Asian shares traded mixed Wednesday, as Japan’s benchmark perked but quickly ran out of steam from news the prime minister won’t seek re-election as head of the ruling party. Japan’s benchmark Nikkei 225 was down 0.1% in morning trading at 36,192.93. Japan’s ruling Liberal Democratic Party controls the majority in the lower house of parliament, which picks the nation’s leader.
Stocks surged as investors were encouraged by cooler producer inflation. The Dow rose 400 points and the Nasdaq surged 2.4% ahead of CPI data.
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Stocks that are taken off benchmark indexes often outperform the market by 5% a year, Rob Arnott reported in a note.
(Bloomberg) -- Cathay Pacific Airways Ltd. is now the world’s most-shorted major airline stock, as the industry struggles to improve profits even amid a rebound in global tourism.Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestJohannesburg Mayor Quits Amid Infighting, Financial WoesHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceGottheimer Calls for Rail Riders to Be Reimbu
(Bloomberg) -- Stocks in Asia gained on bets that the upcoming US consumer price report will allow the Federal Reserve to start easing in September. The New Zealand dollar slumped following a surprise rate cut by the country’s central bank.Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceJohannesburg Mayor Quits Amid Infighting
(Bloomberg) -- Japanese stocks fluctuated as hopes for lower US interest rates were balanced with concerns over political uncertainty over Prime Minister Fumio Kishida’s decision not to run for a second term. Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceJohannesburg Mayor Quits Amid Infighting, Financial WoesGottheimer Call
Stifel's chief equity strategist said there's potential for a bear market if the economy keeps slowing and inflation remains sticky.
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South Korea's mom-and-pop investors are defying last week's global financial markets rout by pouring even more funds into U.S. stocks, a years-long trend that analysts and investors bet will continue due to the depressed value proposition at home. South Korean retailers have been scooping up Nvidia, Tesla Inc. and Apple shares this year fuelled in part by the worldwide AI-frenzy, a move that comes despite government efforts to boost the domestic stock market. Sunny Noh, a 49-year-old who has been investing in Tesla since 2020 and now holds about 85% of his financial assets in the electric-vehicle maker, said he sees the recent market plunge as a long-term buying opportunity.