US stocks were little changed on Tuesday, with the three major indexes hovering around the flatline as investors adopted a cautious stance ahead of a potential government shutdown that could disrupt the release of key labor data later this week. The government faces the risk of shutting down tomorrow if Democrats and Republicans fail to reach a deal today, putting Friday's payrolls report at risk. Traders also awaited the JOLTS job openings data due later in the day. Energy and communication services were the worst performing sectors while utilities outperformed. Microsoft (-0.6%), Amazon...
The Hang Seng Index started the day with a marginal increase of 17 points or 0.06%, reaching 26,536 points. Concurrently, the H-share index dropped by 5 points or 0.05%, standing at 9,437 points, while the technology index saw a decline of 8 points or 0.13%, closing at 6,314 points. In the tech sector, stock movements were varied: Tencent rose by 0.3%, Alibaba remained unchanged, Meituan dropped by 0.5%, Xiaomi Group remained stable, JD.com rose by 1.8%, and Kuaishou saw a decrease of 1%. Individual developments were observed in financial stocks, with HSBC Holdings rising by 0.3%, AIA...
The Nikkei 225 weakened 0.1% to 45,600, while the Topix gained 0.2% to 3,177 on Thursday, as Japanese equities lacked a clear direction due to pressure on technology stocks. This followed two consecutive days of declines in major US indexes, driven by concerns over record-high valuations and complex interdependencies in the AI sector. Domestically, minutes of the Bank of Japan's July meeting suggested that policymakers remain inclined to raise interest rates further if economic and price conditions develop as expected. Investors are now eyeing Friday's Tokyo inflation data, a key...
Asian stocks traded in a tight range at the open after losses on Wall Street as signs of fatigue crept into the AI-fueled equity rally. Shares in Japan and Australia edged up while those in South Korea retreated. The S&P 500, Nasdaq 100 and a gauge of global stocks each dropped 0.3% Wednesday, extending declines from the prior day. An index of US-listed Chinese companies rallied against the downcast mood on Wall Street to climb 2.8%. Equity-index futures for Hong Kong retreated as the city returns to normalcy after Super Typhoon Ragasa....
US stocks weakened for a second straight day on Wednesday as investors weighed pressure on AI leaders, mixed signals from the Federal Reserve, and profit-taking near record highs. The S&P 500 fell 0.3%, the Nasdaq 100 and the Dow Jones Industrial Average each fell 0.4%, extending Tuesday's decline that ended a three-day winning streak. Nvidia fell nearly 1% after announcing a $100 billion partnership with OpenAI, while Oracle fell 1.7% and Micron Technology slumped 2.9% despite posting higher-than-expected earnings. Conversely, Alibaba's pledge to increase AI spending beyond its initial...
European stocks closed near the flatline on Wednesday (September 24), extending the relatively subdued movement in equity markets this week, as weakness among major luxury brands offset modest gains in other sectors. The Eurozone STOXX 50 and the pan-European STOXX 600 were both flat on the session. Luxury brands reversed their strong momentum from yesterday to close sharply lower, with LVMH, Hermes, Ferrari, L'Oreal, and EssilorLuxxotica all down between 3% and 1.5%. Meanwhile, companies in the crude oil exploration and extraction sector rose sharply amid a rebound in benchmark prices,...