HONG KONG — Hong Kong stocks led gains in Asian markets Tuesday, though China real estate developer Vanke slumped more than 10%, while investors evaluated economic data from South Korea and Australia.Tokyo’s Nikkei 225 index climbed 0.3% to 39,936.35, recovering from Monday's decline.
Australia’s S&P/ASX 200 gained less than 0.1% to 7,900.50, despite its manufacturing sector index contracting to 47.3 in March from 47.8 in February, its fastest pace since May 2020. It's the latest evidence showing the U.S. economy remains strong despite high interest rates. That's a positive for the stock market because it can drive growth in profits for companies. But it can also keep upward pressure on inflation. That in turn could mean a more hesitant Federal Reserve when it comes to the cuts to interest rates that investors crave.
This week will offer several economic reports that could sway the Fed's thinking, including updates on job openings across the country and the strength of U.S. services businesses. The headliner arrives on Friday, when economists expect a report to show that hiring cooled a bit last month. Trump’s social media platform says it’s above ‘traditional key performance indicators.’ An auditor has substantial doubt it can continue as a going concernThe S&P 500’s first-quarter rally comes on the heels of last year’s 24% surge. There are strong arguments in favor of further gains.TORONTO — RBC is reopening HSBC Canada branches under its own brand on Monday after closing its takeover of the bank last week.
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