☑️ JAPAN LEADS ASIA MARKETS HIGHER; NINTENDO RALLIES AFTER SAUDI FUND REPORTEDLY LOOKS TO RAISE STAKE
Asia-Pacific markets mostly climbed on Monday, led by Japan’s Nikkei 225 rising almost 2% as investors look ahead to a week of central bank decisions from around the region.
The Nikkei climbed 1.8%, powered by financials and consumer cyclical stocks, and closed at 39,332.74. Mizuho Financial Group and Nikon were among top gainers on the index.
Separately, shares of video gaming company Nintendo climbed almost 5% on Monday, after Saudi Arabia’s sovereign wealth fund was reported to be considering raising its stake in the company.
Source: CNBC
☑️ DOLLAR HOLDS GAINS MADE ON US JOBS DATA AND MIDDLE EAST FLARE-UP
The U.S. dollar edged down on Monday after a rally sparked by Friday’s strong U.S. jobs data and an escalation in the Middle East conflict.
The dollar’s gains followed a U.S. jobs report that showed the biggest jump in six months in September, a drop in the unemployment rate and solid wage rises, all pointing to a resilient economy and forcing markets to reduce pricing for Federal Reserve rate cuts.
The yen fell marginally to hit 149.10 per dollar, its weakest level since Aug. 16, before paring losses to trade around 148.40.
Source: Reuters
☑️ EUROPEAN MARKETS KICK OFF THE NEW TRADING WEEK WITH MORE POSITIVE MOMENTUM
European stocks started the new trading week on a positive note, buoyed by gains in Asia overnight and last Friday’s rally on Wall Street.
The pan-European Stoxx 600 index opened 0.56% higher Monday. Household goods and banks were among the best performing sectors, up 0.28% respectively, with the basic resources and chemicals sectors both down 0.3%.
European stocks looked set to continue the positive sentiment seen at the close of trade last week, with markets getting a boost from the latest U.S. jobs report that exceeded expectations.
Source: CNBC
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