Nikkei holds steady amid semiconductor surge: Nvidia earnings loom, Yen’s strength weighs
Market analysts suggest that the upcoming Nvidia earnings report could significantly influence investor sentiment, not just in Japan but across global markets.
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Market analysts suggest that the upcoming Nvidia earnings report could significantly influence investor sentiment, not just in Japan but across global markets.
Investors in Tokyo were buoyed by the U.S. market’s positive performance, which has increasingly led to speculation that the Fed might ease its monetary policy in response to softening economic indicators.
The decline was largely attributed to the yen's strengthening, which hit a six-month high against the dollar, trading at 138 yen per dollar during the session.
Market analysts attribute the rally to a combination of factors, chief among them the prospect of the yen stabilizing after weeks of rapid gains against the U.S. dollar.
The NTD’s appreciation has been particularly pronounced, with the currency gaining over 2% against the U.S. dollar in just the past month.
The Indian currency has been hovering near the 84 per dollar mark, a level that analysts suggest could act as a psychological threshold in the near term.
Opening the day at the same level as its previous close, the rupee traded within a narrow band against the dollar.
At the recent G20 development meeting, Russian Deputy Foreign Minister Alexander Pankin addressed a significant shift in the global financial landscape: the diminishing dominance of the U.S. dollar.
South Korean stocks surged over 2% fueled by hopes for U.S. rate cuts. KOSPI closed at 2,734.36, with tech giants like Samsung Electronics and SK Hynix leading gains. The local currency strengthened against the U.S. dollar.
Taiwanese financial institutions, encompassing banks, insurance firms, securities, and investment trusts, achieved their second-highest aggregate profits in history, reaching NT$703.6 billion ($22.58 billion), a robust 46.71% increase from the previous year.
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