Singapore’s central bank kept its monetary policy unchanged for a second straight meeting, maintaining the rate of appreciation of its Singapore dollar nominal effective exchange rate policy band. China reported a smaller-than-expected decline in exports in September compared to a year ago, while imports missed, according to customs data released Friday. Other stocks dragging down the index include China Merchants Bank which fell 1.27%, while Ping An Insurance  lost 1.67%.

  • Thanks to high mortgage rates, elevated home prices and rent payments, as well as rising insurance costs amid extreme weather events, Americans are facing a historic lack of affordability in the housing market.
  • Even with Friday’s sizeable selloff, the Nikkei still gained 4.26% for the week, snapping a three-week losing run.
  • He also noted that while the recent auctions didn’t go well, bond yields didn’t shoot to new highs.

Hong Kong’s Hang Seng Index fell more than 2%, dragged by the consumer cyclicals sector. In Japan, the Nikkei 225 slipped 0.55% to close at 32,315.99 and South Korea’s Kospi fell 0.95% to end at 2,456.15. A move back above the 100-day SMA would send a more bullish message, and could then open the way to the August and September high around 15,500, and then on towards 15,760. The buyers came riding to the rescue on Monday, causing a bounce from the 200-day simple moving average (SMA).

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The Nikkei 225 (JPN225), commonly referred to as “The Nikkei” is a Japanese stock market index based on the market capitalization of the top 225 companies traded on the Tokyo Stock Exchange (TSE). This is a price-weighted index based on the Yen, and the value has been calculated daily by the Nihon Keizai Shimbun (Nikkei) newspaper since the Index’s inception in 1950. The Nikkei 225 index got its start on September 7, 1950 and was retroactively calculated back to May 16, 1949. Nikkei 225 Futures Contracts got their start on the Singapore Exchange (SGX) in 1986 and then began trading in the United States when they debuted on the Chicago Mercantile Exchange (CME) in 1990. The Nikkei is the most widely quoted index when referring to Japanese equities, followed by the Topix which seeks to track all 1,669 companies listed on the first section of the Tokyo Stock Exchange (TSE).

“While end-user takedowns at auctions have remained high in recent years, the recent drop in end-user demand is concerning as dealer capacity to backstop auctions remains lower due to limited balance sheet availability,” they wrote. Online services companies Rakuten Group and Recruit Holdings fell 4.32% and 3.5%, respectively. “It’s an environment that’s ripe for profit-taking,” said Nomura Securities strategist Maki Sawada, noting the Nikkei’s 4.8% rally of the past three days and the looming weekend. Hong Kong’s Hang Seng Index gained 1.3%, its fifth straight day of gains and the longest winning streak for the index since mid-July. The Hang Seng Index rose by 1.3% driven by significant contributions from Sunny Optical Technology, Xinyi Solar Holdings, and Semiconductor Mfg Intl which saw share increases of 12.2%, 7.2%, and 6.7% respectively. On the other hand, China Hongqiao Group, Orient Overseas Intl, and Chow Tai Fook Jewellery experienced decreases of 2.8%, 1.8%, and 1.2% respectively.

The Nikkei 225, commonly referred to as “The Nikkei” is a Japanese stock market index based on the market capitalization of the top 225 companies traded on the Tokyo Stock Exchange (TSE). Nikkei Inc. has developed and calculated its own indexes from various perspective, looking at changes in society and markets. Interactive daily chart of Japan’s Nikkei 225 stock market index back to 1949. Each data point represents the closing value for that trading day and is denominated in japanese yen (JPY). The current price of the Nikkei 225 Index as of October 13, 2023 is 32,315.99.

Westpac Banking Corp (WBC) gained 2.05%, with the National Australia Bank (NAB) rising by 1.51%. The Commonwealth Bank of Australia (CBA) and ANZ Group (ANZ) ended the day up 1.07% and 0.92%, respectively. On Thursday, the NASDAQ Composite and the S&P 500 fell by 0.12% and 0.13%, with interactive brokers forex review the Dow declining by 0.03%. Americans’ average rent payments jumped to $2,047 in September, per Zillow, a 3.2% year-over-year increase. States facing particular affordability challenges include Oregon, Washington, Colorado, Florida, Massachusetts, New York, Hawaii, and California.

