The Hong Kong stock market opened on a positive note today (22 July), with the Hang Seng Index rising by 30 points, or 0.12%, to 25,024 points. The China Enterprises Index gained 11 points, or 0.13%, to 9,051 points, while the Technology Index increased by 4 points, or 0.08%, to 5,589 points. Among financial stocks, HSBC Holdings rose by 0.81% to HK$99.25, Ping An Insurance recorded a slight increase of 0.09%, and Hong Kong Exchanges and Clearing edged up by 0.14%. However, AIA Group saw a decline of 0.58%. Major tech stocks showed mixed performances. Xiaomi Group advanced by 0.26%,...
U.S. stocks closed lower on Wednesday as investors weighed earnings, Fed minutes and trade tensions ahead of Nvidia's results. The S&P 500 and Nasdaq each fell 0.5%, and the Dow dropped 224 points. Nvidia shares rose 1% ahead of earnings, which are seen as a key test of AI-driven market optimism. The Fed minutes reflected a cautious stance, warning of "difficult compromises" amid economic uncertainty. Trade concerns resurfaced after the Trump administration asked U.S. companies to halt some semiconductor software sales to China, putting pressure on Cadence and Synopsys. Okta fell more...
It's been a broadly negative day for European equities, with the regional Stoxx 600 index closing 0.6% lower as Germany's DAX slipped 0.78% from Tuesday's record high close. There have been few stand-out performers, though defense firms including Renk, Hensoldt and Saab all moved higher as investors continue to eye tailwinds behind the sector. Automaker Stellantis closed 2.2% lower after the owner of Jeep, Dodge, Fiat, Citroen and more named North American chief operating officer Antonio Filosa as its new chief executive. The announcement ends months of uncertainty at a challenging time...
Wall Street trading was fairly muted in the run-up to the highly anticipated earnings from Nvidia Corp. — the last of the "Magnificent Seven" megacaps to report. Just hours ahead of results from the world's most-valuable chipmaker, the S&P 500 fluctuated. Nvidia, which has surged more than 40% from its April low, barely budged. The options market implies a post-results move of about 6% in either direction, lagging the average swing over the past two years. "Wednesday's Nvidia earnings report is pivotal not just for Nvidia but for the entire stock...
The Hang Seng fell 124 points or 0.5% to finish at 23,258 on Wednesday, swinging from modest gains in the previous session as broad-based losses across financials, consumer, and tech sectors weighed on the market. Sentiment turned sour amid rising concerns that China-U.S. trade tensions could escalate once the current three-month pause ends in July. Risk appetite was further dampened by an intensifying price war in China's auto sector after BYD Co. announced new discounts on over a dozen models. Adding to the cautious mood, investors braced for China's official PMI data in the coming days,...
Both the STOXX 50 and STOXX 600 hovered near the flatline on Wednesday, taking a breather after two consecutive sessions of gains. Investors remained cautious as they evaluated ongoing trade negotiations and the US fiscal outlook, while awaiting Nvidia's earnings report later today for potential catalysts and updated guidance. Reports suggest European leaders have asked major corporations and CEOs to outline their US investment plans in preparation for the talks with Washington. On the data front, GDP growth for France was confirmed at 0.1% in Q1. Among the sectors, oil & gas, autos,...