Asian Stocks Muted as Japan's Budget Plans Boost Shares

Asian stocks were largely muted on Thursday as trading remained thin with major stock indexes shut for holidays, while Japanese shares climbed after a report showed Japan planning a record budget for the upcoming fiscal year. Stock markets in Indonesia and Hong Kong were closed for Christmas, while Australia and New Zealand markets were shut on Thursday for the Boxing Day holiday.

Asian markets were nursing losses in recent sessions after the Federal Reserve flagged a slower pace of interest rate cuts in 2025- a scenario that bodes poorly for risk-driven assets. Japan's government is preparing a record $735 billion budget for the fiscal year starting in April, driven by rising social security and debt-servicing expenses, according to a draft obtained by Reuters. The 115.5 trillion yen draft budget comes as the Bank of Japan moves away from its decade-long stimulus program, increasing pressure on the government to take on a larger role in supporting the economy. BOJ Governor Kazuo Ueda said on Wednesday that the economy is expected to make progress toward sustainably reaching the central bank's 2% inflation target next year, hinting that an interest rate hike could be approaching. However, he emphasized the importance of carefully evaluating the impact of uncertainties in global economies, particularly the policies of the incoming U.S. administration under President-elect Donald Trump. Chinese authorities have decided to issue a record-breaking 3 trillion yuan ($411 billion) in special treasury bonds next year, in an intensified fiscal effort to stimulate a struggling economy, Reuters reported on Tuesday. Moreover, China is allowing local officials to broaden investments with key government bonds and simplifying approvals, permitting projects unless restricted by a cabinet-published list, to better utilize public funding for economic growth, a government document showed on Wednesda

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Asian Stocks Decline After Trump's Trade Tar ThreatAsian stock markets saw a decline on Tuesday following U.S. President-elect Donald Trump's announcement of additional tariffs on goods from China and other countries. This announcement escalated fears of a renewed trade war between the U.S. and China.
Bron: Investingcom - 🏆 450. / 53 Lees verder »

Asian chip stocks mostly rise, shrugging off new U.S. semiconductor export curbs on ChinaShares of major Asian chip stocks mostly rose on Tuesday, shrugging off the U.S. announcing new emiconductor export controls on China. 
Bron: nbcsandiego - 🏆 524. / 51 Lees verder »

Stock market today: Asian shares rise after tech stocks pull Wall Street to another recordAsian shares are mostly higher after technology stocks pulled Wall Street to another record finish.
Bron: wjxt4 - 🏆 246. / 63 Lees verder »

Stock market today: Asian shares rise after tech stocks pull Wall Street to another recordAsian shares are mostly higher after technology stocks pulled Wall Street to another record finish. Benchmarks rose in Tuesday trading in Tokyo, Seoul, Sydney, Hong Kong and Shanghai. On Monday, the S&P 500 rose 0.2% after closing November at an all-time high. The Dow Jones Industrial Average fell 0.3%, and the Nasdaq composite gained 1%.
Bron: AP - 🏆 728. / 51 Lees verder »