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Indices from Asia-Pacific traded mostly higher today - Japanese Nikkei gained 1.25%, S&P/ASX 200 moved 0.7% higher, Kospi is up 1.0%, indices from China traded 0.7% higher
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Asian stocks saw an upturn due to gains in US equities and a two-year low in the US inflation rate, reducing global market pressure from rising interest rates
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The Asian indices were fueled by surges in Hong Kong, Japan, and Australia; Sony's stocks rose by 4.75% in Tokyo after a Goldman Sachs' recommendation upgrade
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Chinese technology stocks gained for a fourth consecutive day following a meeting between Chinese Premier Li Qiang and tech enterprise executives, sparking hopes of an end to the government's crackdown on the sector
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Yesterday, the S&P 500 reached its highest point since April 20, 2022, outperformed by the Nasdaq 100
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The dollar index continues to decline; the NZD is the strongest currency in today's forex market. On the other hand, the JPY is the weakest, following several days of strong performance.
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China's actual trade balance of USD 70.62B fell short of the forecasted 74.9B, reflecting the global issues of trade slowness and economic stagnation
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Goldman Sachs predicts the Bank of Canada will implement one more 25 bps rate hike in October
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New Zealand's manufacturing PMI hit its lowest point since November 2022 at 47.5, with eight of the last ten months showing activity below 50.0
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The Melbourne Institute's Inflation Expectations survey showed that Australian consumers’ median expectations for price growth over the coming 12 months were at 5.2%, aligning with prior results and slightly exceeding expectations
After more than a week of solid Japanese Yen appreciation, USDJPY is slightly correcting today. However, USDJPY is still consolidating below 140. Yesterday's declines were more due to the weakness of the dollar against most currencies.
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