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Asian stock markets right now rally on expectations of Fed action

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asian stock markets right now

Most Asian stock markets right now continued to rise amid rising expectations of a hawkish Federal Reserve easing, while the Australian stock market lagged as inflation in the country hit a 32-year high, indicating more economic turmoil.

Asian stock market rises at current

Hong Kong and Chinese indices were the leaders of the day as they recovered from a sharp drop earlier in the week. Hong Kong’s Hang Seng rose 2% from a 13-year low and China’s Shanghai Shenzhen CSI 300 index gained 1.4%.

However, both indices are trading significantly lower for the week amid concerns about China’s political climate and slowing economic growth.

The rest of the Asian indices rose, ignoring the weak start to trading on Wall Street. Japan’s Nikkei 225 index added 0.8% and Malaysia’s index was the top gainer in Southeast Asia, up 0.5%.

Sentiment in risk-oriented markets improved amid growing expectations that damage to the U.S. economy may prompt the Federal Reserve to soften its hawkish stance.

The market remains unanimous about the likelihood of a 75 basis point rate hike in November. But estimates that the central bank will go for a smaller rate hike in December are rising.

A series of weak U.S. economic data this week also fueled speculation of a potential reversal. Attention will now turn to third-quarter U.S. GDP data due out later this week, which will give more insight into the state of the world’s largest economy.

This year, a series of sharp interest rate hikes by the U.S. Federal Reserve has had a strong impact on Asian stocks as rising yields and limited liquidity have negatively impacted sentiment toward risky assets. This trend is likely to continue in the near term.

Earlier we reported that the US stock market ended Monday with growth.

Stock Markets

 Comcast Lights Up WiFi Boost Delivering Gig Speeds to Xfinity Mobile Customers on Millions of WiFi Hotspots

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Free Feature Supercharges Xfinity Mobile and Comcast Business Devices with Gig Speed On the Go

PHILADELPHIA–(BUSINESS WIRE)–Xfinity Mobile and Comcast Business Mobile devices can now connect to millions of new Xfinity Mobile hotspots and receive Internet speeds over WiFi up to 1 Gigabit per second (Gbps). By delivering a faster connection over Xfinity’s WiFi network, Comcast is helping ensure customers can stream, game, chat, download and surf wherever they are.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240409929896/en/

Comcast delivers gig speeds to Xfinity Mobile and Comcast Business Mobile customers (Graphic: Business Wire)

Today 90 percent of the mobile data traffic on Xfinity Mobile devices travels over WiFi, not cellular. With more than 23 million WiFi hotspots giving customers a speed boost, Xfinity Mobile continues to deliver a better experience to support data-intensive applications when traditional cellular networks can’t keep up. Comcast has invested more than $20B over the past five years to upgrade and expand the Xfinity network and introduce new innovative features like WiFi Boost to support the constantly increasing number of connected devices consumers use both inside and outside of the home.

We’re supercharging hotspots to unlock the full potential of our customers’ mobile devices and give you the boost you need, when you need it, to download a large file, stream a live sporting event, or host an important video call, said Kohposh Kuda, senior vice president, Xfinity Mobile, Comcast. A billion devices connect to WiFi over our network because it delivers a superior experience. We’ve invested billions of dollars in a network that can support the massive growth in data consumption and our WiFi Boost upgrade is a huge win for our mobile customers.

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As consumers increasingly want to enjoy experiences on the go, Xfinity Mobile and Comcast Business Mobile are tapping into the nation’s largest and most powerful WiFi network to deliver their customers even more speed. The extensive availability of WiFi is a major reason why Xfinity Mobile and Comcast Business Mobile are the fastest mobile services1 in Comcast areas.

Powered by a World-Class Network
WiFi Boost is made possible by Comcast’s fiber-based network which has been built to deliver an exceptional Internet experience, ubiquitously, to the more than 60 million homes and businesses and across more than 23 million WiFi hotspots in Comcast’s footprint. It is a culmination of years of research, technological breakthroughs, and massive investments, including more than $20 billion since 2018 alone, in development and infrastructure.

Fast speed is an important feature of a comprehensive connectivity experience that also combines this powerful network with sophisticated hardware and software to deliver incredible benefits to consumers, including 99.99 percent reliability, advanced cybersecurity protection, low latency, access to streaming content, and more.

