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☆ Japan's Nikkei opens up 2% as Asia markets mostly climb ahead of a week of central bank decisions
▼ + stars: | 2024-10-07 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets mostly climbed on Monday, led by Japan's Nikkei 225 gaining 2% as investors look ahead to a week of central bank decisions from around the region. Three central banks are set to release their interest rate decisions this week, namely the Bank of Korea, the Reserve Bank of New Zealand and the Reserve Bank of India. Economists polled by Reuters expect the BOK and RBNZ to cut rates, while the RBI will hold. The BOK on Friday is expected to lower its benchmark interest rate to 3.25% from 3.5%, while the RBNZ is expected to enact a 50-basis-point cut to 4.75% on Wednesday. Back in August, the RBNZ surprised economists after it lowered its policy rate to 5.25% from 5.5%.

Persons: BOK Organizations: Japan's Nikkei, Bank of, Reserve Bank of New, Reserve Bank of India, Reuters Locations: Seoul . Asia, Pacific, Bank of Korea, Reserve Bank of New Zealand

☆ Japan PM Shigeru Ishiba asks ministers to craft economic relief package to cushion inflation impact
▼ + stars: | 2024-10-04 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

TOKYO, JAPAN - OCTOBER 1: Japan's new Prime Minister Shigeru Ishiba attends a press conference at the prime minister's office on October 1, 2024 in Tokyo, Japan. Japanese Prime Minister Shigeru Ishiba said he has asked ministers to formulate an economic relief package to ease the bite of inflation. The support measures would include subsidies to low-income households and significantly larger grants to local governments, Ishiba said in the speech. On Monday, just three days after being elected as head of Japan's ruling party, the new prime minister set the date for the snap election. During his speech, gains in Japan's Nikkei 225 narrowed to 0.09% while the broad-based Topix was up 0.36%.

Persons: Shigeru Ishiba, Ishiba, Topix Organizations: Reuters, Local, Japan's Nikkei, U.S . Locations: TOKYO, JAPAN, Tokyo, Japan, Japanese, Japan's

☆ Japan's Nikkei 225 jumps 2.5% as yen weakens
▼ + stars: | 2024-10-03 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

Pedestrians cross a road in front of the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Thursday, Oct. 29, 2020. Japan stocks led Asian markets higher Thursday, after Wall Street inched higher amid rising tensions in the Middle East. Japan's Nikkei 225 opened 2.57% higher while the broad-based Topix added 2%. Australia's seasonally adjusted Judo Bank Composite PMI data came in at 49.6 in September, lower from the 51.7 in August, falling past the 50 neutral mark. Other data on tap include Japan's PMI data for September and August retail sales from Hong Kong.

Persons: Shigeru Ishiba, Ishiba, Kazuo Ueda Organizations: Tokyo Stock Exchange, Japan Exchange Group Inc, Nikkei, U.S, Bank of Japan, PMI, Australian Bureau, Statistics, Economists Locations: Tokyo, Japan, Asia, Hong Kong

☆ Asia-Pacific markets trade mixed as investors weigh China stimulus, oil gains
▼ + stars: | 2024-10-03 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: 1 min

The Tokyo Tower, left, and commercial and residential buildings in Minato district of Tokyo, Japan, on Saturday, Oct. 1, 2022. Photographer: Akio Kon/Bloomberg via Getty ImagesSINGAPORE — Asia-Pacific markets traded mixed on Friday following losses on Wall Street, with concerns over Middle East tensions keeping investors on edge in the run up to September's U.S. payrolls report. Hong Kong's Hang Seng index futures were at 22,091, lower than the HSI's last close of 22,113.51. Markets in mainland China will reopen on Oct. 8. Chinese stocks had been on a tear after authorities announced a slew of support measures last week.

