Asian stocks follow moves from Wall Street

Asian stock markets mostly rose in afternoon trading on December 3, helped by a rebound on Wall Street. However, gains were limited as investors awaited key economic data from the US, which could influence the Federal Reserve's policy meeting next week.

Stock index board in Tokyo, Japan. Photo: Kyodo/VNA

Tokyo markets were up, with the Nikkei 225 index rising 1.1% to 49,864.68 points. Stock markets in Seoul, Sydney, Singapore, Wellington, Taipei (China) and Jakarta also rose. On the contrary, the Hang Seng index in Hong Kong (China) fell 1.3% to 25,760.73 points. Shanghai's Shanghai Composite index fell 0.5% to close at 3,878.00 points. Stock markets in Mumbai, Bangkok and Manila also recorded declines.

Investors are eyeing the ADP jobs report due today and the Personal Consumption Expenditures (PCE) index, the Fed’s preferred inflation gauge, due on December 5. Money markets are pricing in a 90% chance of a rate cut on December 10, with three more cuts expected by 2026.

Investors' confidence was further bolstered by news that President Donald Trump's top economic adviser, Kevin Hassett - who favors interest rate cuts - is now a leading candidate to lead the Fed when Chairman Jerome Powell's term ends next May.

In Vietnam, at the end of the trading session on December 3, the VN-Index increased by 14.71 points (0.86%) to 1,731.77 points, while the HNX-Index also increased by 0.80 points (0.31%) to 259.67 points.

Source: https://baotintuc.vn/thi-truong-tien-te/chung-khoan-chau-a-theo-sat-chuyen-dong-tu-pho-wall-20251203171741384.htm