MNI China Daily Summary: Friday, November 22

UK NOV FLASH MANUF PMI 48.6 (FCST: 50.0); OCT 49.9

EUROZONE NOV FLASH MANUF PMI 45.2 (FCST: 46.0); OCT 46.0

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

MNI China Daily Summary: Thursday, November 21

GERMANY NOV FLASH MANUF PMI 43.2 (FCST: 43.0); OCT 43.0

FRANCE NOV FLASH MANUF PMI 43.2 (FCST:44.5); OCT 44.5

MNI: GERMANY Q3 FINAL GDP 0.1% Q/Q (VS FCST 0.2%)

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ASIA STOCKS: Asian Equities Broadly Higher, Tech Stocks Lead Gains

ASIA STOCKS
EM BulletFixed Income BulletsBulletAPACEmerging Market NewsForeign Exchange BulletsMarkets

Asian markets broadly rose on Friday, buoyed by Wall Street’s gains and renewed optimism about Nvidia’s growth prospects. In Japan, strong US labor data and optimism in the chip sector supported exporters and tech stocks, with the Nikkei advancing 0.8%. A slight strengthening of the yen following comments from Bank of Japan Governor Kazuo Ueda limited further gains. Comments from Chicago Fed President Austan Goolsbee, indicating that U.S. interest rates could trend lower as inflation nears target, also bolstered sentiment.

  • Japanese equities are roughly 1% higher following news of a $140 billion government stimulus announcement, while Australian, Korean, and Taiwan also advanced. Semiconductor stocks have been the top performing, with the BBG Semiconductor  Index up 2.50% led by a 4.5% gain from SK Hynix and a 3% gain from TSMC, which has helped Taiwan's TAEIX jump 1.75%.
  • China & Hong Kong equities have struggled today, with most major benchmarks across the region trading lower, with the exception of the HSTech Index which is trading 0.65% higher.
  • Bitcoin surged past $99,000 before easing slightly, fueled by expectations of crypto deregulation under a Trump administration. Oil prices climbed further as geopolitical tensions intensified following Russia's missile strike on Ukraine and warnings of a broader conflict.
200 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Asian markets broadly rose on Friday, buoyed by Wall Street’s gains and renewed optimism about Nvidia’s growth prospects. In Japan, strong US labor data and optimism in the chip sector supported exporters and tech stocks, with the Nikkei advancing 0.8%. A slight strengthening of the yen following comments from Bank of Japan Governor Kazuo Ueda limited further gains. Comments from Chicago Fed President Austan Goolsbee, indicating that U.S. interest rates could trend lower as inflation nears target, also bolstered sentiment.

  • Japanese equities are roughly 1% higher following news of a $140 billion government stimulus announcement, while Australian, Korean, and Taiwan also advanced. Semiconductor stocks have been the top performing, with the BBG Semiconductor  Index up 2.50% led by a 4.5% gain from SK Hynix and a 3% gain from TSMC, which has helped Taiwan's TAEIX jump 1.75%.
  • China & Hong Kong equities have struggled today, with most major benchmarks across the region trading lower, with the exception of the HSTech Index which is trading 0.65% higher.
  • Bitcoin surged past $99,000 before easing slightly, fueled by expectations of crypto deregulation under a Trump administration. Oil prices climbed further as geopolitical tensions intensified following Russia's missile strike on Ukraine and warnings of a broader conflict.