Stocks were little changed Wednesday as Wall Street got ready to close out a bumper year for equities. Stocks are riding a three-session losing streak, although the declines have been mild and the S&P 500 is still set to lock in a 17% gain for the year, its third straight double-digit annual gain. The Nasdaq Composite has ridden AI enthusiasm to a 21% advance. The Dow is up 13% for 2025, hindered a bit by its lack of tech representation in the 30-stock average. That marks an impressive recovery from the rout seen in early April following President Donald Trump's sweeping tariffs...
The Nikkei 225 Index jumped 2.33% to close at 51,028, while the broader Topix Index rose 1.92% to 3,398 on Thursday, with the latter hitting fresh record highs as robot makers and technology shares rallied on renewed investor interest. Fanuc led the advance, surging 13% after the automation company recently announced a partnership with Nvidia to develop industrial robots. Other robotics firms posted strong gains as well, including Yaskawa Electric (11.4%) and Nabtesco (11.3%). Major tech names also climbed, with notable increases in SoftBank Group (9.2%), Lasertec (6.2%) and Disco Corp...
Hong Kong equities rose 75 points, or 0.3%, to 25,834 in Thursday morning deals, reversing a sharp drop the previous day as gains mainly from tech and consumer stocks lifted risk appetite. An extended rally on Wall Street overnight lent further support ahead of Friday's PCE index, the Fed's preferred inflation gauge, while markets priced in a potential 25bps rate cut next week amid softer labor market signals. Locally, economists expect Hong Kong's HIBOR to stay between 2-3% in the coming quarters, providing a stable backdrop for asset markets and the broader economy. Gains were capped,...
Asian stocks opened higher on Thursday, following gains in US markets. Positive sentiment stemmed from weak US jobs data, bolstering confidence that the Federal Reserve could cut interest rates at its meeting next week. The MSCI Asia stock index rose around 0.2%, while US stock index futures held steady after the S&P 500 rose 0.3% and the Nasdaq 100 gained 0.2% on Wednesday. In global financial markets, the US dollar index remained flat after previously falling 0.4%. US Treasury yields also fell, with the two-year yield hovering around 3.48% as expectations for an interest rate cut...
Japan's Nikkei index rose 0.7% to 50,211.09, driven primarily by shares of chip and industrial robot manufacturers. Renesas Electronics surged 7.1% and Fanuc rose 5.8%, providing a strong boost to the market, as the technology and robotics sectors are considered important drivers of the Japanese economy going forward. This rise occurred despite signs of a weakening labor market in the United States. Meanwhile, USD/JPY was hovering around 155.15, slightly weaker than its previous close of 155.52. Investors are now focused on Prime Minister Sanae Takaichi's policy moves and Japanese domestic...
US stocks extended their recovery as markets transitioned to looser Fed policy, with the Dow closing 0.9% higher, the S&P 500 gaining 0.4%, and the Nasdaq gaining 0.2%, as financial and defensive sectors outperformed due to a clear reweighting of near-term policy risks. ADP's surprise 32,000 decline in private payrolls pushed the chances of a Fed rate cut closer to certain. Wells Fargo and Citi each rose 3.5% as the prospect of looser policy reduced short-term funding costs and improved loan demand, while UnitedHealth jumped 4.7%. Marvel jumped 7.9% after raising its data center...