Japanese stocks opened lower in trading this morning, after the benchmark Nikkei index surged sharply the day before and briefly set a new record. This time, profit-taking has slightly restrained market movements. The Nikkei Stock Average fell around 0.3% to 52,363.15. This correction occurred shortly after the Nikkei hit a record high on Tuesday, so it's understandable that some investors chose to secure profits first. The biggest pressure came from the automotive and property sectors. Honda Motor shares fell 2.4%, while Sumitomo Realty & Development fell 2.6%, becoming the two main...
Hong Kong equities dipped 287 points, or 1.1%, to 26,431 in Wednesday morning trade, reversing rallies from the past three sessions as traders booked profits after the market touched a seven-week high. Broad sector weakness weighed, with tech and consumer stocks leading declines, ahead of China's December CPI and PPI data later this week and Hong Kong's forex reserves figures due today. Losses were limited, however, after China's central bank signaled its readiness to cut rates and lower banks' reserve requirements this new year to bolster the slowing economy. The PBoC also pledged stronger...
Japanese stocks fell for the first time this year after a record-breaking rally, as investors took profits and the market worried about the impact of new export restrictions from China. The Topix index closed down 0.8% to 3,511.34, and the Nikkei 225 fell 1.1% to 51,961.98. The automotive sector was the target of selling, with Toyota falling 2.7% (its worst since November 18), followed by Honda, Suzuki, Subaru, and Mazda. Machinery and heavy industry stocks such as Hitachi, Kawasaki Heavy, and Mitsubishi Heavy also fell. The trigger came after China imposed export controls to Japan on goods...
European stocks were in mixed territory on Wednesday morning, as regional market jitters grow over U.S. President Donald Trump's threat to annex Greenland. The pan-European Stoxx 600 was little changed shortly after the opening bell, with sectors and major regional bourses in mixed territory. Following the U.S.′ capture and arrest of Venezuela's leader Nicolas Maduro, global market attention is swiftly turning to President Trump's intentions when it comes to Greenland, an autonomous territory of Denmark. The president and his team are considering "a range of options" in order to acquire...
US stocks were mixed on Wednesday as investors weighed uneven economic data against expectations for eventual Federal Reserve easing, with the S&P 500 easing 0.2% and the Dow Jones sliding 0.8% from recent record highs, while the Nasdaq 100 gained 0.1%. JOLTS showed a sharp decline in job openings, pointing to cooling labor demand, while ADP reported a modest rebound in private hiring and the ISM Services PMI surprised to the upside, reinforcing the view of a slowing yet resilient economy. At the stock level, JPMorgan Chase and Bank of America fell more than 2%, dragging on the Dow...