Photo by Alesia Kozik
On Friday, November 15, 2024, Asian stock markets showed mostly positive movements amid a backdrop of fluctuating U.S. equities following Donald Trump’s recent election victory. The Nikkei 225 in Tokyo rose by 0.8% to reach 38,842.13 as the yen continued its downward trend against the U.S. dollar, benefiting exporters. Notably, shares of Nissan Motor Co. surged by 4.7% during morning trading.
Japan’s economy demonstrated resilience, expanding at an annual rate of 0.9% for the July-September period, surpassing the previous quarter’s growth of 0.5%. This growth occurred despite the Bank of Japan’s (BOJ) decision to raise its benchmark interest rate from 0.1% to 0.25% in July. The BOJ indicated plans to further increase rates, potentially targeting 1% in the latter half of the upcoming fiscal year, contingent upon economic activity and pricing developments.
The Hang Seng index in Hong Kong gained 0.3%, closing at 19,486.97, while the Shanghai Composite index fell by 0.4% to 3,367.94 after a report revealed that retail sales in China grew by 4.8% year-over-year in October, exceeding forecasts.
Market analysts noted that Trump’s election win has led to significant volatility in Asian markets as investors adjust expectations regarding U.S. economic policies under his administration.
As the market digests these developments, smaller companies have faced steeper losses compared to larger firms, with the Russell 2000 index of small-cap stocks declining by 1.4%. This shift reflects a broader market sentiment that initially favored domestically-focused companies post-election but has since cooled.
In summary, while Asian markets reacted positively to Trump’s electoral success, ongoing fluctuations and economic indicators continue to shape investor sentiment across the region.
For further details and direct quotes, refer to the original articles from AP News [2] and other sources [3][4].
Sources:
[1] https://finance.yahoo.com/news/yen-weakens-japan-stocks-gain-005003463.html
[2] https://apnews.com/article/stocks-markets-rates-japan-trump-6040f0d5d509906da53dc41219a17e78
[3] https://www.washingtonpost.com/business/2024/11/15/stocks-markets-rates-japan-trump/9b73ea48-a310-11ef-be87-1106a06524c6_story.html
[4] https://abcnews.go.com/US/wireStory/stock-market-today-asian-stocks-climb-after-wall-115887885
[5] https://abcnews.go.com/US/wireStory/stock-market-today-asian-stocks-dip-wall-street-115801482
[6] https://www.capitaleconomics.com/podcast/weekly-briefing-podcast/trump-trade-wars-stock-market-bubbles-japans-market-comeback-and
[7] https://www.reuters.com/markets/us/investors-circle-trump-trades-global-market-victims-2024-11-15/
[8] https://asia.nikkei.com/Business/Markets/Equities/Fear-of-Trump-tariffs-jolts-Japan-s-stock-market
[9] https://www.reuters.com/markets/asia/trump-victory-heightens-risks-boj-yen-renews-slide-2024-11-07/
[10] https://economictimes.com/markets/stocks/news/japan-leads-gain-in-asian-stocks-after-trumps-win/articleshow/115035185.cms
[11] https://www.japantimes.co.jp/business/2024/11/06/markets/trump-victory-markets/
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