Persons: Akio Kon, Australia's Organizations: Bloomberg, Getty Images, Nikkei Locations: Tokyo, Minato district, Japan, Getty Images SINGAPORE, Asia, Pacific, China

☆ Asia-Pacific markets fall as investors monitor Middle East tensions; Japan's Nikkei down 1.5%
▼ + stars: | 2024-10-01 | by ( Dylan Butts | ) www.cnbc.com time to read: 1 min

A MLB store in the Myeongdong shopping district in Seoul, South Korea, on Saturday, March 9, 2024. SINGAPORE — Asia-Pacific markets opened lower Wednesday morning, following a poor start to the trading month on Wall Street that saw major indexes fall amid rising Middle East tensions. Australia's S&P/ASX 200 opened down 0.2%, while Japan's Nikkei 225 started the trading day lower by 1.5%. Hong Kong's Hang Seng index futures were at 20,768, lower than the HSI's last close of 21,133.68. Markets in Mainland China were closed Wednesday and will remain closed for the rest of the week due to the Golden Week holiday.

Persons: Australia's, Korea's Kospi Organizations: MLB, Nikkei Locations: Seoul, South Korea, SINGAPORE — Asia, Pacific, China

☆ Here’s why Japan’s stocks are plunging after Shigeru Ishiba’s win
▼ + stars: | 2024-09-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Japan's August retail sales climbed 2.8% year on year, beating Reuters poll estimates of a 2.3% rise, and up from a revised 2.7% rise in July. Ishida had beaten Economic Security Minister Sanae Takaichi in the final round of the Liberal Democratic Party election on Friday, sending the yen into a volatile session. A higher interest rate typically strengthens the yen and puts pressure on Japanese stock markets, which are heavily weighted by exporters. Chinese rally puts pressureThe Nikkei's decline on Monday also comes at a time when China's markets have been surging. Stock Chart Icon Stock chart icon

Persons: Shigeru Ishiba, Ishida, Sanae Takaichi, Ryota Abe, Takaichi, Ishiba, Abe, Steven Glass, CNBC's Organizations: Economic, Liberal Democratic Party, Bank of Japan, Sumitomo Mitsui Banking Corporation, CNBC, Bank of, Pella Funds Management, CSI Locations: Tokyo, Japan, Pella, Hong

☆ Japan's Nikkei falls over 4%, Australia stocks hit fresh all-time high as investors await China data
▼ + stars: | 2024-09-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

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

☆ Europe set to start the last trading session of September in negative territory
▼ + stars: | 2024-09-30 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

LONDON — European stocks are expected to start the week and the final trading session of September on Monday in negative territory. The U.K.'s FTSE index is seen opening 16 points lower at 8,305, Germany's DAX 43 points lower at 19,434, France's CAC 40 down 7 points at 7,791 and Italy's FTSE MIB 1 point lower at 34,626, according to data from IG. The lackluster start for European markets comes after the pan-European Stoxx 600 index closed at a fresh record high on Friday, as stocks got a boost from China's announcement last week of a range of stimulus measures that aim to boost the economy. Overnight in the Asia-Pacific region, stocks in mainland China spiked over 6% while Japan's Nikkei 225 tumbled 4.64%, as investors assessed key economic data from the two countries.

Persons: Germany's DAX Organizations: CAC, IG, Nikkei Locations: Asia, Pacific, China

☆ European stocks set for positive open, spurred on by gains in Asia-Pacific markets
▼ + stars: | 2024-09-26 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

City of London skyline on 10th June 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. LONDON — European stocks are expected to open in positive territory Thursday, spurred on by gains in Asia-Pacific markets overnight. The positive start to the trading day anticipated in Europe comes after Asia-Pacific markets rose overnight, with markets in the region led by Japan's Nikkei 225 and Chinese markets extending gains. Japan's Nikkei climbed 2.12%, while the broad based Topix was up 1.65%, as the Bank of Japan released minutes of its July meeting.

