The Hang Seng Index got off to a rough start on Monday, hitting a new low for November on disappointment over stimulus measures released from China's briefing before the weekend.
Hong Kong equities will of course be watching for any China-related headlines that President-elect Trump is likely to deliver. Also, this week will see earnings from the Hang Seng Index's two largest companies — Tencent topping the charts on Wednesday and Alibaba following on Friday.
Tencent's previous earnings report comfortably beat estimates, which helped boost the HSI at the time. Although the gauge fell back down until China began announcing stimulus measures in September. Alibaba's recent history, on the other hand, has been patchy, with earnings coming in below estimates in two of its last four reports. Although the extended Singles' Day shopping festival could provide a boost to the company's customer management earnings, Bloomberg Intelligence notes.
In the meantime, equity traders will be turning their attention to October's low of 19,977 as a key point for equity investors to give up.
Source: Bloomberg
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...
Hong Kong stocks opened lower on Tuesday, with the Hang Seng Index falling around 196 points, or 0.8%, to 25,565, extending its decline for a second session. Sentiment was weighed down by concerns tha...
The Hang Seng Index plunged 320 points, or 1.2%, to close at 25,765 on Monday (December 8), reversing gains from the previous two sessions as most sectors weakened, particularly the financial, propert...
Gold prices soared immediately after the Federal Reserve announced its interest rate decision. As soon as the FOMC minutes were released, gold, which had been moving cautiously since the beginning of the session, suddenly rose sharply as the market...
Federal Reserve Chairman Jerome Powell attributed the surge in inflation above the 2% target to the import tariffs imposed by President Donald Trump. In a press conference following the FOMC meeting, Powell explained that much of the current...
The Federal Reserve on Wednesday said that it would start buying short-dated government bonds to help manage market liquidity levels to ensure the central bank retains firm control over its interest rate target system. The technically oriented...
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...
Asian stock markets started the week cautiously. The MSCI Asia Index fell slightly by 0.1%, in line with weakening US index futures. Australia also...
European stocks weakened at the opening bell on Monday (December 8th) as global investors focused on this week's US Federal Reserve monetary policy...