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...
Stocks fell Tuesday, pressured by declines in artificial intelligence-related names like Palantir as investors grow increasingly concerned about valuations in the bull market-leading shares. The Dow Jones Industrial Average lost 410 points, or 0.9%. The S&P 500 dipped 1.2%, while the Nasdaq Composite lost 1.6%. Palantir shares shed 6.8% even as the software company beat Wall Street's estimates for the third quarter and gave strong guidance, fueled by growth in its artificial intelligence business. Palantir sees $1.33 billion in revenue for the current period, higher than the $1.19...
The Hang Seng index slumped 206 points, or 0.8%, to close at 25,952 on Tuesday, losing early gains as sentiment soured amid a broad sectoral decline. The technology index fell 1.8% after US President Trump said Nvidia would be banned from selling its most advanced AI chips to China, although it would allow some sales to Beijing. Traders largely shrugged off reports that China was raising subsidies, cutting energy bills for major data centers. Consumer and property stocks also weakened, following declines in mainland China as US index futures plunged on uncertainty over the Fed's interest...
European stocks opened in negative territory on Tuesday (November 4), reversing the positive sentiment seen at the start of the new trading month. The pan-European Stoxx 600 index was trading more than 1.1% lower at 8:05 a.m. (3:05 a.m. ET). The UK's FTSE 500 index opened nearly 0.7% lower, while Germany's DAX fell 1.5%, France's CAC 40 fell 1.4%, and Italy's FTSE MIB fell 1.1%. European stocks opened the new trading week—and the month—on a positive note ahead of a busy week of central bank decisions and earnings reports; on Tuesday, we'll get third-quarter results from BP, Philips,...
Japanese stocks closed lower on Tuesday, with the Nikkei Index falling 1.7% to 51,497.20 and the Topix Index down 0.7% to 3,310.14. Profit-taking in previously outperforming stocks, particularly those related to the artificial intelligence (AI) sector, was the main factor in the decline. SoftBank Group and Advantest both fell more than 5% after posting sharp gains this year. "Stocks have been rising very quickly, so it's not surprising that we're seeing repositioning," said Hiroshi Namioka, chief strategist at T&D Asset Management. The strengthening yen against the dollar also put...
Hong Kong stocks rose 55 points, or 0.2%, to 26,210 in early trading on Tuesday (November 4), posting a second consecutive session of gains. Market sentiment was boosted by positive comments from Chief Executive John Lee, who revealed that Hong Kong had recorded 80 initial public offerings (IPOs) in the first ten months of 2025, underscoring the strength of the city's capital market. Furthermore, Chinese Vice President He Lifeng expressed hope for increased economic and financial cooperation between Hong Kong and mainland China, further strengthening Hong Kong's position as a global...