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☆ CNBC Daily Open: More all-time highs? Yes please
▼ + stars: | 2024-09-27 | 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. Why are Treasury yields rising? Treasury yields tend to move in tandem with interest rates. When the U.S. Federal Reserve cut interest rates last week, it's not unreasonable to expect Treasury yields to dip.

Persons: Hong, it's, they've, Jeff Cox, Sam Altman, Bret Taylor, Sarah Friar, OpenAI's, Ishiba, Shigeru Ishiba, Sanae Takaichi Organizations: CNBC, Major, CSI, Treasury, U.S . Federal Reserve, Altman, PM, Liberal Democratic, Bank of, People's Bank of China, Barclays Locations: Major U.S, Asia, Pacific

☆ French tycoon gains $17 billion from China’s economic stimulus push
▼ + stars: | 2024-09-27 | by ( Juliana Liu | ) edition.cnn.com time to read: +4 min

But by the end of the day, his net worth jumped by $17 billion to $201 billion, the index reported, calling it his third-biggest daily increase ever. That market, which accounted for 31% of total revenue last year, is dominated by China. Hong Kong’s benchmark Hang Seng index has added just over 12% so far this week, while mainland China’s blue-chip CSI300 has gained more than 15%. However, experts urged investors to be cautious as officials must still come up with ways of stabilizing the property market, which once accounted for as much as 30% of economic activity. It began to cool in 2019 and fell into a deep trough about two years later, after a government-led clampdown on developers’ borrowing.

Persons: Bernard Arnault isn’t, Arnault, LVMH, “, Nomura, Xi Jinping, Pan Gongsheng, Pan Organizations: Hong Kong CNN, LVMH, Bloomberg, Markets, People’s Bank of China Locations: China, Hong Kong, LVMH, Paris, Asia, “ Beijing

☆ China's stock markets are partying like it's 2008, overwhelming systems
▼ + stars: | 2024-09-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

China's stock markets surged this week, marking the best weekly performance since late 2008. AdvertisementChina's stock markets closed sharply higher Friday, notching their best week in 16 years as investors joined the rally party. The stock market party overwhelmed tech systemsThe stock market party got too hot to handle. AdvertisementFurthermore, the US Federal Reserve has started cutting interest rates, which has historically benefited Chinese markets, they added. So even if Beijing's stimulus isn't enough for China's economy, a liquidity or leverage-driven market rally could still be "very powerful," they wrote.

Persons: —, Vishnu Varathan, Hong, Hao Hong, Pan Gongsheng, Data.TS, Freya Beamish, Rory Green Organizations: Service, Grow Investment, Shanghai Stock Exchange, of America, Bank of America, US Federal Reserve, People's Bank of China Locations: China, Beijing, Asia, Japan, Shanghai, India

☆ These China stocks are favored by analysts no matter how the central bank stimulus pans out
▼ + stars: | 2024-09-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Stocks in China rose in response, with the CSI 300 Index climbing 4.3% Tuesday, its best day since July 2020. But whether or not the latest policy steps succeed, CNBC Pro screened for China stocks that analysts praise regardless of the pace of economic growth at home. About three quarters of analysts covering PDD rate it a buy, and the stock could climb roughly 43% based on analysts' consensus price target. On Tuesday, after the announcement of the latest policies to revive the flagging China economy, PDD shares in the U.S. jumped more than 11%. Other names on the list of favored China stocks included online learning and tutoring provider TAL Education Group and digital shipping platform Full Truck Alliance .

Persons: Hong, Morgan Stanley, Terence Flynn, Flynn, CoreValues, Ben Harburg, CNBC's, Harburg, Biden Organizations: People's Bank of China, CSI, CNBC Pro, China ETF, Therapeutics, YE25, U.S, TAL Education Group, Alliance Locations: China, Ph3, U.S

☆ Markets across Asia rebound; Chinese markets set to extend gains
▼ + stars: | 2024-09-26 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Red flags fly at Tiananmen Square in Beijing, China, on Wednesday, July 10, 2024. Asia-Pacific markets rose on Thursday, with markets in the region rebounding and Chinese markets poised to extend gains. Mainland China's CSI 300 has notched a five-day winning streak, hitting its highest levels in almost two months after Beijing rolled out a slate of economic stimulus measures on Tuesday. Meanwhile, Hong Kong's Hang Seng index is set for a third straight day of gains, according to futures data.

