Asian Stocks Mostly Rise, Japan’s Nikkei 225 Hits Record High
Most Asian stocks rose on Tuesday amid increasing expectations of lower U.S. interest rates. Japan’s Nikkei 225 index reached a record high, while Chinese markets lagged due to ongoing trade war concerns.
Positive Cues from Wall Street
Regional markets gained momentum from Wall Street, where strength in technology stocks pushed the S&P 500 and NASDAQ Composite to record highs. In Asian trading, U.S. stock index futures moved higher, with investors focused on Federal Reserve Chair Jerome Powell’s upcoming two-day testimony. Recent data indicating cooling inflation and a softer labor market in the U.S. have fueled hopes for dovish signals from Powell.
Interest Rate Expectations
U.S. consumer price index inflation data is also expected this week. Anticipation of Fed interest rate cuts has boosted Asian markets recently, with increasing bets on a rate cut in September.
Japan’s Nikkei Hits Record High
The Nikkei 225 was the standout performer in Asia, climbing over 1% to a record high of 41,421.50 points. The broader TOPIX index rose 0.4%, approaching last week’s record high. Technology stocks, particularly chipmakers, were the main drivers, benefiting from gains in U.S. peers and excitement over artificial intelligence. A weak yen, near a 38-year low, also supported export stocks. Foreign buying has played a significant role in the Nikkei’s rise, driven by yen weakness and expectations of a dovish Bank of Japan. Anticipated corporate reforms aimed at prioritizing shareholder returns have also made Japanese markets more attractive. However, concerns remain about the sustainability of these gains due to Japan’s weak consumption and persistent inflation.
Other Asian Markets
South Korea’s KOSPI added 0.4%, buoyed by tech gains, while Australia’s ASX 200 surged 0.7% after two days of losses. A private survey indicated worsening consumer sentiment in Australia due to inflation and high interest rates. Futures for India’s Nifty 50 index suggested a positive open, with the index and BSE Sensex 30 near recent record highs.
Chinese Markets Lag
In contrast, China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes fell 0.2% and 0.4%, respectively, with Hong Kong’s Hang Seng dropping 0.4%. Sentiment towards China was negatively affected by the European Union imposing steep tariffs on Chinese electric vehicle imports, raising fears of a potential trade war. Chinese stocks underperformed in June as optimism about an economic rebound waned amid lackluster economic data. This week, traders are focused on upcoming trade and inflation data from China for further insights.
Investing in 2024
As stock valuations soar in 2024, many investors are hesitant to commit more funds to the market. For those unsure where to invest next, accessing proven portfolios can uncover high-potential opportunities. In 2024, ProPicks’ AI identified several stocks with significant gains: two surged over 150%, four leaped over 30%, and three climbed over 25%. With tailored portfolios for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, investors can explore various wealth-building strategies.
.
#everyday_information #forex #option #Binary_Option #trading #trader #goldstocks #forextrader #fx_trade_time #fxttime #USDollar #euro #JPY #GBP #chfcurrency
#dubai #UAENews #ksasaudiarabia #Syrian #iraq #kuwait #jordan #morocco #Libya #tunisia #algerian #Egypt #qatar #lebanon
#كل_يوم_معلومه #فوركس #خيارات_ثنائيه #تداول_عملات #بورصه #ذهب #فوركس_تريد_تايم #اف_اكس_تريد_تايم #دولار #يورو
#دبي #امارات #السعوديه #سوريا #العراق #الكويت #الاردن #المغرب #ليبيا #تونس #الجزائر #مصر #قطر #لبنان
.
www.fxttime.com/trade