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...
European stock markets closed higher on Friday, as investors continued to assess the full scope of the European Union's trade deal with America and hopes rose for a U.S. interest rate cut in September. The pan-European Stoxx 600 provisionally closed 0.47% higher, with top sectors including mining, autos and travel. London's FTSE 100 closed at a record high for the fourth session in a row, adding another 0.13% on Friday to clinch its best weekly performance since May. U.K. stocks have found support this week from gains in mining, retail and defensive stocks, along with Purchasing Managers'...
US stocks rose slightly on Friday after a decline led by the technology sector this week as the market awaited Federal Reserve Chairman Powell's speech at the Jackson Hole Economic Symposium. The S&P 500 and Dow Jones Industrial Average rose more than 0.6%, while the Nasdaq 100 edged up only slightly. Powell is likely to reveal how the FOMC is balancing inflation risks with a slowing labor market, as downward revisions to payrolls data weighed on high producer prices and cost measures in the PMI. Technology stocks were the highlight of the corporate sector. Alphabet rose 1.5% after...
The Hang Seng Index rose 212 points, or 0.8%, to close at 25,317 on Friday (August 22nd), rebounding from the previous session's decline as mainland Chinese markets reached a decade-high on resurgent tech optimism. The Hang Seng Technology Index surged 2.7% after DeepSeek launched its upgraded AI V3 model on Thursday, boosted by domestic semiconductors as Beijing develops chip self-sufficiency. Consumer stocks also rose sharply on hopes of fresh stimulus from Beijing after signs of a slowdown in Chinese activity in July. Locally, Hong Kong's annual inflation fell to a four-year low of 1.0%...
European stocks traded flat to lower on Friday as investors turned cautious ahead of Fed Chair Jerome Powell's Jackson Hole speech and weighed the impact of the EU's new trade deal with the US. Under the pact, the EU pledged $750 billion in US energy spending and at least $600 billion in investment, securing a tariff cap of 15% instead of the threatened 30%. Pharmaceuticals, like other EU exports, will face the 15% levy. Meanwhile, revised data showed Germany's economy contracted more sharply in Q2, dragged by a weaker manufacturing sector after US firms front-loaded purchases earlier in...
The Nikkei 225 rose 0.05% to close at 42,633 on Friday, while the broader Topix Index gained 0.58% to 3,101, snapping a three-day losing streak as investors digested fresh inflation data. Japan's core CPI increased 3.1% year-on-year in July 2025, easing from 3.3% in June but surpassing market expectations of 3%. The figure remained well above the Bank of Japan's 2% target, reinforcing bets on a rate hike later this year. Market sentiment was also shaped by caution ahead of US Federal Reserve Chair Jerome Powell's Jackson Hole speech, with investors wary he may push back against...