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...
U.S. stocks edged higher ahead of a key inflation report, with investors looking for confirmation that the Federal Reserve will cut interest rates next week. At 09:35 ET (14:35 GMT), the Dow Jones Industrial Average gained 85 points, or 0.2%, the S&P 500 index gained 14 points, or 0.2%, and the NASDAQ Composite rose 102 points, or 0.4%. PCE inflation gauge in spotlight Expectations of 25-basis point reduction at the Federal Reserve's December 9–10 meeting are running hot -- with futures now pricing in roughly an 87% probability -- on the back of recent weak labor data and broader...
Stocks in Europe traded higher on Friday, with both the STOXX 50 and STOXX 600 up 0.2%, putting them on track to notch a second consecutive week of gains. Expectations that the Federal Reserve will deliver another rate cut next week continued to lift sentiment, supporting a broadly positive tone across equity markets. Investors in Europe are also keeping a close eye on US.-led negotiations aimed at ending the war in Ukraine. Corporate news drove much of the day's sector moves, with basic resources, autos, healthcare, and chemicals among the top performers. Novo Nordisk rose more than 2%...
The Hang Seng rose 149 points, or 0.6%, to close at 26,085, reversing morning losses and marking a second straight session of gains. An uptick in U.S. futures supported sentiment ahead of the U.S. PCE index, a key inflation gauge preferred by the Fed and the FOMC's final meeting for the year next week, where another rate cut is expected. Investors also looked past concerns over China's shadow banking practices, hopeful that Beijing may deliver fresh stimulus to a slowing economy. Most sectors advanced, led by tech, financials, and consumer stocks. Hong Kong markets posted a second...
The Nikkei 225 index fell 1.14% to close at 50,446 on Friday (December 5), while the Topix index fell 1.05% to 3,363. This decline erased some of the previous session's gains, as speculation intensified that the Bank of Japan (BOJ) could raise interest rates later this month. Reports stated that key members of Prime Minister Sanae Takaichi's government would not oppose a BOJ move in December, although some senior officials remained cautious about the timing. The market has even priced in the possibility of one or two additional rate hikes next year. Negative sentiment also carried over from...
Hong Kong equities eased at the start of trading, with the Hang Seng Index down 102 points, or 0.39%, at 25,833. The China Enterprises Index fell 29 points, or 0.32%, to 9,077, while the Tech Index declined 23 points, or 0.41%, to 5,592. Technology counters were broadly weaker. Tencent retreated 1.1%, Alibaba slipped 0.7%, Meituan lost 0.5%, Xiaomi fell 0.6% and JD.com edged down 0.9%, while Kuaishou was unchanged. Financials were mixed. HSBC dipped 0.2% and AIA fell 0.8%, whereas Ping An gained 0.9%. Hong Kong Exchanges and Clearing dropped 1%. Source : dimsumdaily.hk