(8 Nov 2024)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Hong Kong – 8 November 2024
1. Hong Kong Stock Exchange building exterior
2. SOUNDBITE (English) Francis Lun, CEO of Geo Securities: ++STARTS ON PREVIOUS SHOT; PARTLY OVERLAID WITH SHOTS 3-6++
"People are expecting major policies from the Peoples’ Congress, but so far we have heard nothing concrete yet, so the market is disappointed, and the Hong Kong market turned from positive to negative. So, I think that Jerome Powell’s move is the correct move. It will ease pressure on economies in east Asia. But then Jerome Powell also said, the pace of interest rate cut will slow in the next year, so I think next month is December, probably there will not be another interest rate cut, so we should be prepared for this."
3. Electronic display showing Hong Kong’s benchmark Hang Seng Index down
ASSOCIATED PRESS
Seoul, South Korea – 8 November 2024
4. Various of trading floor
ASSOCIATED PRESS
Tokyo, Japan – 8 November 2024
5. Various of display board showing stock trades
ASSOCIATED PRESS
Taipei, Taiwan – 8 November 2024
6. Various of index running on tickers in Taiwan Stocks Exchange Corporation
STORYLINE:
Asian shares opened higher but ended Friday mixed after the Federal Reserve cut interest rates again to ease pressure on the U.S. economy.
Oil prices fell while U.S. futures edged higher.
Markets in Hong Kong and Shanghai fell as investors awaited much-anticipated steps by Beijing to rev up the slowing Chinese economy following a meeting of the legislature’s Standing Committee
Hong Kong’s Hang Seng erased early gains, falling 0.7% to 20,802.88. The Shanghai Composite index dropped 0.3% to 3,462.71.
Japan’s Nikkei 225 index gained 0.3% to 39,498.21.
Shares in Japanese automaker Nissan Motor Corp. plummeted nearly early Friday, after the company on Thursday announced that it will dismiss 9,000 workers and slash its global production capacity by 20% due to falling sales and rising costs and inventory.
In South Korea, the Kospi shed 0.1% to 2,561.63, while Australia’s S&P/ASX 200 gained 0.8%, to 8,295.10.
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