Hong Kong stocks rose modestly on Tuesday, as investors positioned ahead of the Politburo meeting in China that could set the economic tone for the rest of the year, while sentiment remained upbeat following the launch of the world's largest hydropower dam project on the eastern rim of the Tibetan Plateau. The Hang Seng Index gained 135.89 points, or 0.5%, to close at 25,130.03, while the Hang Seng China Enterprises Index (HSCEI) added 35.40 points, or 0.4%, to 9,075.60. Focus is now on the upcoming Politburo meeting, convened by Chinese President Xi Jinping later this month, which could...
Stocks tumbled on Friday as the postelection rally fizzled, placing the major averages on track for sharp weekly losses. The Dow Jones Industrial Average lost 292 points, or 0.68%. S&P 500 slipped about 1.1%, while Nasdaq Composite shed 2%. Declines in pharmaceutical stocks weighed on the 30-stock Dow and the S&P 500, with Amgen down 5% and Moderna off by more than 7%. President Donald Trump said on Thursday that he planned to nominate vaccine skeptic Robert F. Kennedy Jr. to lead the U.S. Department of Health and Human Services. The SPDR S&P Biotech ETF (XBI) tumbled more than...
European markets opened lower on Friday, as investors assessed the latest economic data and the future path to cut interest rates following hawkish comments from US Federal Reserve Chairman Jerome Powell. The pan-European Stoxx 600 fell 0.8% in early trade, with all major bourses and nearly all sectors in the red. Healthcare stocks fell 1.72%, tracking a broader decline for global vaccine makers, as investors weighed President-elect Donald Trump's choice of Robert F. Kennedy Jr. to lead the Department of Health and Human Services. Technology stocks also fell 1.36%, while utilities were...
The Nikkei 225 jumped 1.1% to above 38,900 while the broader Topix Index gained 1% to 2,728 on Friday (11/15), with Japanese shares snapping a three-day slide as solid GDP data lifted market sentiment. Japan's economy expanded 0.3% year-on-year in the third quarter, ending two straight quarters of declines amid further gains in private consumption and government spending. Local shares also benefited from a sharply weaker yen that boosted the profit outlook for Japan's export-driven industries. Meanwhile, investors remained cautious after U.S. Fed Chair Powell said that strong U.S. economic...
Hong Kong's shares rose 97 points or 0.5% to 19,532 in early trade on Friday, ending losses in the prior five months amid gains across all sectors. Traders digested activity data from China showing retail turnover rose to an eight-month high in October and the jobless rate fell to a four-month low. Nevertheless, industrial output in the mainland grew less than expected. Also supporting sentiment were hopes of favorable outcomes from the Chinese central government's work forum and a Politburo meeting in December. Cathay Pacific jumped over 9%, on a plan to repurchase convertible bonds. Other...
The Shanghai Composite fell 1.73% to close at 3,380 while the Shenzhen Component dropped 2.83% to 11,038 on Thursday, giving back gains from the previous session amid a lack of market-moving news.Sentiment was cautious as investors continued to weigh the potential impact of US President-elect Donald Trump's trade policies and the appointment of anti-China figures on China's economy and markets.Additionally, Beijing's latest support measures to bolster the struggling economy failed to impress.Despite the finance ministry unveiling tax incentives for home and land transactions on Wednesday,...