Persons: Germany's DAX Organizations: LONDON, CAC, IG, Japan's Nikkei, Bank of Japan, China's CSI Locations: London, United Kingdom, The City, Asia, Pacific, Europe

☆ Japan's Nikkei leads gains in Asia Pacific after Wall Street soars on Fed's jumbo rate cut
▼ + stars: | 2024-09-20 | by ( Anniek Bao | In | ) www.cnbc.com time to read: 1 min

A Japanese flag is displayed as shoppers and pedestrians walk past stores at a shopping street in Tokyo, Japan, on Wednesday, Nov. 23, 2016. Asia-Pacific markets opened higher on Friday with Japan's Nikkei 225 leading gains, after Wall Street soared overnight following the Federal Reserve's outsized rate cut. Japan's core consumer prices index climbed 2.8% year on year, in line with Reuters estimates, versus a 2.7% rise in the previous month. The reading will be the last gauge of the economy before the BOJ concludes its two-day monetary policy meeting, where it's expected to keep interest rates unchanged at 0.25%. The Japanese yen was nearly flat at 142.67.

Persons: PBOC Organizations: Japan's Nikkei Locations: Tokyo, Japan, Asia, Pacific

☆ Japan's Nikkei leads Asia-Pacific markets higher as investors digest outsized Fed rate cut
▼ + stars: | 2024-09-19 | by ( Anniek Bao | In | ) www.cnbc.com time to read: 1 min

The Hong Kong Monetary Authority is displayed outside Two International Finance Centre in Hong Kong on June 19, 2013. Japan's Nikkei 225 led Asia-Pacific markets higher Thursday, as traders assessed the Federal Reserve's decision to cut interest rates by a half-percentage point. The Fed lowered its benchmark borrowing rate by a half percentage point, bringing its target range to 4.75% to 5%. In lockstep with the Fed, the Hong Kong Monetary Authority cut its interest rate by 50 basis points to 5.25, as the city's currency is pegged to the greenback. Hong Kong markets will return to trade after being closed for a public holiday on Wednesday.

Persons: Hong Organizations: Hong, Hong Kong Monetary Authority, International Finance, Japan's Nikkei, Nikkei, U.S ., Fed Locations: Hong Kong, Asia, Pacific

☆ A Navy SEAL unit that killed Osama bin Laden may be training Taiwanese forces to defeat a possible Chinese invasion, experts say
▼ + stars: | 2024-09-18 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +9 min

Read previewAn elite Navy SEAL unit may be preparing Taiwanese forces for reconnaissance operations and missions to repel a Chinese invasion, retired Navy officers said after a report said the unit had been training for such an eventuality for over a year. AdvertisementAccording to three retired Navy officers, the unit may be training Taiwanese soldiers to fight back against China should it invade Taiwan. One, he told BI, "is training Taiwanese forces in reconnaissance and perhaps direct attack, focusing on missions that might be required to defeat a Chinese invasion." "Naval reconnaissance forces would locate Chinese forces for long-range attacks," he said, adding: "They might also launch attacks against offshore ships or shipping in Chinese ports." Reports have already given clues as to how the US is preparing for a possible Chinese invasion of Taiwan.

Persons: —, Osama bin Laden, Mark Cancian, Bradley Martin, Sam Tangredi, Graeme Thompson, Joe Biden, Samuel Paparo, Martin, Cancian, Daniel Ceng, Phil Davidson, Davidson, Feng Hao, Paparo, Frank Kendall, Kendall Organizations: Service, Navy SEAL, Financial Times, Business, Navy, Marine, Center for Strategic, International Studies, US Navy, Getty, Eurasia Group, Wall Street Journal, Reuters, International Institute for Strategic Studies, Pacific Command, Washington Post, Congressional Research Service, Senate Armed Services Committee, Theater Command, PLA, China Military, Anadolu, American Enterprise Institute, Institute for, Japan's Nikkei, RAND Corp, US Air Force, Air & Space Forces Association Locations: Virginia, Taiwan, Afghanistan, Yemen, Syria, Somalia, Pakistan, China, People's Republic of China, Pingtung County, AFP, Washington ,, Australia, United States, Taichung, Anadolu, Pacific

☆ CNBC Daily Open: Rate cuts might not benefit tech the most
▼ + stars: | 2024-09-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Record close for DowThe S&P 500 and Dow Jones Industrial Average rose on Monday, with the Dow notching a record close. Next move for the BOJThe Bank of Japan won't be raising interest rates at its September meeting, according to a CNBC survey of 32 analysts. [PRO] "Golden age of fixed income"The U.S. Federal Reserve is poised to cut interest rates this week.

