Most Asian stocks moved in a flat-to-low range on Thursday as a rally on the back of Donald Trump winning the 2024 U.S. election now cooled, with focus turning to more stimulus measures in China and an upcoming Federal Reserve meeting.
Oil prices edged up on Thursday following a sell-off triggered by the U.S. presidential election, as risks to oil supply from a Trump presidency and a hurricane building in the Gulf Coast outweighed a stronger U.S. dollar and higher inventories.
The dollar hovered off a four-month high on Thursday as the market continued to digest Republican Donald Trump's win in the U.S. presidential election, while investors eyed several central bank decisions that will be topped off by the Federal Reserve.
Most Asian stocks advanced on Wednesday, tracking overnight strength in Wall Street, while Chinese markets were volatile as early vote counting showed Donald Trump leading in the 2024 presidential elections.
Oil prices fell in Asian trade on Wednesday after industry data showed a bigger than expected build in U.S. inventories, while focus remained on potential supply disruptions due to a hurricane in the Gulf of Mexico.
The dollar rallied broadly on Wednesday and bitcoin jumped to an all-time high as investors returned to so-called "Trump trades" with initial results trickling in for an extremely close U.S. presidential election.