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Stocks in major Asian markets saw gains on the first trading day of December as Chinese factory activity presented a positive surprise in November.
Tokyo shares opened higher after US stocks gained on expectations for progress in the trade talks, dealers said. "Japanese investors shared the hope," said Yoshihiro Okumura, general manager at Chibagin Asset Management. "Britain's election has also made players cautious," Okumura told AFP.
The Wall Street Journal reported Thursday that Washington and Beijing are still in disagreement over the size of China’s agricultural purchases. Meanwhile, China has given little indication on how negotiations with the U.S. are progressing.
The dollar rose and global equity markets rallied on Friday after data showed U.S. job growth increased by the most in 10 months in November, putting to rest fears of recession and briefly taking the spotlight off the U.S.-China trade talks. U.S. Treasury and German bund yields jumped, while gold slipped as much as 1%, reflecting increased investor appetite for risk. The stronger-than-expected Labor Department data showed steady wage gains and the unemployment rate falling to 3.5%, suggesting consumers will continue to drive the longest economic expansion in U.S. history, now in its 11th year.
Japanese Finance Minister Taro Aso said on Friday he did not believe the central bank's negative interest rate policy was behind a megabank's decision to consider implementing fees on some banking services. Aso made the comment after Mitsubishi UFJ Financial Group (MUFG) confirmed it was weighing such a move, following a report in the Nikkei business daily that the bank was considering fees on dormant accounts and other services. Years of the central bank's heavy money printing have failed to fire up inflation and crushed long-term interest rates near zero, drawing criticism from financial institutions for narrowing their margins and hurting their profits.
The dollar rose and global equity markets jumped on Friday after data showed U.S. job growth increased by the most in 10 months in November, putting to rest recession fears and briefly taking the spotlight off contentious U.S.-China trade talks. U.S. Treasury yields rose, while gold slipped more than 1%, reflecting a rebound in investor appetite for risk as U.S. unemployment dipped to 3.5%, the lowest in nearly half a century. Stocks on Wall Street neared record highs, with the benchmark S&P 500 closing within 0.24% of its peak set nine days ago.
Tokyo stocks opened higher on Friday, extending rallies on Wall Street supported by continued hopes for a US-China trade deal. The benchmark Nikkei 225 index edged up 0.31 percent or 72.91 points to 23,373.00 in early trade, while the broader Topix index was up 0.21 percent or 3.61 points at 1,715.02.
Global shares mostly rose Thursday amid renewed hopes that a U.S. trade deal with China may be near despite recent tough talk from President Donald Trump. After Asian markets largely closed higher, France’s CAC 40 added nearly 0.7% to 5,839, while Germany’s DAX inched up less than 0.1% to 13,135. Britain’s FTSE 100 dipped 0.3% to 7,167.
Tokyo stocks closed higher on Thursday as investors welcomed fresh stimulus measures for Japan and rallies on Wall Street after upbeat reports about US-China trade talks. The benchmark Nikkei index climbed ...
The dollar slid and global equity markets traded little changed on Thursday as enthusiasm over Apple shares was offset by doubts about the likelihood of a "phase one" trade deal before a new round of U.S. tariffs on Chinese imports begins in 10 days. Treasury yields rose on reports indicating a resilient U.S. economy, including a fall in weekly jobless claims and a decline in the U.S. trade deficit, which suggested trade could contribute to growth in the fourth quarter. U.S. President Donald Trump's remarks on trade during his London visit for the NATO summit baffled investors.
India's dominant services sector bounced back to growth in November, expanding at its fastest pace in four months, driven by a strong pick-up in new business, a private sector survey showed on Wednesday. "The main positive to be taken from November's survey was a renewed increase in new work, which provided the platform for growth of services activity and employment whilst resulting in an improvement in business confidence," said Pollyanna De Lima, principal economist at IHS Markit, in a press release. Wednesday's upbeat survey comes after official data showed India's annual economic growth slowed to 4.5% in the July-September quarter, its weakest pace since 2013.