Persons: Shaktikanta Das, Biden, Rick Rieder Organizations: Trade Center, CNBC, Dow, Dow Jones, Nasdaq, Nikkei, U.S ., Midea Group, Hong Kong, Bank of Japan, Bank of India, Intel, U.S . Federal Locations: Manhattan, Jersey City , New Jersey, Asia, Pacific, Hong

☆ Asia-Pacific markets mostly fall, but China set to rebound from near six-year low
▼ + stars: | 2024-09-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The sails of the Opera House are illuminated with projections on the opening night of Vivid Sydney 2023 in Sydney, Australia, on Friday, May 26, 2023. Anadolu Agency | Anadolu Agency | Getty ImagesAsia-Pacific markets mostly fell on Friday, putting a halt to gains from Thursday even as Wall Street's tech rally continued. This was above July's revised figure of 3.6% and also beat expectations of 3.5% from economists polled by Reuters. Hong Kong Hang Seng index futures were at 17,294, higher than the HSI's last close of 17,240. Futures for mainland China's CSI 300 stood at 3,176, just slightly higher than the index's last close, a near six-year low of 3,172.47 on Thursday.

Persons: Australia's Organizations: Opera, Vivid, Anadolu Agency, Getty, Reuters, Nikkei, Futures, China's CSI Locations: Sydney, Australia, Asia, Pacific, India, Hong Kong

☆ CNBC Daily Open: With all key data in, the Fed's policy path looks more uncertain
▼ + stars: | 2024-09-13 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hotter-than-expected core, againThe U.S. producer price index, which measures the prices producers receive before retailers sell goods and services to consumers, rose 0.2% in August, according to the Bureau of Labor Statistics. However, like the consumer price index, core PPI came in 10 basis points higher than expected. But investors are ignoring two big risks to the market, said a chief investment officer of a wealth management firm.

Persons: Hong, Dow Jones, Sheila Kahyaoglu, Safra Catz, Bond Organizations: CNBC, Nasdaq, Dow Jones Industrial, Nikkei, U.S ., Bureau of Labor Statistics, PPI, Boeing, Jefferies, Oracle, Amazon, Google, Microsoft Locations: Asia, Pacific, U.S, Seattle, Oregon

☆ A Navy SEAL unit that killed Osama bin Laden is busy preparing for a possible Chinese invasion of Taiwan: report
▼ + stars: | 2024-09-12 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Read previewA Navy SEAL unit that killed Osama bin Laden is busy preparing for a possible Chinese invasion of Taiwan, the Financial Times reported, citing people familiar with the preparations. SEAL Team 6, an elite military special missions unit, has spent more than a year planning and training for a potential Chinese invasion of the island at its Dam Neck base in Virginia Beach, per the FT. People familiar with its planning did not provide details to the FT about what specific missions it is preparing for. These include the rapid modernization of its armed forces over the past two decades, and drills around Taiwan. According to a June report from the American think tank RAND Corp, the US — if it decided to defend Taiwan from a Chinese invasion — may have to do it alone as several of its biggest allies are unlikely to commit troops.

Persons: —, Osama bin Laden, Osama bin, Phil Davidson, Adm, Samuel Paparo Organizations: Service, Navy SEAL, Financial Times, Business, Operations Command, Pentagon, Department of Defense, American Enterprise Institute, Institute for, Pacific, Japan's Nikkei, RAND Corp Locations: Taiwan, Virginia Beach, Afghanistan, Yemen, Syria, Somalia, Pakistan, China

☆ Nikkei jumps 3%, leading Asia-Pacific markets higher
▼ + stars: | 2024-09-12 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

A General view showing the Central Business District in Central on May 18, 2023 in Hong Kong, China. Asia-Pacific markets opened higher on Thursday, tracking gains on Wall Street after a volatile session spurred by inflation data. Japan's producer price index rose 2.5% year-on-year in August, less than the expected 2.8% and the 3% reported in the previous month. Investors will also look toward the release of Hong Kong's producer price index for the second quarter this afternoon. The listing is set to be the largest offering in Hong Kong since May 2021.

