Hong Kong's stock market rebounded after a one-day hiatus. Signs of stabilization in the property sector and gains in technology stocks boosted positive sentiment. As of 9:55 a.m. local time, the Hang Seng Index rose 1.3% to 27,191.99, and Hang Seng Tech rose 2.2%.
Tech stocks led the way: Kuaishou surged 8%, Baidu and Alibaba both rose 3.7%, JD.com rose 2.5%, Tencent added 2.1%, Meituan 1.8%, and Xiaomi 1.9% after reporting deliveries of over 40,000 cars in September. Meanwhile, Trip.com fell 1.9%, Pop Mart 1.5%, Li Auto 0.7%, and Anta Sports 1.2%. Mainland Chinese markets were closed until October 8th for National Day and the Mid-Autumn Festival.
On the property front, sales of China's 100 largest developers edged up 0.4% in September to 252.8 billion yuan, reversing a 17.6% decline in August. This slight increase comes after nearly three years of policy support, including the recent easing of purchasing rules in Beijing and Shanghai.
Positive sentiment was also evident elsewhere in Asia: Japan's Nikkei 225 rose 0.6%, Australia's S&P/ASX 200 rose 1.3%, and South Korea's Kospi surged 3.1%. Overall, good news from the property sector and a rally in technology stocks were the main drivers of the region's market rally.
Source: Newsmaker.id
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...
US stocks recovered from sharp early losses on Friday (November 14th), but closed flat to lower as investors bought back major technology stocks and reassessed the likelihood of a December interest rate cut. This left the S&P 500 and Nasdaq 100...
Oil prices rose more than 2% on Friday (November 14th) as the Russian port of Novorossiisk halted oil exports following a Ukrainian drone attack on an oil depot in the Russian energy hub, sparking supply concerns. Brent crude futures closed up...
Gold prices fell 3% on Friday (November 14th) due to a broader market sell-off, triggered by hawkish remarks from US Federal Reserve officials, which dimmed hopes of a December interest rate cut. Spot gold prices fell 1.9% to $4,092.72 an ounce,...
Gauges in Japan, South Korea and Australia all opened weaker, even as an index of the region was poised for its third gain in four weeks....
Citing worries about inflation and signs of relative stability in the labor market after two U.S. interest rate cuts this year, a growing number of...
US stocks recovered from sharp early losses on Friday (November 14th), but closed flat to lower as investors bought back major technology stocks and...
US stocks plunged on Thursday (November 13), with the S&P 500 falling 1.5%, the Nasdaq 1.9%, and the Dow Jones Industrial Average returning to a...