It guides the Singapore dollar against an undisclosed basket of currencies of its major trading partners, adjusting the pace of its appreciation or depreciation by tweaking the slope, width and center of the currency band. The Monetary Authority of Singapore does not disclose any detail relating to this band. China’s exports have fallen on a year-on-year basis every month this year starting in May. The last positive print for imports on a year-on-year basis was in September last year. Tepid prices underscore what China’s top leaders labeled as a “tortuous” economic recovery after the country emerged from its draconian zero Covid curbs toward the end of last year.

  • Sellers will want to see a drop back to, and then a close below, the 200-day SMA to ignite a more bearish scenario.
  • The buyers came riding to the rescue on Monday, causing a bounce from the 200-day simple moving average (SMA).
  • “Prospects for the Singapore economy are muted in the near term but should improve gradually in H2 2024.”
  • On Thursday, the NASDAQ Composite and the S&P 500 fell by 0.12% and 0.13%, with the Dow declining by 0.03%.
  • Dividend payments and stock market turnover are not considered when calculating the index.

In his view, yields are soaring as activist traders, known as bond vigilantes, are trying to push interest rates to levels that will force the US government to tackle its runaway deficits and debt. But market veteran Ed Yardeni told Insider that bond yields axitrader review could already be at the right levels to bring back demand. But dealers had to pick up 18% of the sales, greater than the typical 11% share, as more buyers balked. That followed similarly weak auctions this past week for three-year and 10-year Treasurys.

Singapore keeps monetary policy stance unchanged

But for now, bond market yields should level off after weeks of turmoil, Yardeni said. In a note Thursday, strategists at TD Securities raised the question of whether it’s a “canary in the coal mine.” Seven & i Holdings – the operator of the 7-Eleven convenience store chain in Japan – was a noteable loser, dropping 4.48% after releasing its own financial results. Fast Retailing was the Nikkei’s only major winner on the day, with the next best performing stock – oil company Inpex – rising just 0.83%.

Hang Seng and Nikkei 225 Indices Rise, FTSE Straits Times Index Falls

Monday’s session saw some decent bullish price action, with the price rallying off its lows and finishing well above Friday’s lows. A close below 14,600 would be needed to reverse start careers: the different types of developer jobs! the first stirrings of a bullish view created by Monday’s price action. Sumitomo Mitsui Financial Group (8316) and Mitsubishi UFJ Financial Group fell by 0.46% and 1.27%.

JD.com shares slump to lowest in a year on prospects of weaker growth

Oil, U.S. Treasuries and gold prices rose on Friday, with crude soaring nearly 6%, on safe-haven buying driven by the escalating Middle East conflict as Israel urged civilians to leave the northern Gaza Strip. JD.com shares tumbled to its lowest in a year, hit by a series of broker downgrades and target price revisions on the prospect of weaker retail growth for the Chinese e-commerce giant. China’s producer price index fell 2.5% from a year earlier, weaker than economists’ expectations for a 2.4% decline. Leading the index’s losses is e-commerce giant JD.com, which slumped as much as 12% to its lowest in a year.

The overnight moves across the US equity markets kickstarted a cautious start to the Friday session. Investors were likely mindful of the implications of the US Jobs Report on the Fed rate path and its impact on the markets. The table below lists the current and historical price-earnings ratio and CAPE ratio of the Nikkei 225 index. The trailing price-earnings ratio of the Nikkei 225 index is currently 18.09 and the CAPE ratio is 26.39 (July 1st, 2023). The Nikkei is one of the most widely recognized stock market indices in Japan. It tracks the performance of the largest and most actively traded companies listed on the Tokyo Stock Exchange (TSE).

The data format and delivery method can be individually customized based on your requirements. Indeed, Asian stocks are benefitting, like equities in Europe and the U.S., from a retreat in global bond yields in recent days, which has alleviated some pressure off shares after yields surged dramatically over the past few weeks. Asia-Pacific stocks mostly increased Thursday, Oct. 12, with shares in Hong Kong rising for the sixth day and the Japanese market showing a third day of gains.

German shoe brand Birkenstock’s debut on the New York Stock Exchange earlier this week has given investors and analysts insight into the financials and metrics of a sizeable single-brand footwear company for the first time. Using this information as a benchmark, Investec analysts believe that there is significant growth potential for a London-listed stock that the market may be underestimating. China’s consumer price index for September came in flat, lower than a 0.2% climb which analysts polled by Reuters expected. China also reported a 2.5% decline for its producer price index, compared to Reuters’ estimates of a 2.4% drop.