The Hang Seng Index weakened 1.2% to close at 26,559.95 in Hong Kong trading on Friday (February 6). This decline brought the Hang Seng Index to its lowest closing level since January 20, after a slight 0.1% gain the previous day a sign that the market was losing steam and entering a correction phase. Selling pressure was evident from the start of the session, with investors tending to reduce exposure to riskier assets. While no single factor was dominant, today's movement patterns suggest the market is resetting after the rally, particularly in large stocks that have been the index's...
Japanese stocks rose sharply in Tokyo after Prime Minister Sanae Takaichi's victory in Sunday's election fueled expectations of increased government spending. This optimism immediately lifted the Nikkei 225 index to a new record, while the Topix index also reached its highest peak. In morning trading, the Nikkei rose around 4% and the Topix rose more than 2%. The gains were led by the electronics and banking sectors, as investors sought stocks considered most likely to benefit from the government's spending on industrial strategies such as government spending and AI. Takaichi's ruling...
Hong Kong stocks surged on Monday morning. The Hang Seng Index rose 488 points, or around 1.8%, to 27,051, rebounding after weakening in the previous session. Sentiment was also lifted by Wall Street. Friday's rally pushed the Dow Jones Industrial Average past 50,000 for the first time, providing a tailwind for Asian markets. Investors also began to focus more on US growth prospects and the possibility of a Fed interest rate cut, rather than worrying too much about AI spending. Locally, there was some upbeat news: Hong Kong's foreign exchange reserves reportedly reached a three year...