Persons: Hong Organizations: China's CSI Locations: Beijing, China, Asia, Pacific

☆ Chinese yuan hits strongest level against the dollar in over 16 months as investors assess PBOC stimulus
▼ + stars: | 2024-09-25 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

The Chinese yuan has weakened sharply against the U.S. dollar in the last several weeks as the greenback strengthens and investors worry about China's economic growth. China's yuan hit its strongest level in over 16 months on Wednesday after Beijing unveiled a slate of stimulus measures to shore up the slowing economy on Tuesday. The Chinese offshore yuan strengthened briefly to 6.9946 per dollar, the strongest since May 2023. China's onshore yuan is currently trading at 7.0319 against the greenback, also holding at the strongest levels since last May. China bonds rallied after the PBOC announcement with 10-year and 30-year yields hitting record lows.

Persons: Ben Emons, Edmund Goh, Zerlina Zeng, CreditSights, Pan Gongsheng, Emons, Hong, — CNBC's Evelyn Cheng Organizations: U.S, Beijing, greenback, Fed Watch, BNP, U.S ., Asia Credit, People's Bank of China Gov, CSI Locations: China, abrdn, Hong Kong, London, Singapore, New York

☆ Asia-Pacific markets open higher; Hong Kong's Hang Seng poised to rise 4%
▼ + stars: | 2024-09-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A General view showing the Hong Kong Skyline in Hong Kong, Saturday, May 22, 2021. (Photo by Vernon Yuen/NurPhoto via Getty Images)Asia-Pacific markets open higher on Wednesday, while futures for Hong Kong's Hang Seng Index suggested a 4% rise for the index when trading starts. HSI futures were at 19,763, compared to the index's last close of 19,000. Chinese markets rallied yesterday after the country's central bank announced a slate of economic support measures, with the HSI seeing its best day in seven months, while mainland China's CSI 300 recorded its largest one-day gain in over four years. Investors will be watching Australia's inflation numbers on Wednesday, with the consumer price index expected to post a 2.7% rise year on year, according to economists polled by Reuters.

Persons: Vernon Yuen Organizations: Hong Kong Skyline, Getty Images, CSI, Reuters Locations: Hong Kong, Asia, Pacific

☆ Beijing is no longer hiding its panic about the state of its economy
▼ + stars: | 2024-09-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

The measures were significant because Beijing has been holding back on a "bazooka" stimulus even though China's economy has been struggling to stage a convincing recovery post-pandemic. To be sure, this is not the first attempt China has made at boosting its economy in the past few years. However, Beijing's display of resolve also triggered market speculation that it's alarmed and panicked over the state of its economy, which is facing multiple challenges. Related storiesNotably, even on the heels of China's big stimulus announcement, most analysts also think Beijing still needs to do more to boost China's economy, particularly in boosting gloomy domestic demand. "Onshore stocks are a policy- and momentum-driven market, and policy signals don't get much clearer than this," they wrote.

Persons: —, Pan Gongsheng, Andrew Rocco, Rocco didn't, Pan, Freya Beamish, Rory Green, Anthony Sassine, Sassine, Rocco, macroeconomy, China's CSI300 Organizations: Service, People's Bank of China, Business, Lombard, Investors, Zacks Investment Research, Global Data.TS, Yahoo Finance, Data.TS Locations: China, Beijing, Swiss, London

☆ China just released aggressive measures to boost its economy — but some analysts say it's still not enough
▼ + stars: | 2024-09-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

"Today's policy measures are bold by historical standards," Betty Wang, the lead economist at Oxford Economics, wrote in a note on Tuesday. Stimulus measures don't address consumptionDespite the fanfare, analysts are divided over whether the moves that ease monetary policy constitute a massive "bazooka" stimulus. AdvertisementMost say the monetary easing policies don't address the lack of confidence contributing to depressed consumer spending. China has pulled out multiple support measures this year to shore up its economy and stock markets, but any kneejerk optimism has been shortlived. Advertisement"Overall, we feel today's measures are a step in the right direction, especially as multiple measures have been announced together rather than spacing out individual piecemeal measures to a more limited effect," Lynn Song, the Greater China chief economist at ING bank, wrote on Tuesday.

