The Hang Seng Index rose 192 points, or 0.75%, to end at 25,690 on Friday, extending its gains for a third session as all major sectors advanced. Sentiment was boosted by continued gains in mainland China's stock market amid reports that ByteDance had reached an agreement with three major investors to form a joint venture to operate the TikTok app in the US, aiming to avoid a potential ban. Hopes for fresh stimulus from Beijing before the end of the year also supported the market, while traders awaited the upcoming People's Bank of China (PBOC) interest rate decision. Man Wah Holdings...
The Nikkei 225 index edged up 0.04% to 51,326, while the Topix index gained 0.69% to 3,301 on Thursday, hitting a new record. The gains came after the Bank of Japan held its benchmark interest rate at 0.5% by a 7-2 vote, with two members (Naoki Tamura and Hajime Takata) pushing for a rise to 0.75%. The market remains skeptical about the likelihood of a policy change in December, as the BOJ appears cautious, while Prime Minister Sanae Takaichi is known for her support of loose monetary policy. On the stock front, Advantest hit a new record after raising its profit forecast due to strong...
The Hang Seng Index rose 0.4% to 26,455.74 on Thursday (October 30th), marking a three-week high. The rise was driven by expectations of a deal at the Xi–Trump meeting and positive sentiment after the Fed cut interest rates by 25 basis points and the Hong Kong Central Bank (HKMA) followed suit. Meanwhile, Hang Seng Tech edged down 0.1%, while in mainland China, the CSI 300 fell 0.3% and the Shanghai Composite dropped 0.2%. Blue-chip stocks rose: China Hongqiao surged 6.4% to HK$29.44, Zijin Mining rose 3.9% to HK$32.32, Ping An Insurance rose 3.2% to HK$57.90, and HSBC added 2.1% to...
Asian stocks were mixed on Thursday after Fed Chairman Jerome Powell emphasized that a December interest rate cut was not a certainty. The region's benchmark indexes were virtually unchanged, while US stock futures fluctuated between gains and losses. The 10-year US Treasury yield hovered around 4.07%, adding pressure on riskier assets. Gold briefly edged up after four days of declines. On the issuer side, tech giant earnings results were mixed: Meta fell 7.7% in after-hours trading, Alphabet jumped 6%, and Microsoft weakened. In Asia, Samsung Electronics gained after earnings beat...
Japanese stocks are lower in early trade amid caution ahead of the Bank of Japan's policy meeting outcome due later Thursday. Tech and brokerage stocks are leading the declines. SoftBank Group is down 1.8% and Nomura Holdings is 2.1% lower. USD/JPY is at 152.78, compared with 152.28 as of Wednesday's Tokyo stock market close. Investors will be focusing on any progress in Prime Minister Sanae Takaichi's policy steps as well as the BOJ's assessment of the economy. The Nikkei Stock Average is down 0.1% at 51265.52. Source: Dow Jones Newswires
The S&P 500 closed lower Wednesday after easing from intraday record high as the Federal Reserve cut interest rates, though cooled expectations about the certainty of further rate cuts ahead. The Dow Jones Industrial Average fell 73 points, or 0.2%, the S&P 500 index closed marginally lower, and the NASDAQ Composite gained 0.6%. The Federal Reserve cut interest rates by 25 basis points on Wednesday for the second time this year, citing concerns about a softening labor market. The central bank also said it would stop reducing the size of its balance sheet as soon as December,...