Author Archive

Lim Hui Jie

KEY POINTS

• David Roche, president of Quantum Strategy, said in a note on Sunday that Trump would win the presidency, with an increased probability of a Republican clean sweep of both the House of Representatives and the Senate.
• China’s economy grew 4.7% in the second quarter, missing expectations of a 5.1% expansion forecast by Reuters and lower than the 5.3% growth seen in the first quarter.

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Jenni Reid

KEY POINTS

• European stocks opened higher Friday, defying a broader selloff as global investors await the U.S. producer price index.
• Telecom stocks rose 0.95% led by Ericsson, which jumped 8% after reporting a smaller revenue decline than analysts expected.
• Technology stocks took their cues from Wall Street, retreating 0.3% after a choppy session in which investors rotated out of the “Magnificent Seven” into the rest of the market.

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Gold prices edged lower on Friday, but were headed for a third straight week of gains as cooler-than-expected U.S. inflation data boosted hopes of the Federal Reserve cutting interest rates in September.

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Lim Hui Jie

KEY POINTS

• Japan’s Nikkei 225 dropped 2.45%, leading losses in Asia after three straight days of setting new closing highs and closing at 41,190.68.
• In contrast, Hong Kong Hang Seng index surged 2.55%, while Australia’s S&P/ASX 200 set a new all time closing high.
• China’s exports beat expectations, climbing 8.6% year-on-year in June as compared to expectations of an 8% rise forecasted by a Reuters poll of economists.

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Holly Ellyatt@HOLLYELLYATT

LONDON — European stocks are expected to open higher Thursday as global markets look ahead to the next U.S. inflation reading.

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Gold prices extended gains on Friday to their highest level in a month following key U.S. jobs data the showed labor market was softening, lifting expectations around a Federal Reserve interest rate cut in September.

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Lim Hui Jie

KEY POINTS

• The Nikkei and the the broad-based Topix faltered and dipped from their record highs earlier in the session.
• The country’s household spending for May unexpectedly dipped 1.8% in real terms compared to the same period last year.
• South Korea’s Kospi was 0.9% higher, and the small-cap Kosdaq rose 0.61%. Heavyweight Samsung Electronics on Friday estimated that its second quarter operating profit will surge almost 15-fold.

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Gold prices edged up on Friday and were set for a second straight weekly gain, while traders awaited U.S. employment data to gauge the trajectory of the Federal Reserve’s potential interest rate cuts.

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Lim Hui Jie

KEY POINTS

• The Nikkei and the the broad-based Topix faltered and dipped from their record highs earlier in the session.
• The country’s household spending for May unexpectedly dipped 1.8% in real terms compared to the same period last year.
• South Korea’s Kospi was 0.9% higher, and the small-cap Kosdaq rose 0.61%. Heavyweight Samsung Electronics on Friday estimated that its second quarter operating profit will surge almost 15-fold.

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Gold prices drifted higher on Thursday after softer-than-expected U.S. economic data fueled hopes that the Federal Reserve could cut interest rates as soon as September.

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