The Hang Seng Index surged 540 points, or 2.2%, to close at 25,617 on Monday (September 1), its biggest one-day gain since August 13 and its second consecutive gain, driven by broad gains. Consumer stocks surged about 3%, followed by solid gains in the technology and property sectors.
Sentiment was boosted by upbeat August manufacturing PMI data in China from a private survey, which showed strong growth in new output and new orders. Meanwhile, mainland Chinese equities rose for a third session as abundant liquidity encouraged higher yields. Gains were partly capped by mixed US index futures, following reports that an Appeals Court ruled many of Trump's levies illegal but left them in place until at least mid-October.
Meanwhile, Wall Street will be closed today for a holiday. Alibaba shares surged 18.5% amid optimism about its cloud business. Pharmaceutical stocks also rallied, with strong gains from Innovent Biologics (8.2%), Wuxi Biologics (7.2%), and Sino Biopharma (6.2%), driven by faster drug approvals, optimistic guidance, and the prospects for AI-based biotechnology. (alg)
Source: Trading Economics
Following a four-month streak of gains, the Hong Kong stock market has continued its upward momentum into September. The Hang Seng Index opened strongly, climbing by 430 points or 1.71% to reach 25,50...
The Hang Seng Index rose 79 points, or 0.3%, to close at 25,078 on Friday (August 29th), snapping a three-day decline driven by gains in consumer and technology stocks. The index gained 1.2% in August...
Hong Kong stocks rose 191 points or 0.8% to 25,183 on Friday morning trade, rising for the first session in four after Wall Street's S&P 500 and Dow Jones closed at record highs overnight on stron...
The Hang Seng Index fell 203 points, or 0.8%, to close at 24,999 on Thursday (August 28th), extending its decline into a third session, weighed down by declines in consumer and technology stocks. The ...
Hong Kong shares dropped 256 points or 1.0% to 24,943 on Thursday morning deals, extending losses for the third session and hitting a one-week low amid declines in most sectors, notably consumers, tec...
Gold (XAU/USD) started the week on a positive note, extending its rally for the fifth consecutive day to reach its highest level in more than four months, last seen on April 22. A generally weaker US dollar (USD) and strong expectations for a Fed...
Silver prices (XAG/USD) strengthened, approaching their highest level since 2011. From a macro perspective, the rise was driven by strong expectations that the Fed will cut interest rates this month after PCE inflation data matched expectations,...
Oil prices rose more than 1% on Monday amid concerns over supply disruptions due to escalating Russian-Ukrainian airstrikes and a weakening dollar. Brent crude rose 83 cents, or 1.2%, to $68.31 a barrel at 12:15 GMT. U.S. West Texas Intermediate...
A U.S. appeals court ruled on Friday that most of President Donald Trump's global tariffs were illegal, finding he exceeded his authority when...
Indonesia's central bank will remain active in the foreign exchange market to stabilise the rupiah, it said on Friday, while the stock exchange...
US stocks fell in the afternoon trading as investors took profits following a strong week that saw the S&P 500 reach record highs, amid signs...
Asia-Pacific markets traded mixed Monday as investors assess China's RatingDog manufacturing data for August. The metric - which was previously...