Persons: —, Pan Gongsheng, Pan, Betty Wang, Wang, it's, Nomura, Lynn Song Organizations: Service, People's Bank of China, Business, Analysts, Oxford Economics, CSI, Nomura, ING Locations: Beijing, China, Greater China

☆ Property stocks in Hong Kong rally on homes mortgage stimulus
▼ + stars: | 2024-09-24 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +3 min

Chinese property stocks rallied on Tuesday after top financial regulators vowed a range of monetary easing measures to provide some relief for millions of families and boost a recovery in the real estate market. During a high-level press conference Tuesday morning, People's Bank of China Gov. Hang Seng Mainland Properties Index surged as much as 5% when Hong Kong markets opened shortly after the announcement was made. Chinese policymakers have been ramping up support to reduce household's financial burden and shore up the troubled real estate sector. Homeowners could also be allowed to refinance with a different bank for the first time in years, the outlet reported.

Persons: Pan Gongsheng, Pan, William Wu, Bruce Pang, Pang Organizations: People's Bank of China Gov, Mainland Properties, Longfor Group Holdings, China Overseas Land & Investment, Daiwa, Bloomberg Locations: Beijing, Hang, Hong Kong, China, JLL

☆ 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

☆ 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

☆ Aussie stocks open higher as investors digest China economic data, await Fed rate verdict
▼ + stars: | 2024-09-16 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

Asian markets were set to open mixed Monday as investors digested the downbeat economic data from China released over the weekend, while several key markets were closed for holidays. Investors also await the Federal Reserve's policy meeting on Tuesday and Wednesday where the central bankers are expected to make their first interest rate cut since 2020. China released a slew of worrying economic data, with August factory output, retail sales and investment numbers missing expectations. Urban jobless rate rose to a six-month high while year-on-year home prices fell at the fastest pace in nine years. Reaction to China's disappointing economic data will be likely seen in the Hong Kong market.

Locations: China, South Korea, Japan, 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

☆ 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

☆ PDD just gave markets the latest warning on China's consumer. Where investors are looking instead
▼ + stars: | 2024-09-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

PDD 's tumble of nearly 30% last week on disappointing quarterly results is a reminder that China's consumer has largely moved on from its years of double-digit growth. "The reaction of its stock price is out of touch with its fundamentals," he said in Mandarin, translated by CNBC. "The entire Chinese consumer market is weak, yes, [but] PDD management's very peculiar comments caused the share price decline," he said. Chen Lei, chairman and co-CEO of PDD, warned multiple times on the earnings call about future declines in profit. Revenue grew by 21%, while adjusted earnings nearly doubled from a year ago.

Persons: PDD, Charlie Chen, Chen Lei, Morgan Stanley, Wang Xing, Trip.com, Liqian Ren, Ren, Joey Wat, Banks, Morgan, Richard Xu, Xu Organizations: China Renaissance Securities, CNBC, JPMorgan, Hong, Management, KFC, Yum, Savings Bank of Locations: Asia, Hong Kong, U.S, China, WisdomTree, Beijing, Yum China, Hong, Savings Bank of China

☆ CNBC Daily Open: Wall Street rebounds, investors to monitor earnings and inflation data
▼ + stars: | 2024-08-12 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange during morning trading on May 31, 2024 in New York City. 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. Asia markets climb higherAsia-Pacific markets were mostly higher on Monday ahead of U.S. economic data later in the week. [PRO] Distinct marketWhile U.S. and Japanese indexes fell sharply amid recent volatility, the MSCI China index rose slightly, reinforcing China's distinct market status despite slower growth.

