- Djokovic hails Nadal 'legacy' as Alcaraz in 'shock' over retirement
- Obama hits campaign trail for Harris
- Delta eyes Election Day travel pullback as profits climb
- Djokovic tells Nadal: 'Your legacy will live forever'
- Ethel Kennedy, wife of RFK, dead at 96
- Zelensky denies ceasefire with Russia under discussion on trip
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- After long fight for glory, Nadal leaves with a legacy of memories
- Home hopes Zheng and Wang through to last-eight in Wuhan Open
- UN peacekeepers say Israel fired on Lebanon HQ, injuring 2
- UK's William and Kate in first joint public engagement since cancer treatment
- Alcaraz out as top players pay tribute to Nadal at Shanghai Masters
- Racing's Farrell 'not thinking' about British and Irish Lions
- Alcaraz, Sinner pay tribute to 'unbelievable' Nadal at Shanghai Masters
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- After K-pop, K-novels? South Korean Nobel win sparks joy, hope at home
- After Nadal exit, Djokovic left to rage against dying of the light
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
- Triple centurion Brook happy to break Dad's club record
- Zelensky touts 'victory plan' against Russia in Macron talks
- Musk finally unveiling his long-promised robotaxi
- UN peacekeepers accuses Israel of firing on Lebanon HQ
- London's Frieze art fair goes potty for ceramics
- Southgate taking year out from coaching
- US, Europe stocks fall on US inflation data
- Zelensky meets Macron in Paris as part of European tour
- Hurricane Milton shreds Florida stadium roof
- UN probe accuses Israel of seeking to 'destroy' Gaza healthcare
- US consumer inflation eases to 2.4% in September
- England in sight of victory after Brook's triple hundred
- Juventus readmitted to ECA after failed Super League revolt
- World number 2 Alcaraz knocked out of Shanghai Masters by Machac
- Leaders of Egypt, Eritrea, Somalia meet amid regional tensions
- Klopp's Red Bull decision 'ruined life's work' say Dortmund fans
- Han Kang wins South Korea's first literature Nobel
- S. Korea's Nobel winner Han Kang a modest, thought-provoking writer
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- The almost impossible job: Beating Rafael Nadal at the French Open
- New French government faces key test with budget plan
- Rescuers say Israeli strike on Gaza school kills 28
- Italy's ex-world champion gymnast Ferrari announces retirement
- Zelensky talks 'victory plan' in meeting with Starmer, Rutte
- South Korea's Han Kang wins literature Nobel
- Federer lauds retiring Nadal's 'incredible achievements'
- Ikea posts fall in annual sales after lowering prices
- Australia beat China 3-1 to resurrect World Cup campaign
- Stock markets diverge, oil gains after China rebounds
- Nadal defied injury woes in record-breaking career
- Nadal v Djokovic, French Open, 2006: Chapter One in epic rivalry
- World can't 'waste time' trading climate change blame: COP29 hosts
RBGPF | 4.03% | 63.35 | $ | |
CMSC | 0.16% | 24.56 | $ | |
SCS | -3.41% | 12.6 | $ | |
BCE | -1.69% | 32.755 | $ | |
JRI | -0.05% | 13.214 | $ | |
BCC | -1.9% | 139.73 | $ | |
NGG | 0.19% | 65.754 | $ | |
RIO | 0.03% | 66.37 | $ | |
CMSD | 0.24% | 24.74 | $ | |
RELX | -0.68% | 46.395 | $ | |
RYCEF | 0% | 6.9 | $ | |
AZN | -1.02% | 76.72 | $ | |
BTI | -0.71% | 35.23 | $ | |
GSK | -2.54% | 39.245 | $ | |
BP | 0.94% | 32.285 | $ | |
VOD | -0.41% | 9.69 | $ |
Asian markets mixed after Wall Street records
Asian markets diverged Wednesday after fresh records on Wall Street and remarks by the Fed chief that hinted the US central bank would cut interest rates later this year, without offering a clear timeframe.
While Europe's main stock markets were dragged down Tuesday by political uncertainty in France, the S&P 500 and Nasdaq in the United States edged to all-time highs.
The records came after Federal Reserve Chair Jerome Powell pointed to "modest" progress in the battle to bring down inflation.
Although his Senate testimony did not indicate when cuts may come, analysts are predicting the first in September and a second before year's end.
"Fed Chair Powell's testimony overnight was pervaded with a somewhat dovish tone, mentioning that the Fed was confronted with 'two-sided risks'," Alvin Tan of RBC Capital Markets said in a note.
"He suggested that the Fed's reaction function is shifting to an easing bias given the 'significantly' cooling labour market, but he nonetheless declined to offer a clear timeline on rate cuts."
"In any event, the market has been pricing in almost two full Fed rate cuts this year, and Powell's statements didn't shift those expectations much," Tan added.
Powell is set to testify before a House committee on Wednesday, and investors will also be eyeing US consumer inflation data due Thursday for further insight that price rises are still easing as hoped.
"Thursday's CPI data could be crucial in determining whether the probability of a September rate cut increases further from the current 70 percent," said SPI Asset Management's Stephen Innes.
In Asia on Wednesday, Hong Kong stocks rose above one percent in morning trade, with Alibaba Group contributing the most to the index gains, according to Bloomberg.
China consumer prices edged up 0.2 percent on-year in June, official data showed Wednesday, but fell short of analyst expectations and were down from May's 0.3 percent increase.
While the world's second-largest economy emerged from a period of deflation in February, prices have grown at a modest rate, in contrast to other major economies which have seen prices soar.
Zhiwei Zhang of Pinpoint Asset Management said with weak domestic demand and fiscal spending, and a high real interest rate, the risk of deflation in China has not disappeared.
"China relies on exports to be a key driver for growth in the first half of this year. In the long term China will need a rebound of domestic demand to drive the economy," he said.
If the Fed does cut rates in September, he added, China's central bank could follow suit.
Tokyo stocks rose, as did Wellington, Singapore, Jakarta and Kuala Lumpur.
Shanghai and Taipei were mostly unchanged, while Sydney, Seoul and Manila were down.
- Key figures around 0250 GMT -
Tokyo - Nikkei 225: UP 0.13 percent at 41,635.53
Hong Kong - Hang Seng Index: UP 0.95 percent at 17,690.50
Shanghai - Composite: DOWN 0.06 percent at 2,957.51
Euro/dollar: DOWN at $1.0816 from $1.0819 at 2040 GMT on Tuesday
Euro/pound: UP at 84.58 pence from 84.56 pence
Pound/dollar: DOWN at $1.2789 from $1.2790
Dollar/yen: UP at 161.52 yen from 161.29 yen
Brent North Sea Crude: DOWN 0.1 percent at $84.59 per barrel
West Texas Intermediate: FLAT at $81.41 per barrel
New York - Dow: DOWN 0.1 percent at 39,291.97 (close)
London - FTSE 100: DOWN 0.7 percent at 8,139.81 (close)
L.Mason--AMWN