The Hang Seng Index closed almost flat at 20,096 on Friday (12/27) after rising in the previous two sessions, with gains in the technology, property and consumer discretionary sectors offsetting losses in the financial sector. Traders digested a report that the World Bank raised its forecast for China's economic growth to 4.9% in 2024 and 4.5% in 2025 but warned of challenges such as weak demand, weak consumer sentiment and high local government debt.
Meanwhile, the latest data showed that China's industrial profits fell 4.7% year-on-year in the first 11 months of this year, sharply higher than the 4.3% decline in the previous period, due to a decline in profits from both public and private companies. Separately, China revised its 2023 GDP down by 2.7% to CNY129.4 trillion, without providing details. On Wall Street, trading was subdued on Thursday due to the holiday mood. Still, the index rose 1.9% on the week, boosted by expectations of strong fiscal spending in China in 2025. Lenovo Group (9.2%) and Li Auto (6.0%) rose, while Nongfu Spring (-4.0%) and Haidilao Intl. (-3.4%) fell.
Source: Trading Economics
Hong Kong equities advanced on Friday as investors welcomed fresh policy signals from China's Central Economic Work Conference aimed at strengthening the domestic economy. The Hang Seng Index gained ...
Hong Kong stocks rose around 272 points, or 1.1%, to 25,806 at the start of trading on Friday, after a slight correction in the previous session. This increase occurred across nearly all sectors, indi...
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...
The US dollar remains sluggish after experiencing intense pressure following the Fed's decision to cut interest rates by 25 bps. The US Dollar Index (DXY) remains in the lower zone and is trending lower weekly, as market participants assess the...
Gold (XAU/USD) advances modestly on Friday as traders seem to book profits ahead of the weekend, yet clings to gains of over 0.51% after reaching a seven-week high of $4,353 as traders digest comments from Federal Reserve (Fed) officials. Bullion...
US stocks closed sharply lower on Friday as a Broadcom-led rout among the largest tech weights sparked a rotation into cyclicals and defensive names. The S&P 500 fell 1% and the Dow gave back 0.4% after touching record highs, while the Nasdaq...
Both the STOXX 50 and the STOXX 600 slipped 0.2% on Thursday, marking a third straight session of losses for the former.
Weak sales and profit...
US President Donald Trump said Washington is willing to provide security assistance to Ukraine as part of a deal to end the war with Russia. He...
The number of US citizens submitting new applications for unemployment insurance went up to 236K for the week ending December 6, according to a...
US stocks closed sharply lower on Friday as a Broadcom-led rout among the largest tech weights sparked a rotation into cyclicals and defensive...