The Hang Seng Index plunged 323 points, or 1.3%, to close at 25,202 on Wednesday (August 27), reversing early gains and marking a second day of declines as selling swept across sectors. Sentiment worsened after several Chinese brokerages and asset managers reportedly reduced financing and limited purchases amid growing risks from the recent surge in Chinese stocks. Trading volume on Chinese stock exchanges reached CNY 3.1 trillion on Tuesday, the second-highest in history. Investors also grew cautious ahead of Nvidia's earnings release today and Friday's PCE index. Data-wise, China's...
US stocks were relatively close to the flatline on Wednesday, extending the tight range of trading this week to remain close to record highs as markets positioned for the release of Nvidia's results after today's closing bell, a bellwether for global artificial intelligence demand and confidence. The three main indices were close to the flatline. Nvidia was flat as it is expected to report a 37% growth in earnings in its second financial quarter, but markets will also scrutinize CEO Huang's rhetoric on the outlook of AI revenues after markets showed concerns of frothiness in tech stocks, in...
Europe's STOXX 600 recovered slightly on Wednesday after a selloff in the previous session, as investors eyed political risks in France and awaited earnings from artificial intelligence chip leader Nvidia. The pan-European STOXX 600 index closed up 0.1%, a day after registering its largest drop in nearly a month. Most other regional bourses, however, closed in the red. France's CAC 40 bounced back 0.4% from a three-week low hit in the previous session's selloff sparked by concerns over a potential collapse of Prime Minister Francois Bayrou's government next month. Three main opposition...