China and Hong Kong stocks open mixed
Chinese and Hong Kong stocks traded mixed Thursday.
As of 9:32 a.m. local time (9:32 p.m. ET Wednesday), the Hang Seng Index rose 0.58%, while mainland’s CSI 300 was flat.
Asia-Pacific markets start the day mixed
Asia-Pacific markets opened mixed Thursday.
Japan’s Nikkei 225 benchmark fell 0.31%, reversing course from its record high close in the previous session. Meanwhile, the broader Topix index lost 0.64%, as of 8:05 a.m. Singapore time (8:05 p.m. ET Wednesday).
In South Korea, the Kospi index added 0.39%, while the small-cap Kosdaq was flat.
Over in Australia, the S&P/ASX 200 benchmark increased by 0.49%.
— Amala Balakrishner
Bitcoin rises to record high after rally in U.S. equities
Bitcoin rose sharply early Thursday and briefly hit a record high of $123,769, following a rally in U.S. equities overnight.
As of 7:52 a.m. Singapore time (7:52 p.m. ET), Bitcoin had advanced 0.47% to $123,507.07.
Bitcoin prices
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Here are the opening calls for the day
Good morning from Singapore.
Investors are awaiting the release of a slew of employment-related data from Australia.
Economists polled by Reuters expect an increase of 25,000 employed individuals in July, compared to the modest jump of 2,000 the month before. The unemployment rate in July is expected to come in at 4.2%, an improvement from 4.3% in June.
Australia’s S&P/ASX 200 was set to start the day flat with futures tied to the benchmark at 8,825, compared with the index’s Wednesday close of 8,827.10.
Japan Nikkei 225 was set to open lower, with the futures contract in Chicago at 43,135 while its counterpart in Osaka last traded at 43,140, against the index’s last close of 43,274.67.
Futures for Hong Kong’s Hang Seng index stood at 25,741, pointing to a stronger open compared with the HSI’s last close of 25,613.67.
— Amala Balakrishner
Stock futures open little changed
U.S. stock futures traded just below the flatline on Wednesday evening.
S&P 500 futures fell 0.1% shortly after 6 p.m. ET, along with Nasdaq 100 futures. Futures tied to the Dow Jones Industrial Average lost 36 points, or about 0.1%.
— Sean Conlon
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Fundamental stock market backdrop remains robust, Wolfe Research says
In a Wednesday note to clients, Wolfe Research pointed to a solid earnings season for continuing the boost the fundamental backdrop of the U.S. economy.
“With U.S. policy (tariff and monetary) incredibly volatile throughout the quarter, we viewed these results as very strong,” wrote Chris Senyek, the firm’s chief investment strategist.
“While tariff volatility depressed the earnings outlook for the S&P 500 after the Trump Administration’s Liberation Day, estimates have bounced back as companies continue to beat expectations and provide solid forward guidance,” he continued. “Though we expect seasonal volatility to pick up in the weeks ahead, the fundamental picture for stocks continues to be strong, especially as strong secular tailwinds, such as the AI Spending Narrative, remain intact.”
— Lisa Kailai Han
