The Hang Seng Index fell 393 points, or 1.5%, to 25,217 on Tuesday (December 16), closing at a nearly four-week low and extending the previous session's sharp decline as mainland Chinese stocks slumped further and traders grew nervous ahead of key US economic data this week. Meanwhile, China's economy showed more signs of slowing in November, with disappointing industrial output and retail sales. Property stocks led the decline amid concerns of a prolonged downturn, particularly after China Vanke said it would hold a second bondholder meeting after failing to secure approval to extend a...
Stocks struggled to make headway, following a furious post-election rally that spurred calls for a breather amid signs of buyer fatigue. Equities wavered near all-time highs, with the S&P 500 remaining close to technically overbought levels. That's after a surge that drove the benchmark gauge up 25% this year. Several measures highlight strong trader optimism, including the latest figures from the American Association of Individual Investors, which showed a spike in bullish sentiment last week. In the run-up to Jerome Powell's speech on Thursday, traders...
The Hang Seng plunged 388 points, or 2.0%, to close at 19,436 on Thursday, marking its fifth session of declines and hitting a seven-week low amid sharp declines across all sectors. It was the first time the Hang Seng remained fully open despite the bad weather, with many participants reluctant to enter any trades. Traders shrugged off China's latest efforts to reverse a property slump through tax incentives on home and land transactions. Concerns about Sino-U.S. tensions also grew as China tightened its grip on rare earth exports. The technology index slumped about 3%, taking its losses...
The Nikkei 225 index fell 0.48% to close at 38,536, while the broader Topix index fell 0.27% to 2,701 on Thursday, reversing gains from earlier in the session, weighed down by losses in the technology sector following similar moves on Wall Street overnight. Investors also continued to assess the potential impact of U.S. President-elect Donald Trump's policies on the Japanese economy, particularly on export-driven industries. Meanwhile, traders kept a close eye on a sharply weaker yen, which could provide support for local equities in the near term. Technology stocks led the losses, with...
The Nikkei 225 index rose 0.8% to surpass 39,000, while the broader Topix index gained 1% to 2,735 on Thursday, with Japanese stocks recouping some of the losses seen earlier in the week as the yen depreciated to a 3-1/2-month low. A weaker yen supported the profit outlook for Japan's export-driven industries and boosted carry trades, where investors borrow in yen to invest in higher-yielding assets. Attention now turns to the release of third-quarter GDP data on Friday, which could provide further insight into Japan's economic outlook. Financial stocks led the day's rally, with...
The S&P 500 and the Dow Jones Industrial Average ended Wednesday's session near the flatline as the postelection rally lost some steam. Traders also contemplated a key inflation report that was in line with expectations. The S&P 500 inched higher by 0.02% to close at 5,985.38, while the 30-stock Dow ticked up 47.21 points, or 0.11%, to 43,958.19. The blue-chip index added as much as 230 points earlier on Wednesday. The Nasdaq Composite ended the day with a 0.26% decline and closed at 19,230.74. The October consumer price index accelerated a tad to a 2.6% annual rate, matching the...