Hong Kong shares fell 282 points or 1.1% to 25,277 in early trade Tuesday, pulling back from Monday's gains as all sectors retreated. Investors reacted to weak June trade data in the city, showing the slowest growth in exports and imports in five months on softening global and domestic demand as trade risks mounted. Some traders took profits after the Hang Seng revisited near four-year highs while Wall Street ended mixed overnight. Sentiment was further weighed by caution ahead of key U.S. events this week, including the Fed's rate decision and inflation readings. In China, July PMI data...
The Nikkei 225 index rose 0.18% to close at 39,160, while the broader Topix index rose 0.27% to 2,735 on Monday, recovering losses from the previous session and tracking Wall Street's gains at the end of last week. Investors also eyed revised Japanese third-quarter economic growth data, which indicated the country's second straight quarter of expansion. Business sentiment data later this week will be closely watched for further insight into the health of the economy. However, gains were capped by ongoing global political instability. Political crises in South Korea and France, as well as...
Hong Kong stocks were mostly flat on Monday morning, trading around 19,868 after rallying in the previous session, as investors digested China's November CPI and PPI data. Mainland consumer prices rose 0.2% year-on-year, missing market consensus of 0.5% and marking the weakest gain in five months. Producer prices, meanwhile, fell 2.5%, marking a 26-month decline, although easing from a 2.9% drop in October. Source: Trading Economics
China's producer prices fell 2.5% year-on-year in November 2024, after falling 2.9% in the previous month and below market expectations of 2.8%. This marked the 26th straight month of producer deflation, reflecting continued weakness in domestic demand amid Beijing's ongoing efforts to stem the trend. On a monthly basis, producer prices edged up 0.1%, after falling 0.1% in October. For the first 11 months of the year, producer prices shrank 2.1%. Source: Trading Economics
The Nikkei 225 and Topix indexes showed limited movement on Monday, as global political instability weighed on financial markets. Ongoing political crises in South Korea and France, along with the collapse of Syrian President Bashar al-Assad's regime, contributed to the uncertainty. Domestically, Japan's third-quarter economic growth was revised upward, indicating the country's second consecutive quarter of expansion. Investors are now awaiting business sentiment data later in the week to further assess the health of the economy. Notable declines were seen in index heavyweights such as...
Asian stocks started the week on a weak note, as investors grappled with South Korea's political upheaval and awaited fresh stimulus from Beijing. Oil prices steadied after Syria's government was toppled. Korean equity benchmarks fell as much as 1.8% at the open, with Australian shares also down. Japanese shares were flat. Futures pointed to a weak open in Hong Kong. The dollar and 10-year Treasury yields were steady. Investors are bracing themselves this week for a series of central bank decisions on four continents, a key meeting of Chinese officials and U.S. inflation data in a bid to...