Hong Kong
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Asia-Pacific markets were mixed on Monday after New York Fed President William Williams hinted at the possibility of a third interest rate cut this year.
Williams suggested Friday that the Fed may lower its key interest rate because a weak labor market poses a bigger economic threat than rising inflation.
The Fed only has one more meeting left in 2025, which will be held in the continental United States on December 9th and 10th. The target interest rate is currently 3.75-4.00%.
Federal funds futures are pricing in about a 70% chance of a quarter-point rate cut, up from about 44% in the week ending Nov. 14, according to the CME FedWatch tool.
Asian markets fell across the board last week, with traders fleeing tech stocks and leading stocks such as SoftBank, Samsung Electronics and Baidu posting losses.
hong kong Hang Seng Index Mainland China’s CSI300 index fell 0.12% to 4,448.05, while it rose 1.97% to 25,716.5, supported by tech and healthcare stocks.
The Korean market rose in the early stages, then turned negative. of Kospi The closing price was 3,846.06, down 0.19%, and the small-cap Kosdaq fell 0.87% to 856.44. Kospi heavyweight Samsung Electronics rose 2%.
Australia’s S&P/ASX 200 rose 1.29% to 8,525.1, rebounding from Friday’s 1.59% decline.
Monday, logistics group stocks cube Shares rose nearly 20% after Macquarie Asset Management made an A$11.6 billion ($7.49 billion) takeover bid for the company.
major mining company BHP The stock rose about 0.62% after the company announced it was no longer considering a merger with British mining company Anglo American.
India’s Nifty 50 and BSE Sensex were trading flat as of 2pm local time.
Japanese markets were closed for the holiday.
All three major indexes rallied in the U.S. on Friday, with the Dow Jones Industrial Average up 1.08%, the Nasdaq Composite up 0.88% and the S&P 500 ending up 0.98%.
—CNBC’s Sean Conlon and Pia Singh contributed to this report.