Unlimited Plans Designed for Savings
Xfinity Mobile offers unlimited data plans for its Xfinity Internet customers and now those data plans are simpler and more affordable than ever. As customers add more lines, the more they save. Customers on unlimited plans get free calling and texting to Canada and Mexico from the United States. Unlimited customers also receive calling, texting, and roaming free to the U.S. when visiting Canada and Mexico.

With free access to up to gig-speed WiFi through the Xfinity network, unlimited data plans designed to save money, and the most popular devices, Comcast has emerged as one of the fastest growing mobile providers in the country with Xfinity Mobile and Comcast Business Mobile. The services have combined to add more than 6.5 million lines since launching in 2017 and have a long runway for sustained growth ahead. Both are offered as a value-added benefit to Internet customers who regularly rank Xfinity among the leading mobile providers in customer satisfaction.

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For more information or to sign up for Xfinity Mobile, visit an Xfinity Store or www.xfinity.com/mobile.

About Comcast Corporation (NASDAQ:)
Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences. Visit www.comcastcorporation.com for more information.

1 Based on consumer testing of mobile WiFi and cellular data performance from Ookla ® Speedtest Intelligence ® data in Q4 ’23 for Comcast service areas, including its WiFi footprint, verified by Ookla for Comcast’s analysis.

Media:
Joel Shadle
Comcast Corporation
Joel_Shadle@comcast.com

Source: Comcast Corporation

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Stock Markets

Blinken plans to visit Saudi Arabia to take part in World Economic Forum, Axios reports

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(Reuters) – U.S. Secretary of State Antony Blinken is planning to visit Saudi Arabia, where he is expected to take part in the World Economic Forum in Riyadh starting on April 28, Axios reported, citing two unidentified U.S. officials and one Arab official.

Blinken is expected to meet with Saudi Crown Prince Mohammed bin Salman and other regional leaders while in Saudi Arabia, Axios reported.

The State Department was not immediately available for comment.

Last month, Blinken said the United States and Saudi Arabia have made “good progress” in talks on normalizing ties between the kingdom and Israel.

Talks on normalization had been put on ice in the immediate aftermath of the Oct. 7 attack by Palestinian Hamas fighters and Israel’s subsequent assault on Hamas-ruled Gaza.

Blinken’s Saudi visit will follow his trip to China that begins on Wednesday in Shanghai, where he will meet with business leaders. He then heads to Beijing on Friday for talks with his counterpart, Foreign Minister Wang Yi, and a likely meeting with President Xi Jinping.

Blinken’s trip to China comes as U.S.-China ties are on a steady footing but with a daunting array of unresolved issues threatening to tip the world’s two largest economies toward confrontation.

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Mexico annual headline inflation seen higher in early April- Reuters poll

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MEXICO CITY (Reuters) – Mexican headline inflation likely ticked up in the first half of April as core inflation eased, a Reuters poll showed on Tuesday, boosting expectations that Mexico’s central bank will hold its benchmark interest rate at its next monetary policy meeting.

A median forecast of 11 analysts predicts annual headline inflation of 4.48% for the first 15 days of the month, above the 4.37% recorded in the second half of March.

The closely watched core index, which strips out highly volatile energy and food prices, is seen falling to 4.39% in early April, which would be its lowest since May 2021.

Mexico’s headline inflation rate has sped up after bottoming out at 4.25% at the end of October and remains above the Bank of Mexico’s target of 3%, plus or minus a percentage point.

The Bank of Mexico lowered its benchmark rate in March by 25 basis points to 11.00%, but the bank’s governing board will likely hold it there for longer than markets expected, Deputy Governor Jonathan Heath told Reuters last week, calling for “more persistent” monetary policy amid sticky inflation and echoing other members of the board.

Compared to the previous two weeks, analysts estimated consumer prices actually fell 0.03%, while core inflation on the other hand sped up 0.16%, the poll showed.

A survey of economists conducted by Citibanamex this week showed that a large segment of the market expects the Bank of Mexico to hold the benchmark rate steady at its meeting in May.

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Mexico’s national statistics agency will publish official inflation data for the first half of April on Wednesday.

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