The Hang Seng Index opened lower by 63 points, or 0.24%, to 25,718, followed by the H-Share Index, which fell 0.34%, and the Technology Index, which fell 0.67%. This decline was driven by the decline in major technology stocks such as Tencent, Meituan, Xiaomi, JD.com, and Kuaishou, which all fell between 0.4% and 1%. Alibaba was the only major stock in this sector to remain stable. In the financial sector, stock movements were more mixed. HSBC Holdings and AIA Group recorded small gains of 0.1% and 0.2%, respectively, while Ping An and the Hong Kong Stock Exchange weakened slightly....
Japanese stocks weakened on Thursday as new Prime Minister Sanae Takaichi prepared for challenging, major budget negotiations. The Nikkei 225 index fell 0.24%, or 94.09 points, to close at 38,814.56. The pressure arises as Japan must balance Takaichi's fiscal stimulus plan with its $550 billion investment obligation to the United States under the tariff agreement reached by her predecessor. If the funds are not disbursed before US President Donald Trump's term ends in January 2029, tariffs on Japanese goods could surge above 15%. To reduce the fiscal burden, Takaichi plans to partner with...
European stocks rallied on Thursday, driven by the energy sector and mixed results from major companies. The Stoxx Europe 600 Index rose 0.2% in early London trading, with energy stocks leading the gains after Brent oil prices jumped 4%. This surge came after the United States imposed sanctions on two Russian oil giants, Rosneft and Lukoil, for their perceived lack of commitment to peace in Ukraine. On the corporate side, Nokia surged 11% thanks to strong demand for its cloud and artificial intelligence services, while Volvo Cars soared 23% after posting above-expected profits. Conversely,...