Asian stocks advanced for a second consecutive day as progress toward ending the record-long US government shutdown lifted sentiment, sparking a cross-asset rally from commodities to cryptocurrencies. Shares in Japan, South Korea and Australia all rose at the open. The S&P 500 rose 1.5% on Monday and the Nasdaq 100 added 2.2%. The MSCI All Country World Index had its best day since late June and a Bloomberg gauge of commodity prices rose to the highest level since August 2022. An index of the dollar weakened on Monday,...
Shutdown AS Reda, Investor Asia Gaspol Lagi? The reopening of the US federal government is approaching. This has given investors relief as official economic data will begin to flow again, providing clues to the direction of monetary policy. Risk sentiment is strengthening: the Hang Seng Index is nearing a one-month high of 26,651, while the Hang Seng Tech index edged up 0.3%. In mainland China, the CSI 300 and Shanghai Composite Index fell 0.2%. Blue-chip stocks rose: Baidu +2.9%, Xiaomi +2.2%, HSBC +2.0%, and AIA +1.7%. The boost comes from news that the US Senate is advancing plans to...
The Nikkei 225 index fell 0.14% to close at 50,843 on Tuesday (November 11), losing gains from earlier in the session as investors took profits from rising tech stocks amid ongoing concerns over high AI valuations. Significant losses were seen in AI-related stocks such as Kioxia Holdings (-0.9%), Fujikura (-6%), Advantest (-4.1%), and Disco Corp (-4.5%). In corporate news, Honda Motor shares rose 0.8% even after cutting its full-year profit forecast amid pressure from US tariffs and a global chip shortage, while facing increasing competition from Chinese electric vehicle manufacturers. Sony...
The Hang Seng added 47 points, or 0.2%, to close at 26,696 on Tuesday, reversing morning losses amid eventual gains in property and financial stocks. Markets ended in the green for the second day, supported by relief over the impending end of the U.S. government shutdown, after the Senate passed a funding deal. At the same time, hopes grew that domestic activity in China will remain resilient toward year-end as Beijing continues its efforts to support the sluggish economy. Meanwhile, Hong Kong's final Q3 GDP figures are due later this week and may show modest improvement, according to flash...
Stocks in Europe were higher on Tuesday, with the STOXX 50 adding 0.5% and the STOXX 600 rising 0.6%, extending gains from the previous session, amid further signs the end of the US government shutdown is close. After a pact reached in the Senate on Sunday between some Democrats who defected the party's leadership and some Republicans, the US Senate voted 60-40 yesterday to pass a bill to end the longest ever government shutdown in the US. Fresh corporate updates also boosted investor sentiment. Shares of LVMH were up 1.8% after Bloomberg reported the luxury brand is set to open major...