The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to reduce risk in large cap stocks. Among the index's contributors, Tencent was a major drag, with its shares falling by around 2.3%, putting pressure on the technology sector, which has recently been a driving force behind market gains. Weakness in large cap companies like this typically quickly impacts sentiment due to their significant weighting in...
The Dow Jones Industrial Average (DJIA) fumbled on Tuesday, losing enough ground to knock the megacap index back below the previous week's close, but still holding onto near-term consolidation levels. US Consumer Price Index (CPI) inflation showed price pressures are still on the wrong side of Federal Reserve (Fed) targets, knocking investor hopes for a summer rate cut even further back. US CPI inflation rose through the tail end of the second quarter. Despite the figures mostly keeping in line with or beating median forecasts, investors are still feeling the pressure from rising price...
European stocks erased early gains and closed mostly lower on Tuesday as markets continued to assess how potential tariffs from the US may hurt European businesses. The STOXX 50 closed 0.3% lower at 5,358 and the STOXX 600 fell 0.4% to close at 545. US President Trump had previously announced a 30% tariff on imports from the European Union starting August 1st, prompting the bloc to continue to seek a trade agreement. EU officials recently stated that a deal is still being negotiated to avoid tariffs, but a retaliation package is being prepared regardless, which may tariff up to€72 billion...
The S&P 500 rose 0.4% and the Nasdaq rallied 0.8% on Tuesday (July 15), while the Dow Jones Industrial Average hovered around the flatline, as the latest CPI report reinforced speculation that the Fed has room to cut interest rates this year. Headline inflation rose in line with forecasts, both annually and monthly. However, core inflation came in lower than expected for both measures, suggesting that underlying price pressures, particularly those related to recently imposed tariffs, remain contained for now. Meanwhile, Nvidia shares jumped nearly 5% after the company announced plans...
The Hang Seng Index surged 387 points, or 1.6%, to close at 24,590 on Tuesday (July 15), rising for a fourth straight session and reaching its highest level in nearly four months. The index rebounded from an initial decline as all sectors advanced, led by strong performance in technology and consumer stocks. The technology index surged 2.8%, driven by solid gains in Kuaishou Technology (3.8%), Meituan (3.5%), and Tencent Holdings (2.3%), after Nvidia expressed hope of soon resuming sales of its H20 general-purpose chip to China. Consumer, property, and financial stocks also rose, as...
European stocks edged higher on Tuesday, with the STOXX 50 up 0.3% and the STOXX 600 gaining 0.1%, as markets attempted to recover from modest losses in the previous session. Trade developments remained in focus, with investors closely monitoring potential deals that could ease tariff pressures. US President Trump announced a 30% tariff on imports from the European Union starting August 1st, prompting the bloc to continue to seek a trade agreement. Gains were seen in the autos and tech sectors, while telecom stocks declined. Corporate earnings were also in the spotlight. Shares of Ericsson...