South Korea Interest Rate Decision Due On Friday
(RTTNews) - The Bank of Korea will wrap up its monetary policy meeting on Friday and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The BoK is expected to keep its benchmark lending rate unchanged at 3.50 percent.
Japan will release September figures for its M2 money stock, with forecasts suggesting an increase of 1.5 percent on year - up from 1.3 percent in August.
Malaysia will see August figures for industrial production; in July, production was up 5.3 percent on year.
Finally, the markets in Hong Kong are closed on Friday for the Double Ninth Festival and will re-open on Monday.
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Sensex, Nifty Extend Gains For Third Day; Financials And Adani Group Stocks Outperform
Indian shares eked out modest gains on Thursday, with Adani Group stocks rallying following Hindenburg Research founder Nate Anderson's announcement to wind down his short-seller firm.
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CAC 40 Rises Nearly 2% As Luxury Stocks Rally
French stocks are up in positive territory Thursday morning, lifted by strong gains in the luxury sector after French luxury goods group's upbeat sales data. The mood is fairly bullish following benign U.S. inflation data that has raised hopes the Fed will announce a few interest rate cuts this year.
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DAX Pares Early Gains, Down Marginally On Weak Inflation Data
German stocks are down marginally Thursday morning, underperforming other major European markets, as investors make cautious moves while digesting the final data on the nation's consumer price inflation.
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European Shares Edge Higher As Inflation Worries Ease
European shares traded higher on Thursday as benign U.S. inflation readings kept the door open for potential rate cuts by the Federal Reserve this year. That said, regional gains were capped by weaker-than-expected U.K. GDP data released this morning.
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Asian Shares Follow Wall Street Higher On Fed Rate-cut Hopes
Asian stocks advanced on Thursday as soft inflation readings from the U.S. spurred expectations for more Fed rate cuts this year.
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Pound Slides Against Majors
The British pound weakened against other major currencies in the European session on Thursday.
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Quaker Oats Recalls Pearl Milling Original Pancake & Waffle Mix
Quaker Oats Co., affiliated to food and beverage giant PepsiCo, Inc., is recalling select Pearl Milling Co. Original Pancake & Waffle Mix distributed in 11 states, citing the possible presence of undeclared milk, a known allergen. According to the U.S. Food and Drug Administration, the recall involves a limited number of two pound boxes of Pearl Milling Original Pancake & Waffle Mix.
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European Economic News Preview: UK GDP Data Due
GDP monthly estimates and foreign trade from the UK and final inflation from Germany are due on Thursday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial production and foreign trade figures. Economists forecast the economy to grow 0.2 percent on month in November, in contrast to the 0.1 percent fall in October.
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