The Hang Seng Index fell 1.1% at 25,388.35 in Hong Kong. The move was the biggest since falling 2% on June 19 and follows the previous session's increase of 0.5%. Alibaba Group Holding Ltd. contributed the most to the index decline, decreasing 1.9%. Kuaishou Technology had the largest drop, falling 4.9%. Today, 63 of 85 shares fell, while 20 rose; all sectors were lower, led by commerce and industry stocks. Source : Bloomberg
Asia-Pacific markets opened mixed on Thursday after Wall Street's rally stalled overnight even as inflation data matched expectations. The U.S. personal consumption expenditures, or PCE, price index rose 2.3% on an annualized basis, up from 2.1% in September. So-called core inflation, which excludes food and energy prices, rose 2.8% in the 12 months to October, up from 2.7% in the previous month. Both were in line with expectations from economists polled by Reuters, according to LSEG data. The Bank of Korea is expected to keep its benchmark interest rate unchanged at 3.25% when its...
Japanese stocks fell, dragged down by a decline in electronics shares, as concerns about U.S. trade policy persisted. Lasertec dropped 3.4% and Terumo dropped 1.7%. USD/JPY was at 151.46, down from 152.15 at the close of the Tokyo Stock Exchange on Wednesday. Investors were watching the yen and any developments related to the Russia-Ukraine war. The Nikkei Stock Average was down 0.4% at 37,994.69. Source: Bloomberg
Stocks fell in light trading on Wednesday as investors took some risk off the table following big November gains. The S&P 500 shed 0.4%, while the Nasdaq Composite lost 0.8%. The Dow Jones Industrial Average fell 115 points, or 0.3%, despite trading more than 140 points up at session highs. Traders appeared to take profits on big technology names that have largely performed well this year, which can explain the Nasdaq's underperformance. Nvidia which has surged more than 168% in 2024, lost more than 3% in the session. Meta Platformsslid about 1% after rallying around 60% this...
European stocks closed firmly lower on Wednesday, extending the drop from the prior session as markets continued to assess the outlook for ECB policy and the impact of tariff threats from the upcoming US presidential administration. The Eurozone's Stoxx 50 dropped 0.6% to close at 4,734 and the pan-European Stoxx 600 eased 0.2% to close at 505. ECB Governing Council member Schnabel noted that the Eurozone's economy is not headed into a recession, warranting caution in its upcoming policy decisions to not overly expedite rate cuts. French financial services providers were among the worst...
Stocks edged lower as traders waded through mixed data on the world's largest economy ahead of a key inflation reading. Equities halted a seven-day rally that drove the S&P 500 to all-time highs. Treasuries advanced across the curve, while the dollar fell. The US economy expanded at a solid pace in the third quarter, largely powered by a broad-based advance in consumer spending and steady business investment. Gross domestic product increased at a 2.8% annualized pace. Separate figures showed initial jobless claims were...