Persons: Disney, Indiana Jones, Donald Trump, Sen, Elizabeth Warren, Elon Musk, Elon Musk's, Warren, Tesla, Robyn Denholm, Musk, Hai Precision Industry —, —, Australia's, Hong Organizations: New York Stock Exchange, CNBC, Wall, Dow Jones, Nasdaq, Magic, Hollywood, Inc, Animal Kingdom, Trump, Trump Media, SpaceX, Twitter, Hai Precision Industry, SK Hynix, China's CSI, U.S Locations: New York City, U.S, Magic Kingdom, Disney's California, Friday's, Asia, Pacific, Taiwan, Australian, China

☆ China stocks escaped much of the latest sell-off. Signals for whether to buy
▼ + stars: | 2024-08-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

The latest global market volatility has reinforced China's status as a distinct market, even if its growth has slowed recently. While U.S. tech stocks plunged and Japanese stocks swung wildly in a historic two days of price action , Chinese stocks suffered less . The investors remained net buyers of Chinese stocks for the third quarter so far as of Aug. 6, the data showed. Finally, the low correlation of the China stock market with the U.S. stock market could provide investors with diversification benefits." Chinese stocks, especially those traded on the mainland, have historically been less correlated to global market moves due to Beijing's capital controls and other restrictions.

Persons: Matt Wacher, William Yuen, Invesco, That's, Steven Sun, Paul Christopher, Morningstar's Wacher, it's, Wacher Organizations: Nasdaq, Nikkei, Morningstar Investment Management, U.S, HSBC, Technology, Shanghai —, Bank of, Federal Reserve, Treasury, HSBC Qianhai Securities, National Bureau, Statistics, Wells, Wells Fargo Investment Institute, Index Locations: Asia, U.S, Shanghai, China, Pacific, EPFR, Hong Kong, Bank of China, Wells Fargo

On Thursday, investors in Asia will assess trade data from Japan and interest rate decision from the Reserve Bank of India. Global equities and currencies plunged earlier this week after the Bank of Japan hiked interest rates to their highest levels since 2008, and the U.S. released weaker-than-expected employment numbers. Asia-Pacific markets were mostly down in choppy trading on Thursday after U.S. stock benchmarks fell overnight, while investors assessed trade data from Japan and awaited India's rate decision. "Assuming that the price stability target will be achieved in the second half of fiscal 2025, the Bank should raise the policy interest rate to the level of the neutral interest rate toward that time," the summary read. Japanese technology investor SoftBank Group said in a statement on Wednesday that it would buy back up to 500 billion yen ($3.4 billion) of its shares as part of its efforts to boost shareholder returns.

Persons: Shinichi Uchida, Lasertec, Korea's Kospi Organizations: Reuters, The Reserve Bank of, Reserve Bank of India, Global, Bank of Japan, Dow Jones, Nasdaq, Nvidia, Nikkei, Bank, SoftBank, Semiconductor, Isuzu Motors, China's CSI, Cathay, Hong Kong's, Airbus Locations: The Reserve Bank of India, Asia, Japan, U.S, Pacific, Hong, Cathay Pacific

☆ Nikkei 225: Asian markets make solid gains following global rout
▼ + stars: | 2024-08-07 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Asian markets made solid gains Wednesday, with Japanese shares reversing early losses after a central bank official played down the prospect of an immediate hike in interest rates. The gains follow days of volatility, which saw the Nikkei suffering Monday its biggest daily loss since 1987. “We won’t raise interest rates when financial markets are unstable,” he was quoted as saying in a speech to executives in the northern Japanese city of Hakodate. The central bank has hiked interest rates twice this year in a bid to contain inflation. Decades of extremely low interest rates in Japan had seen many investors borrow cash cheaply there before converting it to other currencies to invest in higher-yielding assets.

Persons: Shinichi Uchida, Kospi, Hong, Taiex, Uchida, ”, Olesya Organizations: Hong Kong CNN, Nikkei, Bank of Japan, US, Dow, Nasdaq Locations: Hong Kong, Asia, South, Hakodate, “, Japan, Europe, London

Asia-Pacific markets extended gains on Wednesday, tracking Wall Street benchmarks that snapped a three-day losing streak overnight. It further sold 3.87 trillion yen worth of dollars on May 1, ministry data showed. Customs data showed on Wednesday that China's imports in July grew faster-than-expected, while export growth missed forecasts. Exports in U.S. dollar terms rose by 7% for the month compared to a year ago, missing economists' expectations for a 9.7% increase. Meanwhile, U.S. dollar-denominated imports rose by 7.2%, far more than the economist's forecast of 3.5%.