Tokyo stocks ended lower on Wednesday, dragged down by diminished hopes for an imminent US-China trade deal and a stronger yen. "The market started under selling pressure following falls of the three major US indices as President Trump hinted at delays in reaching an agreement in the US-China trade negotiations," Okasan Online Securities said in a note. Bargain hunting also prevented sharper falls in Tokyo, said SMBC Nikko Securities, but China-related shares suffered.
A number of leading Wall Street banks are advising clients to make heavy bets on Hong Kong stocks, urging them to look again at a market that has been hammered by months of political tumult. On Wednesday, the IMF predicted Hong Kong’s economy would contract 1.2 per cent this year and grow just 1 per cent in 2020 in comparison with a 3 per cent expansion in 2018. Companies listed in the index derive much of their revenue from mainland China, meaning they would benefit from a “phase one” trade deal between the Washington and Beijing.
Tokyo stocks opened lower on Wednesday, dragged down by diminished hopes for an imminent US-China trade deal, and a stronger yen. The benchmark Nikkei 225 index fell 0.75 percent or 176.04 points to 23,203.77 in early trade while the broader Topix index was down 0.59 percent or 10.06 points at 1,696.67. "Equity markets have had a bit of a reality check as President Trump pours cold water over an imminent trade deal with China," said Rodrigo Catril, senior strategist at National Australia Bank.
Government debt yields and a gauge of global equity markets rose on Wednesday as sentiment improved after U.S. President Donald Trump said trade talks with China were going "very well" and a news report suggested key differences were being ironed out. The safe-haven yen and Swiss franc fell as Trump's encouraging comments on the U.S.-China trade negotiations boosted "risk-on" sentiment. The dollar index fell after the Institute for Supply Management (ISM) reported activity in the U.S. services sector slowed more than expected in November amid lingering concerns about trade tensions and worker shortages.
Japan is preparing an economic stimulus package worth $120 billion to support fragile growth, two government officials with direct knowledge of the matter said on Tuesday, and complicating government efforts to fix public finances. The spending would be earmarked in a supplementary budget for this fiscal year to next March and an annual budget for the coming fiscal year from April. The Nikkei business daily reported on the weekend that the government was considering putting together a large-scale stimulus package with fiscal spending exceeding $92 billion.
The Australian share market suffered its worst day since mid-August on renewed fears over global trade uncertainty. The sell-off wiped on $50.8 billion in value from the market and was the largest single-day drop since a 187.8 point loss on August 15.
Global shares turned lower on Tuesday amid pessimism over a standoff between the U.S. and China and new tensions between the U.S. and France on tariffs. President Donald Trump appeared to downplay the chances for a deal to end the U.S.-China trade war before the end of the year. Speaking in London where he is attending a NATO summit, Trump said that the only limiting factor to reaching an agreement with China is whether he wants to make a deal.
Tokyo stocks closed lower on Tuesday as investors locked in profits following declines in American shares, which came under pressure from weak US data and trade worries. The benchmark Nikkei 225 index ...
Tokyo stocks opened lower Tuesday, weighed down by a higher yen against the dollar and falls on Wall Street, which came under pressure from weak US data and trade worries. The benchmark Nikkei 225 index ...
Tokyo main stock market closed at a 14-month high Monday, boosted by data suggesting China's economy was improving despite uncertainty over trade talks with Washington. The benchmark Nikkei 225 index added ...
A private survey on Monday showed China’s manufacturing activity expanded more than expected in November. Chinese state media said Sunday that Beijing wants a rollback of tariffs in the phase one trade deal that the two economic powerhouses are aiming to reach.
Global stock markets traded in fairly narrow ranges Monday as investors awaited developments on the U.S.-China trade talks front and a raft of economic data this week that culminates with monthly U.S. jobs figures. The FTSE 100 index of leading British shares was 0.1% lower at 7,339. Whether markets enjoy a so-called Santa Rally this year will depend largely on how the U.S.-China trade talks pan out over the coming weeks.