The Hang Seng jumped 196 points, or 1.0%, to close at 19,746 on Tuesday, recovering from morning losses after China's central bank pledged to adopt supportive policies next year and ease financing costs for businesses and households. Governor Pan Gongsheng also said he intends to continue reforming the PBoC's monetary policy framework and expand its policy tools. The index closed higher for a third straight session, with positive sentiment buoyed by a Bloomberg News report that China's top leaders are scheduled to begin their annual closed-door Central Economic Work Conference next...
Wall Street opened a touch lower on Tuesday after the S&P 500 and the Nasdaq notched record high levels in the last session, with focus on a crucial jobs report later this week along with more data and commentary from Federal Reserve officials. The Dow Jones Industrial Average fell 12.4 points, or 0.03%, at the open to 44769.58. The S&P 500 fell 4.2 points, or 0.07%, at the open to 6042.97, while the Nasdaq Composite dropped 39.6 points, or 0.20%, to 19364.343 at the opening bell. Source: Reuters
European stocks rose on Tuesday, with the Stoxx 50 and Stoxx 600 climbing 0.5% and 0.6%, respectively, to reach a one-month high, driven by a 1.6% rise in retail stocks and over 1% gains in construction and materials. However, insurance stocks fell by 0.4%. In France, political tensions are high as Prime Minister Michel Barnier used special constitutional powers to pass a controversial budget, prompting opposition parties to push for a no-confidence vote that could happen Wednesday. Despite this, France's CAC 40 closed 0.3% higher, trimming earlier gains, while Germany's DAX crossed the...