Persons: Canon, Shinichi Uchida Organizations: Nikkei, Mitsui, SoftBank, Bank of Japan, Bank, Japan's Ministry of Finance, China's CSI, . Locations: Qingdao Port, Shandong province, Qingdao, China, Asia, Pacific

Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. The Bank of Japan raising rates to their highest level since 2008 on July 30 caused the yen to strengthen to a seven-month high, pressurizing stocks. Markets globally were also spooked by fears of a U.S. recession stoked by a weaker-than-expected jobs report. Real wages in Japan also grew 1.1% in June compared with a year ago, the first time that wages have risen in 26 months. Strong wage growth offers more room for the Bank of Japan to tighten its monetary policy.

Persons: Topix, Korea’s Kospi, Hong, Australia’s, Brent, Dow Organizations: Nikkei, Bank of, Softbank Group Corp, U.S ., South Korean, Samsung Electronics, chipmaker SK Hynix, China’s CSI, . West Texas, Bank of Japan, Reserve Bank of Australia, Dow, Nasdaq Locations: Japan, Asia, Pacific, Bank of Japan, U.S

☆ CNBC Daily Open: Dow sheds 1,000 points, Japan stocks rebound
▼ + stars: | 2024-08-06 | by ( Abid Ali | Kevin Lim | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Dow plummeted over 1,000 points, while the S&P 500 and Nasdaq Composite fell 3% and 3.4%, respectively. Wharton finance professor Jeremy Siegel urged the Federal Reserve to make an emergency 75-basis-point cut in the federal funds rate following Friday's disappointing jobs data. Siegel believes the current fed funds rate "should be somewhere between 3.5% and 4%," citing the higher-than-expected unemployment rate and declining inflation as reasons for the cuts. "How much have we moved the fed funds rate?

Persons: Berkshire Hathaway, Amit Mehta, Wharton, Jeremy Siegel, Siegel, Austan Goolsbee, Goolsbee, CNBC's, Korea's Kospi, Richard Kaye Organizations: CNBC, Dow Jones Industrial, Dow, Nasdaq, Tech, Nvidia, Tesla, Berkshire, Google, Department of Justice, Federal Reserve, Chicago Federal, Nikkei, Honda, Renesas Electronics, CSI Locations: U.S, Asia, Pacific

☆ Japan stocks plunge as much as 7%, hovering near bear market territory, as Asia shares extend sell-off
▼ + stars: | 2024-08-05 | by ( Lim Hui Jie | ) www.nbcnews.com time to read: +2 min

Japan’s markets led losses in the region as the Nikkei 225 and Topix dropped as much as 7% in volatile trading. At these levels, both the Nikkei and Topix are nearing bear market territory, having fallen almost 20% from their all-time highs on July 11. Monday’s decline follows Friday’s rout when Japan’s Nikkei 225 and Topix fell more than 5% and 6%, respectively. The broader Topix marked its worst day in eight years, while the Nikkei marked its worst day since March 2020. The Nasdaq was the first of the three major benchmarks to enter correction territory, down more than 10% from its record high.

Persons: Topix, “, Australia’s, Kospi Organizations: Nikkei, Mitsubishi, Mitsui, Co, Sumitomo, Topix, Reserve Bank of Australia, Reuters, CSI, Nasdaq, Dow, Dow Jones Locations: Asia, Pacific, China, Taiwan, Australia, India, U.S

☆ Nikkei 225: Japan stocks rebound sharply after worst rout in history as other Asia markets also rally
▼ + stars: | 2024-08-05 | by ( Laura He | Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Japanese shares soared in early trading on Tuesday, clawing back most of their record losses from the previous day and underpinning a regional rally. The Nikkei 225 last traded about 10% higher, while South Korea’s Kospi rebounded by about 3%. They all suffered major losses during the previous trading session. The bounce in Japan is “typical after a market crash,” Neil Newman, head of strategy at Astris Advisory in Tokyo, told CNN. Losses like that led the Nikkei to close 12.4% lower on Monday in its largest one-day fall since October 1987.

Persons: clawing, Kospi, ” Neil Newman Organizations: Hong Kong CNN, Nikkei, Advisory, CNN, Kikkoman, Nasdaq, Bank of Japan Locations: Hong Kong, South, Taiwan, Japan, Tokyo

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