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...
A rally in the world's largest tech companies drove stocks higher as bonds rebounded after weak jobs data validated wagers the Federal Reserve will resume cutting rates in September. Equities extended gains and bond yields fell after data showed US job openings fell in July to the lowest in 10 months, reinforcing bets on at least two Fed reductions in 2025. Following a two-day slide, the S&P 500 also gained amid a court victory for Big Tech that saw Alphabet Inc. surging 8% as Google dodged a sale of its Chrome web...
The Hang Seng Index fell 153 points, or 0.6%, to close at 25,343 on Wednesday (September 3), weakening for a second day as global equities weakened on growing concerns over fiscal pressures worldwide. Meanwhile, Dow Jones futures were seen weakening, pressured by a sixth consecutive monthly decline in the US manufacturing sector. Adding to the uncertainty, a divided US appeals court ruled most of President Trump's tariffs illegal, though the measures will remain in place until October 14 pending a possible appeal to the Supreme Court. All sectors traded in the red after a military parade in...
European stocks traded higher on Wednesday, with the STOXX 50 up 0.7% and the STOXX 600 gaining 0.4%, rebounding after a 1.4% drop in the previous session. On Tuesday, equities retreated as concerns over debt sustainability in major economies pushed bond yields sharply higher, with the UK market under the greatest strain. Large-cap stocks mostly advanced, led by SAP (+1.6%), LVMH (+1.5%), ASML Holding (+2.1%), Hermès International (+0.5%) and Novartis (+0.5%). In contrast, Swiss Life fell about 2% after reporting a weaker first-half net profit, while M&G slipped 2.5% after posting a...
The Nikkei 225 Index dropped 0.88% to 41,939 while the broader Topix Index slid 1.07% to 3,049 on Wednesday, reversing prior gains and tracking Wall Street's losses. US stocks tumbled overnight as rising global bond yields, persistent economic uncertainty and renewed trade tensions pressured sentiment. Domestically, Bank of Japan Governor Kazuo Ueda reaffirmed Wednesday that the bank's stance on rate hikes remains unchanged if growth and inflation evolve as expected. Investors now look to upcoming Japanese wage data later this week for guidance on the policy path. Index heavyweights led...
The Hang Seng Index has opened positively, gaining 164 points or 0.64%, reaching 25,660 points. The National Enterprises Index rose by 65 points, equivalent to a 0.71% increase, now standing at 9,173 points, while the Technology Index climbed 56 points, or 0.99%, to 5,785 points. Technology stocks showed strong performance, with Tencent rising by 1%, Alibaba increasing by 1.3%, and Meituan slightly down by 0.1%. Xiaomi Group saw a rise of 1.9%, JD.com surged by 2.6%, and Kuaishou gained 0.7%. In the financial sector, stocks exhibited mixed results; HSBC Holdings fell by 0.1%, while AIA...