The Nikkei 225 Index rose 1.27% to close at 48,278 while the broader Topix Index added 0.62% to 3,203 on Thursday, extending gains from the previous session as investors navigated political uncertainty in Japan, while a strong earnings season kept the momentum in stocks. The ruling Liberal Democratic Party proposed holding a vote for a new prime minister on Oct. 21, though opposition parties have yet to agree on the date, keeping the outlook for LDP's Sanae Takaichi unclear. Sentiment was also lifted by a solid start to the earnings season, bolstered by expectations of US rate cuts and...
The Hang Seng Index plunged 462 points, or 1.7%, to close at 26,290 on Friday (October 10), extending its decline for the fifth consecutive session and hitting a two-week low. Technology stocks led the decline, down more than 3%, after China tightened rare earth metal export controls and increased restrictions on chip imports to reduce reliance on US products such as Nvidia's AI processors. Consumer goods stocks also fell about 2.7%, as investors grew cautious ahead of key Chinese data for September next week, including trade, CPI/PPI, and credit data. Top losers included Zhojin Mining...
European stocks were flat on Friday morning, but the Stoxx Europe 600 was still headed for a weekly gain of ~0.2% as French political concerns eased. The automotive and consumer goods sectors led the way, while energy and mining lagged. ArcelorMittal briefly fell as much as 5.2% after Goldman Sachs cut its rating from buy to neutral due to its perceived "overstretched" valuation. Sentiment improved after news that President Emmanuel Macron would appoint a new prime minister on Friday evening, helping to stem the decline in French stocks following the resignation of Sebastien Lecornu. The...
Japanese stocks closed lower on Friday after the semiconductor sector was hit by a sell-off due to concerns about overvaluation and a weakening Philadelphia Semiconductor Index. The Topix fell 1.8% to 3,197.59, while the Nikkei fell 1% to 48,088.80. Sony Group was the biggest drag on the Topix, falling 4%. Of the 1,672 stocks on the Topix, 155 rose, 1,490 fell, and 27 remained unchanged—indicating widespread selling pressure. In corporate stocks, Seven & i fell 3.5% after cutting its full-year forecast below analyst expectations due to a weakening domestic convenience store business....
The Hang Seng Index fell 0.9% to 26,518.27 on Friday morning (9:50 a.m. local time), following a pause in the Wall Street rally and concerns that AI hype has led to overpriced valuations. The biggest pressure came from large tech stocks: Baidu -3.2%, Alibaba -2.2%, JD.com -1.9%, followed by Li Auto -3.3% and Zijin Mining -4.5%. The Hang Seng Tech Index also fell 2.3%, putting the Hang Seng on track for its worst weekly decline in 10 weeks. Several stocks held off further losses: Pop Mart +1.6%, Trip.com +0.2%, and Hang Seng Bank +0.2%—continuing the previous day's 26% surge following HSBC's...
The Nikkei index weakened 0.4% to 48,397.29 in early trading, following Wall Street's overnight decline that sparked risk-off sentiment. According to Commerzbank Research analysts, the market is still searching for new catalysts amid a lack of US data releases due to the government shutdown, so the short-term direction is likely cautious. Several stocks led the decline: SBI Holdings -3.6%, Sugi Holdings -3.3%, and Sumitomo Forestry -2.7%. In the forex market, USD/JPY was around 153.15 (vs. 153.08 in New York), indicating a persistently weak yen—a factor that typically helps exporters, but...