International equities are expected to outperform as tariff risks diminish, with a focus on US and emerging markets due to strong earnings, while European equities remain underweighted. The outcome of the US elections could significantly impact asset classes, with a Trump victory likely boosting US equities but increasing trade uncertainty, while a Harris win may favor emerging markets. Investors are advised to hedge against potential tariff increases and remain cautious amid rising yields and economic uncertainties.
UBS Asset Management maintains an overweight stance on global equities, particularly in the US and emerging markets, citing strong earnings potential despite high valuations. The firm is bullish on the JPY due to anticipated Bank of Japan tightening, while underweighting the CHF and European equities due to economic challenges. Emerging currencies show a mixed outlook, favoring BRL and ZAR for their carry potential, while cautioning against tariff risks impacting AXJ.
Donald Trump has been re-elected as the 47th President of the United States, with Republicans projected to regain control of the Senate. The election outcome is expected to influence fiscal policy, including potential tax cuts and tariffs, while raising concerns about trade relations, particularly with China. The Federal Reserve may adjust its policy stance in response to these developments, and geopolitical tensions are likely to escalate under Trump's administration.
Toyota reported a 20% drop in operating profit to 1.16 trillion yen in Q3 2024, marking its first decline in two years due to production challenges and market issues in Japan and the U.S. The company faces intensified competition from Chinese brands, impacting its margins and market share.In response, Toyota plans to reduce incentives and improve production, with a revised annual forecast of 10.85 million vehicles. Despite these challenges, it maintained its full-year profit outlook at 4.3 trillion yen, which positively influenced its stock performance.
The anticipated victory of Donald Trump in the US presidential election has led to a significant rally in the US dollar, causing the EUR/USD pair to drop nearly 2% and GBP/USD to face resistance at $1.2908. Meanwhile, USD/JPY is targeting the early June high of ¥154.56, having rebounded from support at ¥151.54.
Seven & i Holdings Co. plans to reduce its stake in Seven Bank Ltd. to 38% as part of a strategic overhaul amid a takeover approach from Canada's Alimentation Couche-Tard Inc. The move could generate approximately ¥30 billion ($195 million) by the end of the current fiscal year in February.
With Donald Trump poised to win the 2024 election, financial markets are reacting strongly. Bitcoin has reached an all-time high, while the US dollar and stock indices surged over 1%, driven by expectations of inflationary policies and a crypto-friendly regulatory environment under Trump. Treasury yields have also spiked, with the 10-year yield hitting 4.47%, reflecting market volatility and positioning ahead of potential policy shifts.
As the US elections unfold, markets are reacting to expectations of a Trump victory, with Treasury yields and the US dollar rising sharply. Small-cap equities are benefiting from Trump's policies, while the dollar index gains momentum, reversing previous losses. Conversely, the Hang Seng Index has dropped significantly, reflecting concerns over Trump's protectionist measures impacting trade, particularly with China.
Markets are reacting positively to the prospect of a Republican sweep, with Trump leading in the electoral college. Anticipated policies include significant tariffs on imports and fiscal expansion, contributing to a surge in Treasury yields and a record high for bitcoin at $75,080. US equity futures are also up, while the dollar index reaches a four-month peak, indicating strong market momentum.
Trump's victory has led to significant gains in the stock markets, with the SMI and UBS reaching highs, while Tesla shares saw double-digit increases. Technology stocks thrived, particularly Advantest, which rose 6.3%, boosting the Nikkei. In contrast, Toyota Motor fell 0.68% ahead of its financial results, while Nintendo shares climbed 4.3% after announcing compatibility of Switch games with its upcoming console, despite a lowered profit forecast.
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