Hong Kong's stock market rebounded after a one-day hiatus. Signs of stabilization in the property sector and gains in technology stocks boosted positive sentiment. As of 9:55 a.m. local time, the Hang Seng Index rose 1.3% to 27,191.99, and Hang Seng Tech rose 2.2%. Tech stocks led the way: Kuaishou surged 8%, Baidu and Alibaba both rose 3.7%, JD.com rose 2.5%, Tencent added 2.1%, Meituan 1.8%, and Xiaomi 1.9% after reporting deliveries of over 40,000 cars in September. Meanwhile, Trip.com fell 1.9%, Pop Mart 1.5%, Li Auto 0.7%, and Anta Sports 1.2%. Mainland Chinese markets were closed...
US stocks closed higher on Friday, with the S&P 500 up 0.8%, and the Nasdaq climbing nearly 1%, while the Dow gaining 206 points. Technology shares, led by Apple which surged 4.2% following its announcement of a $600 billion US investment plan helped lift the tech-heavy Nasdaq to new intraday highs. Investor optimism was also fueled by expectations of Federal Reserve rate cuts, with President Trump nominating Stephen Miran to the Fed Board, signaling possible shifts in monetary policy, despite concerns over new tariffs imposed by the Trump administration on imports from multiple...
European stocks closed firmly higher to record sharp gains in the first week of August as markets continued to assess the outlook of the European economy amid uncertain tariff levels by the US and policy reactions by the ECB. The Eurozone's STOXX 50 gained 0.4% to 5,354, a 3.6% gain on the week, while the pan-European STOXX 600 advanced 0.3% to 547, a 2.2% rise on the week. Banks continued to rise sharply in the session with BBVA, BNP Paribas, and UniCredit each gaining more than 2%. In the meantime, Siemens advanced 2.2% following a volatile week while Volkswagen, Mercedes-Benz, and...
U.S. stocks edged higher Friday as investors digested Trump's new selection to temporarily fill a vacancy on the Fed's Board of Governors and assessed an ebbing stream of corporate earnings. At 09:35 ET (13:35 GMT), the Dow Jones Industrial Average rose 145 points, or 0.3%, the S&P 500 index gained 16 points, or 0.3%, and the NASDAQ Composite climbed 52 points, or 0.3%. The main averages are on pace for weekly gains, with the tech-heavy NASDAQ Composite the star of the show, poised for a 2.9% gain before this session. The Trump administration's tariffs took effect from Thursday,...
The Hang Seng dipped 223 points or 0.9% to close at 24,859 on Friday, reversing gains from the prior four sessions amid broad-based losses. Sentiment soured ahead of the August 12 deadline for China to reach a lasting tariff deal with the Trump administration. Traders also remained cautious ahead of China's July CPI and PPI data due Saturday, with expectations for a slight drop in consumer prices amid weak demand and continued producer deflation due to lingering trade risks. The tech sector led losses, down around 1.5%, pressured by a nearly 8% plunge in chipmaker SMIC after disappointing...
Both the STOXX 50 and STOXX 600 rose 0.2% on Friday, putting them on track to close the week with strong gains of 3.3%, their best performance since April, and 1.9%, respectively. The weekly rally was driven by upbeat corporate earnings reports and renewed optimism over potential progress in resolving the Ukraine-Russia conflict. Investors also assessed changing global trade dynamics after President Trump's massive retaliatory tariffs took effect on Thursday. Furthermore, expectations of a Federal Reserve interest rate cut have recently strengthened. Among large-cap stocks, Novo Nordisk...