{"id":76770,"date":"2023-10-25T18:10:23","date_gmt":"2023-10-25T22:10:23","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/nikkei-and-asx-200-see-modest-gains-amid-easing-us-recession-fears\/"},"modified":"2023-10-25T18:10:31","modified_gmt":"2023-10-25T22:10:31","slug":"nikkei-and-asx-200-see-modest-gains-amid-easing-us-recession-fears","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=76770","title":{"rendered":"Nikkei and ASX 200 see modest gains amid easing US recession fears"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

The and indices registered modest gains on Tuesday, October 24, 2023, as easing US economic recession fears and a pullback in 10-year US Treasury yields from a high of 5.021% bolstered market sentiment. Despite concerns over yield spikes, Middle East conflict, weaker Purchasing Managers Index (PMI) figures from Australia and Japan, and a negative impact on tech stocks, these factors did not significantly impact the two indices.<\/p>\n

Corporate earnings from Alphabet (NASDAQ:), Coca-Cola (NYSE:), General Electric <\/span><\/span> (NYSE:), General Motors (NYSE:), Microsoft (NASDAQ:), and Visa (NYSE:) set a positive tone for Wednesday’s session. Additionally, the release of Australian inflation figures for Q3 could potentially influence Reserve Bank of Australia’s rate hike expectations.<\/p>\n

The ASX 200 gained 0.19% on Tuesday. Despite a drop in tech stocks by 0.44%, mining stocks steadied after Monday’s sell-off with Fortescue Metals Group (OTC:) rallying by 2.59%. The big four banks had a mixed session.<\/p>\n

On the other hand, the Nikkei gained by 0.20%. While bank stocks saw more losses, SoftBank (TYO:) Group Corp. and Fast Retailing Co registered gains of 1.68% and 1.74% respectively.<\/p>\n

In contrast to the positive performance of the Nikkei and ASX 200, the ended negatively on Tuesday, falling by 1.05%. Major tech companies Alibaba <\/span><\/span> (NYSE:) Group Holding Ltd and Tencent Holdings (OTC:) Ltd slid by 1.66% and 2.08% respectively, while bank stocks also ended negatively.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. The and indices registered modest gains on Tuesday, October 24, 2023, as easing US economic recession fears and a pullback in 10-year US Treasury yields from a high of 5.021% bolstered market sentiment. Despite concerns over yield spikes, Middle East conflict, weaker Purchasing Managers Index (PMI) figures from Australia and Japan, and a […]<\/p>\n","protected":false},"author":1,"featured_media":5160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-76770","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nNikkei and ASX 200 see modest gains amid easing US recession fears | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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