Hong Kong stocks fell, halting a three-day advance, as traders shunned riskier assets before a tight US presidential election race. Investors are concerned about the possible implications on global trade and financial markets.
The Hang Seng Index dropped 1.4 per cent to 20,722.71 at 9.45am local time, after rallying 3.4 per cent since Friday. The Tech Index slipped 1.3 per cent. The CSI 300 Index of onshore stocks climbed 0.1 per cent to approach a three-week high, while the Shanghai Composite Index added 0.1 per cent.
E-commerce platform operator Alibaba Group retreated 2.4 per cent to HK$96, while peer JD.com tumbled 3.5 per cent to HK$153. Tencent weakened 1.2 per cent to HK$422.60 and Haier Smart Home declined 3.4 per cent to HK$28.05. Ping An Insurance Group fell 1.9 per cent to HK$49.25, leading losses among financial services groups.
Limiting losses, Chinese electric-vehicle makers extended gains amid robust domestic sales. Xpeng surged 4 per cent to HK$51.70 and Li Auto added 0.8 per cent to HK$99.10. Auto distributor Zhongsheng Holdings advanced 2.9 per cent to HK$12.24.
Investors are waiting for the US election outcome, with Vice-President Kamala Harris and former president Donald Trump locked in a coin-toss race and results may take days. Analysts are concerned about potential tariffs on Chinese exports, among others, depending on who will succeed President Joe Biden.
Source : scmp.com
The Hang Seng edged down to finish at 25,530 on Thursday, reversing early gains amid declines in tech and consumer stocks. Sentiment weakened as Chinese markets fell for a third consecutive session a...
Hong Kong stocks rose around 201 points (0.8%) to 25,733 in Thursday's morning session, extending their gains for a second day. This rise was driven by positive sentiment from Wall Street after the Fe...
The Hang Seng rose 106 points or 0.4% to close at 25,541 on Wednesday, rebounding from morning losses and closing in the green for the first time in three sessions as most sectors gained. Sentiment i...
Hong Kong's Hang Seng Index weakened again for the third consecutive day on Wednesday, falling 0.5% to 25,382.56 in the morning session. Sentiment was weighed down by investor concerns as they awaited...
The Hang Seng Index plunged 331 points, or 1.3%, to close at a two-week low of 25,434 on Tuesday (December 9), extending its decline for a second session amid broad sector weakness. Investors were ne...
European shares closed higher on Thursday after a series of lukewarm sessions, as investors welcomed the U.S. Federal Reserve's overnight interest rate cut and assessed a policy decision from the Swiss National Bank. The pan-European STOXX 600...
Silver climbed above $61 per ounce, extending a record rally as markets digested the Fed's 25 basis point cut and parsed Chair Powell's remarks which markets read as relatively dovish even as committee guidance remained cautious. The cut itself...
Gold prices surged tonight due to a combination of dovish sentiment from the Fed and market concerns about the future economic outlook. Following the interest rate cut and signals that the Fed is no longer aggressive about raising interest rates,...
The Job Openings and Labor Turnover Survey (JOLTS) will be released on Tuesday by the U.S. Bureau of Labor Statistics. Due to the prolonged...
The latest survey data from the US Bureau of Labor Statistics has reported an increase in JOLTs Job Openings, a key indicator of the health of the...
European stocks edged higher on Tuesday (December 9th) as global investors awaited the US Federal Reserve's monetary policy update.
The...
White House economic adviser Kevin Hassett said Tuesday there is "plenty of room" to cut interest rates further, though he noted that rising...