Waiting for signal from Fed, Asian stocks move in opposite directions

Asian stock markets recorded mixed developments in the trading session on December 1, as investors were waiting for important economic data from the US, which is considered a key factor affecting the possibility of the US Federal Reserve (Fed) cutting interest rates.

A trader works at a securities company in Tokyo, Japan. Photo: Kyodo/VNA

After last week's strong gains, Asian stock markets were mixed. At the close of the session in China, the Hang Seng Index in Hong Kong rose 0.5% to 25,993.28 points, while the Shanghai Composite Index in Shanghai rose 0.7% to 3,914.01 points. Green was also recorded in Singapore and Bangkok.

Meanwhile, Sydney, Seoul, Wellington, Manila, Mumbai and Taipei markets fell. Similarly, in Tokyo, the Nikkei 225 index fell 1.9% to 49,303.28 points, as the yen strengthened on expectations that the Bank of Japan (BoJ) will raise interest rates this month.

Overall, market sentiment is being buoyed by the likelihood of a Fed rate cut. Rate cut expectations spiked in late November after several policymakers at the bank expressed support, as they were more concerned about labor market weakness than persistently high inflation.

In addition, the news that President Donald Trump's top economic advisor, Kevin Hassett - a supporter of interest rate cuts - is the most promising candidate to take over the position of Fed Chairman next year has contributed to strengthening the market's optimistic sentiment.

Although the forecast odds for a third consecutive rate cut on December 10 are hovering around 90%, traders will still closely monitor a series of economic indicators released this week to assess the Fed's intention to maintain the cutting momentum.

Reports due this week include private sector employment, services activity and the personal consumption expenditures (PCE) index - the Fed's preferred inflation gauge.

In Vietnam, at the end of this session, the VN-Index increased by 10.68 points, or 0.63%, to 1,701.67 points, while the HNX-Index decreased by 2 points, or 0.77%, to 257.91 points.

Source: https://baotintuc.vn/thi-truong-tien-te/cho-tin-hieu-tu-fed-chung-khoan-chau-a-dien-bien-trai-chieu-20251201153550224.htm