The Hang Seng Index plunged 454 points, or 1.7%, on Tuesday (November 18th), its sharpest one-day drop since mid-October, and closed at a two-week low of 25,930. The index fell for a third straight session, weighed down by broad declines across sectors. Sentiment soured due to the global market slump, with traders anxiously awaiting Nvidia's earnings report amid valuation concerns and the delayed release of US data, including the September employment report. Technology stocks slumped nearly 2% as the recent rally showed signs of exhaustion. Property, financial, and consumer discretionary...
The Hang Seng fell 249 points or 1.0% to close at 25,270 on Friday, slipping for the second session as all sectors dipped. Weak July data in China hit investor sentiment as industrial output grew the least in eight months, retail sales notched a six-month low, and the jobless rate rose to a four-month high of 5.2%. The Chinese statistics agency also warned of persistent risks from global headwinds and weather disruptions. Still, the index rose 1.7% for the week, its second straight gain, helped by Wall Street record highs and optimism over a possible Fed rate cut in September, as well as a...
The Stoxx 50 and Stoxx 600 edged higher on Friday (August 15), extending their gains for a fourth consecutive session as investors awaited the high-stakes Trump-Putin summit in Alaska, hoping for progress in ending the Ukraine war. Sentiment strengthened despite mixed global data, including weaker factory output and retail sales in China in July. In corporate news, Pandora reported Q2 organic sales rose 8% to DKK 7.08 billion ($1.1 billion), slightly missing estimates, with U.S. sales up 12% but China sales down 15%. The jewelry company will double its planned store closures in China to...
The Nikkei 225 index jumped 1.71% to 43,378, while the broader Topix index rose 1.63% to 3,108 on Friday (August 15), recovering from the previous session's decline as stronger-than-expected GDP data boosted sentiment. Japan's economy grew 0.3% in the second quarter, up from 0.1% growth in the first quarter, which also matched the consensus forecast. This positive surprise was primarily driven by net exports, which added 0.3 percentage points to growth despite headwinds from US tariffs. Globally, higher-than-expected US producer price inflation dampened speculation of a half-point Federal...
Hong Kong stocks plunged 332 points (-1.3%) to 25,192 in Friday morning trading, extending their decline into a second session. Selling pressure spread across most sectors, particularly financials, technology, and consumer discretionary, as regional risk appetite weakened. Sentiment was weighed down after Chinese data for July showed industrial output and retail sales below expectations, confirming slowing economic momentum amid persistent external risks, weather disruptions, and weak domestic demand. The surveyed unemployment rate also rose to 5.2%, a four-month high. Nevertheless, the...
The Nikkei 225 Index climbed 0.5% to above 42,800, while the broader Topix Index advanced 0.75% to 3,080 on Friday, rebounding from the prior session's losses as stronger-than-expected GDP data lifted sentiment. Japan's economy expanded 0.3% in the second quarter, accelerating from a 0.1% growth in Q1 which was also the consensus forecast. The upside surprise driven mainly by net exports, which added 0.3 percentage points to growth despite headwinds from US tariffs. Globally, a hotter-than-expected US producer price inflation reading tempered bets on a supersized half-point Federal Reserve...