The Hang Seng fell 87 points, or 0.3%, to finish at 26,346 on Tuesday, reversing three consecutive sessions of gains as U.S. futures pointed to a lower open on Wall Street following Monday's rally. Mainland stocks also eased after six straight sessions of strength, retreating from a decade high ahead of official October PMI data and amid growing doubts over the durability of the recent easing in U.S.-China trade tensions. Hong Kong's consumer and tech sectors weighed on the index, with steep losses from Zijin Gold Intl. (-4.5%), Anta Sports (-4.2%), China Hongqiao Group (-3.7%), and Xiaomi...
European stocks closed in positive territory on Thursday as investors pored over earnings reports for clues about business activity and confidence in the region. The pan-European Stoxx 600 index closed the session up 0.4%. The UK's FTSE 100 index rose 0.7%, France's CAC 4 gained 0.2%, and Italy's FTSE MIB also posted a 0.4% gain. Germany's DAX index also edged higher, closing up 0.3%. It was a busy day for earnings reports in Europe, with Kering, Roche Holding, Unilever, Vinci, Thales, LSEG, Dassault Systemes, Antofagasta, Swedbank, Nokia, and Lloyds Banking Group among the big names...
The Hang Seng rose 186 points, or 0.7%, to close at 25,968 on Thursday, reversing early declines as sentiment improved following reports that the U.S. and China will hold another round of high-level trade talks this weekend at the 47th ASEAN Summit. Markets also rebounded from steep losses the previous day, as traders awaited a communique from China's fourth plenum, which may outline the government's economic, political, and social agenda, including five-year development plans. Investors largely shrugged off reports that Washington could impose broad export restrictions on China in...
European stocks rallied on Thursday, driven by the energy sector and mixed results from major companies. The Stoxx Europe 600 Index rose 0.2% in early London trading, with energy stocks leading the gains after Brent oil prices jumped 4%. This surge came after the United States imposed sanctions on two Russian oil giants, Rosneft and Lukoil, for their perceived lack of commitment to peace in Ukraine. On the corporate side, Nokia surged 11% thanks to strong demand for its cloud and artificial intelligence services, while Volvo Cars soared 23% after posting above-expected profits. Conversely,...
Japanese stocks weakened on Thursday as new Prime Minister Sanae Takaichi prepared for challenging, major budget negotiations. The Nikkei 225 index fell 0.24%, or 94.09 points, to close at 38,814.56. The pressure arises as Japan must balance Takaichi's fiscal stimulus plan with its $550 billion investment obligation to the United States under the tariff agreement reached by her predecessor. If the funds are not disbursed before US President Donald Trump's term ends in January 2029, tariffs on Japanese goods could surge above 15%. To reduce the fiscal burden, Takaichi plans to partner with...
The Hang Seng Index opened lower by 63 points, or 0.24%, to 25,718, followed by the H-Share Index, which fell 0.34%, and the Technology Index, which fell 0.67%. This decline was driven by the decline in major technology stocks such as Tencent, Meituan, Xiaomi, JD.com, and Kuaishou, which all fell between 0.4% and 1%. Alibaba was the only major stock in this sector to remain stable. In the financial sector, stock movements were more mixed. HSBC Holdings and AIA Group recorded small gains of 0.1% and 0.2%, respectively, while Ping An and the Hong Kong Stock Exchange weakened slightly....