Asian stock markets mostly closed lower on Wednesday, as investors reacted to Federal Reserve Chairman Jerome Powell’s warning of the need for the Fed to raise interest rates faster and for a longer period of time than expected, in order to control inflation that remains at a very high level. Japan’s Nikkei closed at a …
Asian stock markets closed mixed on Monday after the Reserve Bank of Australia (RBA) announced a widely expected 0.25% interest rate hike. Meanwhile, China’s disappointing trade data for January and February weighed on investor sentiment. Japan’s Nikkei 225 rose 0.25% to close at 28,309.16, buoyed by hopes of China’s economic recovery following the country’s easing …
Foxconn, the largest supplier of Apple, announced that revenue for February 2023 was down 11.65% compared to the same period in 2022, primarily due to weaker demand for electronics. Despite the drop, Foxconn still recorded income of over $13 billion for the month, the second-highest all-time high for February. In a statement, Foxconn confirmed that …
Foxconn Earnings Slump in February Due to Slowing Demand Read More »
Goldman Sachs’ “buy” recommendation on Apple Inc shares has boosted the company’s stock, which soared more than 3% on Monday (March 6). The investment bank set a new price target of $199 per share, stating that high brand loyalty among consumers will help to increase Apple’s average revenue per user (ARPU) in the coming years. …
Apple shares soar more than 3% as Goldman Sachs raises ‘Buy’ target Read More »
Asian stock markets closed higher on Friday, March 3, buoyed by positive investor sentiment following the US Federal Reserve’s signaling of a slowdown in interest rates. Tokyo’s Nikkei closed at a two-month high of 27,927.47, gaining 428.60 points or 1.56%, driven by investor hopes of China’s economy recovering and strong sales from Japan’s major retailers. …
Most Asian stock markets closed down on Thursday, March 2, as investors are concerned about the possibility of the US Federal Reserve (Fed) raising interest rates. This comes after the Nasdaq index closed lower overnight, triggering a sell-off in tech stocks. Tokyo’s Nikkei closed down at 27,498.87, a decrease of 17.66 points or 0.06%. In …
Asian equities closed mixed on Tuesday, March 1st, as investors assessed the latest manufacturing data from China. The Chinese manufacturing Purchasing Managers’ Index (PMI) soared to its highest level since April 2012, indicating that the country’s economy is recovering. Hong Kong’s Hang Seng closed 4.21% higher at 20,619.71, up 833.77 points, supported by the positive …
Asian equities closed mixed on Wednesday, March 1st Read More »
Asian stock markets closed higher as investors assessed economic data across the region. In Japan, the Nikkei ended at 27,445.56, up 21.60 points, or +0.08%, boosted by hopes of an upturn in inbound tourism. The US Federal Reserve’s decision to continue raising interest rates also contributed to the positive sentiment. Meanwhile, Australia’s S&P/ASX 200 closed …
Asian stock markets ended lower on Monday as investors were concerned that the US Federal Reserve (Fed) will continue to raise interest rates. The Nikkei in Tokyo closed at 27,423.96, down 29.52 points, or -0.11%, led by technology stocks that trailed US stocks. In Australia, the S&P/ASX 200 fell by 82.20 or -1.12%, while the …
Asian Stock Markets Close Lower as Investors Fear Fed Raising Interest Rates Read More »
Dow Jones Industrial Average experienced its largest weekly drop this year as investors fear that the US Federal Reserve (Fed) may raise interest rates more aggressively. The Fed revealed that the price index for personal consumption expenditure (PCE) rose more than expected, which led to a rebound in US government bond yields and a stronger …