Following a four-month streak of gains, the Hong Kong stock market has continued its upward momentum into September. The Hang Seng Index opened strongly, climbing by 430 points or 1.71% to reach 25,508 points. Meanwhile, the Hang Seng China Enterprises Index rose by 136 points, equivalent to a 1.52% increase, settling at 9,084 points. The Technology Index also experienced a boost, gaining 117 points or 2.07% to stand at 5,792 points.
Technology stocks exhibited robust performance across the board. Tencent saw an increase of 1.4%, while Alibaba surged by an impressive 14.9% following its earnings report. Conversely, Meituan experienced a decline of 1.1%. Xiaomi Group climbed by 1.6%, JD Group rose by 2.2%, and Kuaishou added 1.3% to its value.
In the financial sector, stocks remained relatively stable. HSBC Holdings showed no significant movement, while AIA Group increased by 1.5%, China Ping An rose by 1.2%, and the Hong Kong Stock Exchange added 0.8% to its value.
Automotive stocks displayed mixed results. BYD saw a sharp decline of 8% following its earnings announcement, whereas Geely Automobile managed to rise by 1.4%. Xpeng Motors, however, faced a drop of 1.4%.
Source: DimsumDaily
The Hang Seng plunged 500 points or 1.9% to end at 26,572 on Friday, its sharpest one-day drop since mid-October, snapping a four-session gain. The slump followed a tumble on Wall Street Thursday as h...
The Hong Kong stock market opened sharply lower on Friday, immediately breaking its four-day uptrend. The Hang Seng Index fell 412 points, or around 1.52 percent, to 26,660. The greatest pressure came...
The Hang Seng Index rose for the fourth day, climbing 0.6%, or 150.3 to 27,073.03 in Hong Kong. The index advanced to the highest closing level since Oct. 3. Alibaba Group Holding Ltd. contributed th...
Hong Kong stocks fell on Thursday after hitting a one-month high, as investors opted to remain cautious ahead of the release of quarterly earnings reports from major tech companies, including Tencent ...
The Hang Seng rose 215 points or 0.8% to finish at 26,911 on Wednesday, increasing for the third consecutive session and reaching a one-month peak amid widespread gains across sectors. Sentiment stren...
Oil prices rose nearly 2% on Friday (November 14th), driven by supply concerns after the Black Sea port of Novorossiisk halted oil exports following a Ukrainian drone attack on an oil depot in Russia's key energy hub. Brent crude futures rose...
Gold fell as optimism that the Federal Reserve will cut interest rates next month was shaken by continued uncertainty over economic data, following the longest government shutdown in U.S. history. Expectations for a Fed rate cut declined as the...
US stocks moved lower on Friday, with the S&P 500 down 1% and the Nasdaq falling 1.6%, both hitting one-month lows, while the Dow Jones dropped about 400 points. The tech sector remained under heavy pressure as investors grew increasingly...
Fed increasingly fractured over Dec rate cut
Federal Reserve officials are growing increasingly fractured over whether to cut interest rates in...
The S&P 500 rose 0.3% and the Dow Jones Industrial Average jumped 630 points to a new record high, while the Nasdaq Composite Index fell 0.3% as...
Asia-Pacific markets mostly rose Thursday, following mixed trading on Wall Street as investors kept an eye on the U.S. government, which appeared...
European equities extended gains for a fourth consecutive session on Thursday, with both the STOXX 50 and the STOXX 600 rising nearly 0.2% to fresh...