Persons: Jensen Huang, Goldman Sachs, Hong Organizations: Central Business District, Nikkei, Nvidia, Technology Conference, SK Hynix, Samsung Electronics, SoftBank, Bank of Japan, Reuters, Midea Locations: Central, Hong Kong, China, Asia, Pacific, San Francisco, Tokyo, India

☆ CNBC Daily Open: Lower rates might hurt banks
▼ + stars: | 2024-09-11 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Tough environment for European companiesChina's environment for businesses is so thorny that European companies have grown discouraged with operating in the country, according to the EU Chamber of Commerce. If European companies were to invest in China further, Beijing must act on its pledges to improve the business conditions, the chamber's paper wrote. CNBC Pro looked for companies headquartered overseas, but listed in the U.S. – and may experience over 100% upside, according to analysts.

Persons: Morgan, Dow, First Harris, Kamala Harris, Donald Trump, Taylor Swift, Harris, Cat Lady Organizations: Canary, CNBC, Nasdaq, Japan's Nikkei, U.S ., Trump, EU Chamber of Commerce, Federal Reserve Locations: Wharf, London, United Kingdom, Asia, Pacific, fracking, China, Instagram, Beijing, U.S

☆ Japan to benefit from a stronger yen and unwinding of carry trade, Monex Group's Koll says
▼ + stars: | 2024-08-13 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

In this article 8301.T-JP Follow your favorite stocks CREATE FREE ACCOUNTwatch nowCorrections in the yen and the unwinding of the carry trade are positive developments for Japan, said Jesper Koll, a veteran investor who remains bullish on the Japanese market. The yen carry trade began unwinding last week, as interest rate hikes by the Bank of Japan strengthened the yen, and led to a sharp sell-off in markets globally. Stock Chart Icon Stock chart icon U.S. dollar/Japanese yen"It is correct to put a price on money. According to Koll, it's possible that as much as 75% of the yen carry trade could have been unwound, though the total size of the carry trade has not been reliably ascertained. Stock Chart Icon Stock chart icon Nikkei 225

Persons: Jesper Koll, …, CNBC's, unwinding, it's, Koll, Claude Trichet Organizations: Monex, Bank of Japan, Nikkei, European Central Bank Jean, CNBC, U.S ., Bank of Locations: Japan, U.S

Stock futures pointed to a mild market bounceback following a significant sell-off Monday that left major indexes with their worst day in nearly two years. ET Tuesday, Dow Jones Industrial Average futures, S&P 500 futures, and and Nasdaq futures were each up about 0.4%. The recovery comes as Japan's Nikkei stock index, which saw its worst day in a generation Monday, rallied for its best day since 2008, surging 10.2%Still, Tuesday's gains are unlikely to make up for the losses stocks suffered Monday. Torsten Slok, chief economist at Apollo Global Management, said in a note Tuesday that the economy remains in decent shape. "If the economy were crashing, default rates would be spiking higher, and that is not what the data shows.” he wrote.

Persons: Dow, Goldman Sachs, Torsten Slok, ” Organizations: Dow Jones Industrial, Nasdaq, Nikkei, Federal, Citibank, Federal Reserve, Citi, Fed, Apollo Global Management Locations: U.S

☆ Biggest concern is the market sell-off becoming a 'self-fulfilling prophecy,' research firm warns
▼ + stars: | 2024-08-06 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

"Our biggest concern is that the market sell-off becomes a self-fulfilling prophecy causing corporate CEOs to cut back on investments and consumers to pull back on spending leading to further cuts and a recession," the analysts added. "In our view, the direct impact of these steep market declines is limited," they said in a note published Monday. Sustained market declines in the wake of the recent global sell-off could become a "self-fulfilling prophecy" that eventually leads to a recession, Morningstar DBRS analysts warned. The analysts also said that the impact of the market volatility on banks is likely to be limited, even if further market declines materialize, or if the U.S. enters a recession. There was also "no material impact" expected for capital management by banks in Japan, a region that also saw steep declines.

