Stock Market News

Asian markets show mixed results amid global rate cut expectations

2023.11.19 22:46


© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect

TOKYO – Asian stock markets presented a varied picture today, as investors digested the latest global economic signals and central bank policy expectations. The index in China dipped slightly by 0.2% after the People’s Bank of China (PBOC) opted to keep rates unchanged, indicating a cautious stance towards monetary easing. Conversely, optimism was apparent in Hong Kong where the climbed 0.7%, thanks in part to a rebound in shares of Alibaba (NYSE:) Group Holdings, which rose over 1%.

The Japanese market saw a modest retreat with the index falling 0.2% after reaching a session peak earlier. Meanwhile, Australia’s edged higher by 0.2%, and New Zealand’s NZX-50 also experienced a slight uptick of 0.1%. South Korea’s Kospi was among the decliners, dropping 0.5%.

This mixed performance comes on the heels of Wall Street’s positive close on Sunday, marking its third consecutive winning week. The notched up by 0.1%, hovering near a three-month high, while both the Dow Jones and made fractional gains. European stocks also rallied late last week, with significant indices such as and posting gains amid growing anticipation of rate cuts from global central banks next year.

In commodities, gold prices saw a modest increase as the dollar continued to weaken after recording its worst four-month performance, oil prices built on their previous gains of more than 4%, and the remained near a two-month low.

Investor sentiment has been buoyed by expectations that the U.S. Federal Reserve may decrease interest rates by late 2024, which could lead to looser monetary conditions globally. This outlook has led to cautious optimism in some markets, while others remain watchful of central bank cues for more definitive direction.

In other news reflecting market optimism, Australian market futures indicated a positive opening today with an expected rise of about half a percent. However, individual stock performances varied significantly in the retail sector during the past week. Gap Inc (NYSE:).’s shares soared over thirty percent following an earnings report that exceeded expectations, and Ross Stores (NASDAQ:)’ shares grew by seven percent on robust financial results. In contrast, BJ’s Wholesale Club witnessed a nearly five percent drop in stock value despite positive earnings due to sales figures that fell short of analyst forecasts.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 85,270.85 1.19%
ethereum
Ethereum (ETH) $ 2,216.52 0.39%
tether
Tether (USDT) $ 0.999724 0.02%
xrp
XRP (XRP) $ 2.16 1.16%
bnb
BNB (BNB) $ 604.95 2.74%
solana
Solana (SOL) $ 140.61 3.97%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.203567 1.34%
cardano
Cardano (ADA) $ 0.638762 1.18%
staked-ether
Lido Staked Ether (STETH) $ 2,215.51 0.37%
tron
TRON (TRX) $ 0.230777 0.47%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 85,122.81 1.14%
hedera-hashgraph
Hedera (HBAR) $ 0.240834 13.88%
chainlink
Chainlink (LINK) $ 14.79 0.73%
litecoin
Litecoin (LTC) $ 124.75 0.28%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,641.07 0.67%
stellar
Stellar (XLM) $ 0.301818 5.92%
leo-token
LEO Token (LEO) $ 9.77 5.93%
sui
Sui (SUI) $ 2.82 0.30%
avalanche-2
Avalanche (AVAX) $ 21.57 2.37%
the-open-network
Toncoin (TON) $ 3.28 1.97%
shiba-inu
Shiba Inu (SHIB) $ 0.000014 2.02%
usds
USDS (USDS) $ 0.999898 0.04%
mantra-dao
MANTRA (OM) $ 7.47 0.33%
polkadot
Polkadot (DOT) $ 4.62 1.97%
hyperliquid
Hyperliquid (HYPE) $ 19.21 1.43%
weth
WETH (WETH) $ 2,219.19 0.28%
bitcoin-cash
Bitcoin Cash (BCH) $ 309.85 0.79%
ethena-usde
Ethena USDe (USDE) $ 0.998916 0.01%
bitget-token
Bitget Token (BGB) $ 4.04 0.83%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,348.92 0.71%
uniswap
Uniswap (UNI) $ 7.48 0.53%
monero
Monero (XMR) $ 222.91 6.18%
near
NEAR Protocol (NEAR) $ 3.26 6.43%
whitebit
WhiteBIT Coin (WBT) $ 26.43 0.10%
aptos
Aptos (APT) $ 6.39 0.18%
dai
Dai (DAI) $ 1.00 0.03%
ondo-finance
Ondo (ONDO) $ 1.01 2.00%
pepe
Pepe (PEPE) $ 0.000008 4.37%
internet-computer
Internet Computer (ICP) $ 6.47 0.81%
susds
sUSDS (SUSDS) $ 1.04 0.06%
aave
Aave (AAVE) $ 193.16 2.15%
ethereum-classic
Ethereum Classic (ETC) $ 19.02 2.21%
bittensor
Bittensor (TAO) $ 329.78 0.07%
okb
OKB (OKB) $ 45.19 0.34%
gatechain-token
Gate (GT) $ 20.91 0.18%
official-trump
Official Trump (TRUMP) $ 12.99 2.20%
mantle
Mantle (MNT) $ 0.747597 3.08%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 85,335.86 1.18%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.275299 1.63%