Canada's main stock index extended its recent winning streak on Wednesday, led by gains for industrial and technology shares, as upbeat U.S. corporate earnings helped boost investor sentiment globally.
Investors in Asia are still digesting the impact of US President Donald Trump’s first few days in office, which have sent mixed signals to investors. Trump has reiterated a tariff threat against China but have largely spared the world’s second-largest economy from a feared escalation of the trade war.
Asian equities mostly rose Thursday, cheered by another tech-fuelled run-up on Wall Street after Donald Trump's huge AI investment announcement, as traders assessed the outlook for the next four years under the new president.
Bank of Japan data showed wholesale prices in Japan rose 3.8% in December last year compared to a year earlier, adding to pressures on the central bank to raise interest rates, possibly at a monetary policy meeting next week.
Japan's government is likely to submit a nominee on Jan. 28 to fill a seat on the central bank's board that opens up in March, three government and ruling party sources told Reuters.
Bank of America and Morgan Stanley earnings are out. Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.
Asian shares are mixed after China rolled out more moves to boost its lagging stock markets. Hong Kong and Shanghai rose but then shed some of their initial gains early Thursday.
If the Bank of Japan had behaved in a similar manner to its G 10 peers, notes Tim Baker of Deutsche Bank, the country’s interest rates would have increased by two percentage points over the past few years.
Asian markets took positive cues from Wall Street, which closed higher on strength in tech stocks. U.S. stock index futures rose in Asian trade, with blowout earnings from Netflix Inc (NASDAQ: NFLX) adding to the positive sentiment. Netflix surged over 10% in aftermarket trade.
Robin Brooks has had a storied career - former chief currency strategist at Goldman Sachs, former chief economist at the Institute of International Finance, and something of a cult icon in Brazil where he has been positive about the real's prospects.
Morgan Stanley is raising bonuses for some of its top investment bankers in Asia by as much as 40% this year after a jump in revenue, according to people familiar with the matter.
Market participants had been expecting Trump to announce trade tariffs via executive orders. Such a move would have increased expectations for a large-scale campaign, rising inflation and higher-for-longer Federal Reserve policy rates.