Persons: Morningstar, Nonfarm payrolls Organizations: New York Stock Exchange, Global, Japan's Nikkei, Tech, Federal Reserve, Morningstar, Congressional, U.S, Capital Locations: New York City, U.S, Japan

☆ What the Fed must do to soothe markets after a historic global sell-off, according to JPMorgan strategy chief David Kelly
▼ + stars: | 2024-08-06 | by ( Kelly Cloonan | Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Kelly says the Fed needs to broadcast its confidence in the economy to soothe jittery markets. JPMorgan's David Kelly told Business Insider he sees a possibility for even deeper losses following the big rout. We do stand ready to cut rates as appropriate but we don't think there's a very urgent situation here," Kelly said. More importantly, cutting rates abruptly would potentially instill more fear about the economy among investors, Kelly said. And I don't think the Federal Reserve tells people that, or maybe they don't appreciate it themselves," Kelly said, adding, "It's a drag before it's a stimulus."

Persons: Kelly, JPMorgan's David Kelly, —, David Kelly, Monday's, we've, Dow Jones Organizations: Fed, Service, JPMorgan Asset Management, Nasdaq, Nikkei, Reserve Locations: Japan

☆ Markets rebounding after Monday’s carnage, but will it last?
▼ + stars: | 2024-08-06 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Markets around the world are getting some relief after the steep declines suffered Monday. Japan's Nikkei 225 surged more than 10% overnight — its biggest one-day gain since 2008 — clawing back some of its losses from the previous session. In the U.S., stock futures pointed to slight gains at the open. It might be an easier call if it was October, but we frankly struggle to think of many markets that have put in their corrective lows in early-August," Verrone wrote. The Cboe Volatility Index (VIX) , Wall Street's preferred fear gauge, remained elevated around 32, though it was down 16% in morning trade.

Persons: Morgan Stanley, Trump, Thomas Salopek, Chris Verrone, Verrone, Wall Street's Organizations: Japan's Nikkei, Dow Jones Industrial, Taiwan Semiconductor Locations: U.S, Coinbase

The upscale shopping district of Ginza in Tokyo, Japan, on Saturday, May 4, 2024. Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. Other Asia-Pacific markets also opened higher. Japan's Nikkei 225 — which saw its largest loss in the previous session since the 1987 Black Monday crash — and the broad-based Topix gained over 10%. The rebound comes after South Korean markets were halted temporarily on Monday after circuit breakers activated.

Persons: Topix, Korea's Kospi, Australia's, Brent Organizations: Nikkei, U.S ., Softbank Group Corp, South, South Korean, Samsung Electronics, chipmaker SK Hynix, . West Texas Locations: Ginza, Tokyo, Japan, Asia, Pacific

☆ The market sell-off could be a 'growth scare,' Fundstrat's Tom Lee says
▼ + stars: | 2024-08-05 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The global sell-off in equities could end up being a mere "growth scare," according to Fundstrat managing partner and head of research Tom Lee. The index, known as Wall Street's "fear gauge," has more than doubled to above 50 since Friday, when it stood at roughly 23. For his part, Lee has been one of Wall Street's more bullish market commentators . But Lee opined that the sharp spike in Wall Street's fear gauge may suggest that a return to investor confidence could be over the horizon. "We have over three days where suddenly markets reversed, [and] declines like that are generally symmetric but you have to watch the VIX," Lee said.

Persons: Tom Lee, Lee, CNBC's, Russell Organizations: Nasdaq, Federal Reserve, Bank of, greenback Locations: U.S, Asia, Japan

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