Australian S&P/ASX 200 Index Reaches Record High
The Asian-Pacific markets saw an increase on Wednesday as investors evaluated business activity data in China. The Japanese Nikkei 225 index reversed course and posted a growth after the country’s central bank raised its key interest rate to 0.25%, as reported by CNBC.
Economists, surveyed by Reuters, expected the financial institution to hold borrowing costs in the range…
Japanese Stock Market Update
In a surprising turn of events, Japan’s benchmark interest rate has risen above 0.1% for the first time since December 2008, defying predictions of a decrease. This unexpected change has caused fluctuations in the financial markets.
Stock Market Performance
The Nikkei 225 index saw a 1.49% increase, recovering from earlier losses to close at 39,101.82 points. The broader Topix index also rose by 1.45% to 2,794.26 points. These gains indicate a positive trend in Japan’s stock market.
Retail Sales and Manufacturing Activity
Retail sales in Japan have surged by 3.7% year-on-year in June, surpassing economists’ expectations of a 3.2% growth. This strong consumer spending has boosted economic confidence in the country.
Meanwhile, factory activity in China experienced a slight decline in July, signaling potential challenges for the region’s manufacturing sector. Despite this, analysts remain cautiously optimistic about the future outlook of the Chinese economy.
Global Market Update
The Purchasing Managers’ Index (PMI) in the industrial sector has risen to 49.4 points, a slight decrease from the reported 49.5 points in June.
Hang Seng Index and CSI 300
The Hang Seng Index in Hong Kong has increased by 2.26%. HSBC shares in Hong Kong rose by 3%, as the bank’s quarterly earnings exceeded expectations and they announced a $3 billion share buyback program.
The CSI 300 index in mainland China has also risen by 2%, closing at 3442.08 points, driven by gains in the real estate and healthcare sectors.
According to other data,…
Australian Inflation Accelerates to 3.8%
As of today, inflation in Australia has accelerated to 1% in the second quarter compared to the previous quarter, and on an annual basis – to 3.8%.
Related Articles
Inflation in June also reached 3.8%, in line with analysts’ expectations and lower than the 4% reported in May. These data may encourage the Australian Central Bank to lower interest rates in the near future.
The Australian S&P/ASX 200 index rose by 1.75% and reached a record high of 8092.3 points following the report.
Samsung Electronics Reports Massive Growth in Operating Profit
The South Korean Kospi index rose by 1.19% and closed at 2770.69, with shares of Samsung Electronics increasing by 3.58%. The company reported a huge 1458.2% year-on-year growth in operating profit for the second quarter. Meanwhile, the Kosdaq index, which measures small-cap companies, saw a slight decrease, ending the trading session at 803.15 points.
S&P 500 Pulled Down by Tech Stock Declines
In the United States on Tuesday, the broad market index S&P 500 was dragged down by the decline in technology company stocks as investors prepared for quarterly earnings reports.
Market Update: Tech Stocks Fall as Investors Await Federal Reserve Meeting
Stocks in the technology sector took a hit today as investors turned their attention to Washington, where the Federal Reserve began its two-day monetary policy meeting.
Shares of Nvidia fell by 7%, while Microsoft saw a decline of around 0.9%. Tech giants Amazon, Netflix, and Meta Platforms also experienced losses.
The broad market index dropped by 0.5%, while the tech-heavy Nasdaq Composite plummeted by 1.28%. In contrast, the Dow Jones blue-chip index rose by 0.5%.
Stay up to date with the latest news by following Investor.bg and Google News Showcase for real-time updates on market movements.
