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A cycler passes the entrance to the Tokyo Stock Exchange (TSE) headquarters building in the Nihonbashi area of Tokyo on May 2, 2024. Richard A. Brooks | Afp | Getty ImagesJapan's Nikkei 225 tumbled over 4% Monday, while Australia stocks hit a fresh high ahead of key economic data from China. Stock Chart Icon Stock chart iconSeparately, China will release its official purchasing managers' index numbers for September, with economists polled by Reuters expecting the manufacturing PMI to come in at 49.5, a softer contraction compared to August's 49.1. The Caixin PMI survey, which is a private survey compiled by S&P Global, will also be released Monday. Australia's S&P/ASX 200 climbed 0.62%, breaching its all-time high of 8,246.2.
Persons: Richard A, Brooks, Topix, Australia's, Korea's Kospi Organizations: Tokyo Stock Exchange, Afp, Getty, Reuters, PMI, P Global Locations: Nihonbashi, Tokyo, Australia, China, Japan
This week, the Nikkei and the broad-based Topix surpassed previous records to hit fresh all-time closing highs on Thursday. Earnings are the single driver to the current market rally, Jesper Koll, expert director at Tokyo-based financial services company Monex Group, told CNBC. watch nowJapan's largest union, commonly referred to as Rengo, announced that Japanese companies have delivered the largest wage hikes in 33 this year. Koll told CNBC this week: "I stand by my forecast — the Nikkei 225 is poised to climb to 55,000 before the end of next year." A note by Nomura, published Thursday, said the gains on the Nikkei and Topix do not look appear sustainable.
Persons: Richard A, Brooks, Jesper Koll, Koll, , Rengo, Nomura Organizations: Tokyo Stock Exchange, Afp, Getty, Nikkei, Monex, CNBC, Japan's Locations: Nihonbashi, Tokyo, Japan
Courtesy CoteArgentinian maestro Mauro Colagreco was the first ever non-French chef to earn three Michelin stars in France, at Mirazur on the famed French Riviera. Gastronomic restaurant Plénitude by chef Arnaud Donckele marked an extraordinary debut by being awarded the pinnacle of three Michelin stars just six months after opening. Since 2021, they have held three Michelin stars for their cuisine, which celebrates peerless produce from their sustainable farm just seven miles away. Lung King Heen, Four Seasons Hong KongLung King Heen was the first Chinese restaurant to hold three Michelin stars. Capella Hotels & ResortsFinally to Vietnam, where Michelin published its first ever guide in June 2023.
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