was weighed down by concerns that the US Federal Reserve might make a "hawkish cut" on Wednesday, lowering interest rates while signaling a possible pause in cuts in January. The benchmark index briefly touched a two-week low as investors cautiously awaited the release of China's November inflation (CPI) and producer price (PPI) data, due on Wednesday. However, selling pressure was somewhat mitigated after China's Politburo...
Asian stocks weakened in Tuesday's trading as market participants began to worry about the direction of the Fed's future policy easing, not just the near-certain interest rate cut this week. The MSCI Asia Index fell around 0.2%, with Korean, Japanese, and Australian markets opening lower. Meanwhile, US stock futures actually gained slightly after the S&P 500 fell 0.3% on Monday and US bond yields rose, in line with the decline in global bond prices. Australian bond yields also rose ahead of the local central bank's interest rate decision. The main market focus is the Fed's decision on...
Japanese stocks rallied in recent trading, led by the machinery and electronics sector, which benefited from a weaker yen. Kawasaki Heavy Industries shares rose around 3.4%, while Tokyo Electron Ltd. gained 2.1%. In the foreign exchange market, the USD/JPY pair hovered around 155.83, up from 155.26 at the Tokyo stock market close on Monday, making Japanese exporters' shares more attractive. Investors are now focused on the release of economic data ahead of next week's Bank of Japan (BoJ) policy meeting, which could provide clues to the direction of interest rates and monetary policy going...