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...
US stocks were higher on Wednesday, with the S&P 500 and Nasdaq each up 0.2%, while the Dow Jones gained 250 points to notch a new record high. Sentiment was buoyed by optimism that the government shutdown could soon end, as House members return to Washington to vote on a deal to restore funding to federal agencies after the shutdown that began on October 1st. Traders also focused on a fresh round of corporate updates, with shares of AMD surging more than 8% after the company forecast faster sales growth, lifting the broader tech sector. Nvidia (+0.7%), Broadcom (+1%), and Qualcomm...
The Hang Seng rose 215 points or 0.8% to finish at 26,911 on Wednesday, increasing for the third consecutive session and reaching a one-month peak amid widespread gains across sectors. Sentiment strengthened after China's central bank pledged to keep an "appropriately loose" monetary stance, ensure ample liquidity, and promote policy transmission. An uptick in U.S. futures also lifted risk appetite as the record-long U.S. government shutdown appeared close to ending. Property shares led the rise, jumping over 3%, following Beijing's plan to expand private sector participation in...
The Hang Seng rose 215 points or 0.8% to finish at 26,911 on Wednesday, increasing for the third consecutive session and reaching a one-month peak amid widespread gains across sectors. Sentiment strengthened after China's central bank pledged to keep an "appropriately loose" monetary stance, ensure ample liquidity, and promote policy transmission. An uptick in U.S. futures also lifted risk appetite as the record-long U.S. government shutdown appeared close to ending. Property shares led the rise, jumping over 3%, following Beijing's plan to expand private sector participation in...
European stocks were higher on Wednesday, with the STOXX 50 up 0.6% and the STOXX 600 rising 0.4%, extending gains from the previous two sessions to reach fresh record highs. Investor sentiment remained supported by optimism over an imminent US government reopening and rising expectations of additional Fed rate cuts, as traders continued to monitor corporate updates. Shares of Infineon Technologies jumped 2.2% after the company forecasts its revenue will return to growth in the 2026 fiscal year. RWE added 3.5% after reporting higher-than-expected profits for the first nine months of the...
Tokyo stocks rebounded on Wednesday, with the Nikkei 225 closing higher as overseas investors scooped up shares of companies with solid earnings such as TDK and Fujikura, helping the market recover from recent weakness. The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, rose 220.38 points, or 0.43 percent, to finish at 51,063.31. After a period of adjustment earlier this month, investors turned optimistic toward companies reporting strong results late in the earnings season. A weaker yen also buoyed export-oriented issues. In foreign exchange trading, the yen briefly...