News
Asian shares mostly advance following US midterms, though Kospi falls on selling of chipmakers
Asian markets experienced an upswing on Thursday, buoyed by a rebound in U.S. equities following the midterm elections. The Dow Jones leapt over 3% as political shifts occurred, leading to the loss of control for President Trump's party. Meanwhile, South Korea's Kospi mirrored struggles in the tech sector, particularly affecting AI stocks, while a drop in oil prices severely impacted energy firm shares.
KOSPI crashes 4% as US midterm shock rattles Asian markets
Oil prices and stock markets reacted significantly to the recent midterm election victories by Democrats in the United States. Asian chip stocks declined alongside the dollar, indicating market volatility following the elections. Lower oil prices have resulted in a bond rally, subsequently reducing yield rates. Anticipation of increased support for renewables is driving optimism in solar supply chain stocks.
Global Market Today: Asian stocks rise as oil slides after US midterm elections
Benchmark indexes rose in Japan and Australia, pushing the MSCI Asia Pacific Index up by 0.3%. That was after the S&P 500 Index jumped 1.6%, its biggest gain in three months, and the tech-heavy Nasdaq 100 climbed 0.9%. South Korea was the outlier, with the Kospi Index dropping 2.7%, reflecting investor concerns over the future of data-center development and losses in US chip stocks.
Alcohol stocks jump as blue wave boosts industry prospects
As the midterm elections unfold, investors are directing their focus to the alcohol sector, anticipating positive impacts on companies such as Constellation Brands due to shifting immigration policies. Optimism surrounding decreasing trade tensions with Canada also seems to uplift brands like Brown-Forman. However, the looming tariffs have caused a sharp decline in US spirits exports, and overall alcohol consumption in the country is still at historical lows, despite minor upticks.
US midterm elections: Crude cools, but Iran war risks keeps markets guessing
Oil prices are expected to stay elevated amid President Trump's weakened political position after the midterms. Uncertainties regarding the Iran conflict could impact military strategies, potentially leading to higher oil costs. A resolution that restores oil transport through the Strait of Hormuz is crucial for reducing oil prices. Trump’s decisions may influence the ongoing military conflict or create a deal with Iran.
Musk stocks lose $120 billion as Democrats’ Texas win rattles investors
Tesla and SpaceX lost more than $120 billion in combined market value after Democrats scored major election victories in Texas and across the US. Investors are concerned that a Democrat-controlled Congress could increase scrutiny of Elon Musk’s businesses, complicate a potential Tesla-SpaceX merger and create fresh regulatory hurdles.
BULL'S EYE
6 smart moves to take control of your debt before it controls you
6 money myths that are stopping you from building wealth
Income Tax Department busts fake tax deduction racket
Sovereign Gold Bond 2017-18 Series I final redemption announced
Prices of LPG cylinder in Delhi, Mumbai, Kolkata
HDFC Mutual Fund "Tap2Invest" on WhatsApp
Should you opt for the old tax regime, or the new tax regime ?
Money deadlines in March 2025
Top 5 ELSS funds with up to 23% returns in 3 years
Market Movers
Markets Videos
Bitcoin rebounds with stocks despite threat to crypto agenda
Bitcoin rebounds more than 4% to above $81,000, tracking a broader recovery in financial markets after the US midterm elections. However, Democratic control of Congress threatens to stall crypto-friendly legislation and increase regulatory scrutiny. Investors are also weighing the impact of political uncertainty, Treasury yields and institutional adoption.
AI data center stocks dip, renewables surge after Democrat sweep in US midterm elections
AI data centre stocks declined while renewable energy and healthcare shares rallied after Democrats won control of Congress in the US midterm elections. Investors assessed the possibility of tighter AI oversight and continued clean energy support. Defence contractors and prison operators fell amid concerns over changing government spending and immigration policies.
US Treasury shifts language, opening door to auction size changes
The US Treasury Department has updated its regulations regarding upcoming auction sizes for treasury securities. This revision hints at a potential increase in the issuance of short- and intermediate-term debt. They also flagged a likely decrease in demand for longer-term 20- and 30-year auctions. Future adjustments will rely on demand trends and financial requirements, with the Treasury planning to consult market participants for a thorough understanding of these changing factors.
Meta draws record orders for debut euro bond sale, Bloomberg News reports
Meta Platforms has successfully garnered an impressive €53 billion in investor interest for its inaugural euro bond issuance. With an ambition to raise €9 billion divided into six distinct parts, this move follows their recent $15 billion bond offering in the US market. Citigroup and Morgan Stanley are at the helm of this euro bond sale, with pricing anticipated shortly. As of September 30, Meta's total debt reached $83.67 billion.
Gold gains 3% as dollar slides after Democratic midterm gains
On Wednesday, gold prices surged by 3%, reaching impressive new levels following the midterm elections, during which Democrats secured control of both the Senate and House. This political transformation, combined with a weaker dollar, heightened gold and precious metals demand. Investors are keenly watching for the upcoming US non-farm payrolls report, as rising interest rates and ongoing fiscal risk concerns continue to influence market sentiment.
Prediction markets get Democratic win right, with a few surprises
Prediction markets provided insights during the US midterm elections, with $1.48 billion wagered on the outcomes. Democrats gained control of both the Senate and House of Representatives after delivering a rebuke to Donald Trump. Despite some accurate forecasts, notable surprises emerged, such as Annie Andrews' victory in South Carolina against expectations. Kalshi and Polymarket reflected varying probabilities, emphasizing the predictive capabilities of betting markets.
European shares rise as banks, clean energy stocks rally; Novo Nordisk jumps
European shares advanced after Democrats secured both chambers of the US Congress, lifting investor sentiment. Banks and clean-energy stocks led the rally, while Novo Nordisk gained after raising its full-year sales and profit forecasts.
Eurozone bond yields steady as investors await inflation data; US Treasury yields ease after midterm elections
Eurozone government bond yields were steady as investors awaited October inflation data, while US Treasury yields declined after Democrats gained control of both chambers of Congress. Markets also assessed the likelihood of further European Central Bank rate hikes in December.
Coca-Cola HBC raises 2026 revenue growth forecast on strong demand
Coca-Cola HBC has upgraded its annual organic revenue growth outlook, driven by successful pricing strategies and heightened consumer demand. In the third quarter, the company achieved a notable 9% organic revenue growth, surpassing the anticipated 8%. This surge was propelled by effective promotional initiatives tied to the FIFA World Cup and increased summer demand.
China Services PMI slows to three-month low; what lies ahead for Chinese stocks?
China’s services sector expanded at its slowest pace in three months as rising costs and intense competition squeezed margins. The weaker PMI and declining business confidence may weigh on Chinese equities, although sustained growth in export orders offers some support.
