The Hang Seng Index started the day with a decline of 135 points, or 0.53%, settling at 25,531 points. The China Enterprises Index dropped 41 points, or 0.45%, to 9,216 points, while the Hang Seng Tech Index fell 29 points, or 0.51%, to 5,713 points. Technology stocks faced downward pressure, with Kuaishou sliding by 1.57%, Alibaba dropping 1%, Tencent falling 0.9%, and Trip.com Group losing 0.39%. Xiaomi Group recorded a marginal decline of 0.09%, while Meituan remained unchanged. Financial stocks showed a mixed trend. AIA Group saw the largest drop, down 1.89%, followed by Ping An...
The Nikkei 225 Index dropped 0.2% to below 39,200, while the broader Topix Index fell 0.3% to 2,745 on Wednesday, trimming gains from the previous session as caution gripped the market following political turmoil in South Korea. South Korean President Yoon Suk Yeol unexpectedly declared martial law late Tuesday, citing efforts to prevent opposition parties from disrupting the parliamentary process. However, he reversed the decision after the National Assembly voted against the measure. In Japan, investors remained focused on the outlook for monetary policy, with speculation that the Bank...
The Bank au Jibun Flash Japan Composite PMI was revised up to 50.1 in November 2024 from 49.8 in the preliminary estimate, and after 49.6 in the previous month, signaling broad stabilization in the country's private sector. The latest reading was supported by a marginal expansion in services business activity while manufacturing output shrank further into contraction territory. Employment growth hit a four-month high, accompanied by a remarkable increase in business for the first time since April. Cost pressures remained high due to rising raw material prices and a weak yen. However,...
South Korean stocks opened lower on Wednesday, after a day of political turmoil in South Korea that saw President Yoon Suk Yeol impose and then lift a martial law decree within hours. South Korea's Kospi fell 1.8% while the Kosdaq dropped 1.7%. Amid concerns about financial instability, a Bank of Korea official reportedly said the bank's monetary policy board will hold an extraordinary board meeting around 9 a.m. KST. The South Korean government has announced it will inject unlimited liquidity into financial markets for as long as needed in an effort to calm sentiment, according to...
The S&P 500 edged to a new record close on Tuesday, and the Nasdaq 100 gained 0.4%, building on Monday's record finish. Meanwhile, the Dow slipped 76 points as investors awaited fresh market catalysts. Investors digested stronger-than-expected October JOLTS data, with job openings rising by 372,000 to 7.74 million, while the quits rate increased to 2.1%, signaling worker confidence. Markets now see a 74% chance of a Fed rate cut on December 18, up from 62% a day earlier. In corporate news, US Steel Corporation shares fell 8% after President-elect Donald Trump pledged to block its $15...
Stocks slipped Tuesday, taking a breather following a major rally that has taken U.S. benchmarks to record levels. The S&P 500 slid 0.1%, while the Nasdaq Composite slipped slightly below the flatline. The Dow Jones Industrial Average fell 65 points, or 0.2%. Both the S&P 500 and Nasdaq hit new record highs on Monday, adding to their strong postelection gains. Since the Nov. 5 vote, the S&P 500 has climbed 4.6%, and the Nasdaq has rallied 5.2%. The Dow is up 6% since then, and is trading near the key 45,000 level. Economic data released on Tuesday morning showed that job...