The Hang Seng Index rose for the third day, climbing 1.6%, or 431.56 to 27,287.12 in Hong Kong. The index advanced to the highest closing level in at least a year. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 3.5%. Semiconductor Manufacturing International Corp. had the largest increase, rising 12.7%. Today, 60 of 88 shares rose, while 25 fell; 3 of 4 sectors were higher, led by commerce and industry stocks. Source: Bloomberg.com
The S&P 500 rose 0.3% to a fresh record high on Thursday, while the Nasdaq gained 0.6% and the Dow Jones hovered near the flatline. Investors kept a cautious eye on the ongoing US government shutdown, though markets largely shrugged off concerns, awaiting further developments and hoping the stalemate proves short-lived. Technology led sector gains after OpenAI raised $6.6 billion in a share sale valuing the company at $500 billion and announced an agreement with South Korean chipmakers. Industrials, energy and consumer discretionary stocks also advanced, while real estate lagged. Among...
The Nasdaq marked a record closing high on Thursday with support from the technology sector while the benchmark S&P 500 barely managed to notch a record close as investors cautiously monitored private labor market data in the second day of a U.S. government shutdown. The benchmark index's valuation was around its highest level since 2020, with help from heavyweight technology companies including AI chip leader Nvidia and Broadcom. With no official government data available because of the shutdown, investors were monitoring information from other sources. A report from global...