The S&P 500 closed mostly flat on Friday, the Dow Jones extended its record run, rising 240 points finisheing at 46,758 after briefly surpassing 47,000 during the session, while the Nasdaq slipped 0.3% as the US government shutdown entered its third day. Pressure came from major technology names, with Palantir Technologies leading the S&P 500 lower, dropping 7.5%, while Tesla and Nvidia fell 1.4% and 0.7%, respectively. Applied Materials declined 2.7% after warning of a $600 million revenue hit tied to semiconductor export restrictions. Investors focused on the shutdown, which...
Hong Kong's stock market ended higher on Tuesday with the benchmark Hang Seng Index up 1.59 percent to close at 22,976.81 points. The Hang Seng China Enterprises Index jumped 1.82 percent to end at 8,475.40 points, and the Hang Seng Tech Index climbed 2.54 percent to close at 5,639.05 points. Source: CTX news
European futures hit record peaks on Tuesday as defence stocks soared on expectations of a spending bump, while Hong Kong shares were on the verge of three-year highs as investors cheered business leaders' meeting with President Xi Jinping. Australia's central bank began its rate cut cycle, as expected, and the Australian dollar found support at $0.6350 as a cut came with caution on further easing. S&P 500 futures were up 0.2% and European futures were up 0.1%. Japan's Nikkei rose 0.5% with bank and defence-related shares taking cues from Europe's rally. On Monday, the pan-European...
Hang Seng Index opened higher by 48 points at 22,664 before extending its rally, climbing as much as 418 points to reach an intraday high of 23,034. By late morning, the index was up 406 points, or 1.79%, at 23,022, with turnover on the main board totalling HK$1.168 billion. At 10.50am local time, the index was trading at 22,951.64, up 335.41 points or 1.48%. Technology stocks led the charge, with Tencent rising 2.3%, Alibaba surging 4.6%, Meituan gaining 1.6%, Xiaomi climbing 5.9%, JD.com up 1%, and Kuaishou advancing 4.1%. Financial stocks also supported the market's momentum, with HSBC...
Australia's central bank cuts interest rate for the first time in more than four yearsThe Reserve Bank of Australia on Tuesday cut benchmark interest rates for the first time in over four years, joining ranks with other major global central banks, as softening inflation allows room for easing policy. The RBA cut rates by 25 basis points to 4.10%. This marked the RBA's first easing since November 2020, when the central bank cut its key rate to a record low, as it battled a slowing economy during the pandemic. The central bank had held its policy rate steady at 4.35% since November 2023,...
The Hang Seng Index opened higher on Monday, gaining 48 points or 0.21% to reach 22,664. The China Enterprises Index rose by 20 points or 0.24% to 8,343, while the Technology Index climbed 19 points or 0.36% to 5,519. Technology stocks showed mixed performance. Tencent Holdings edged up 0.1%, while Alibaba fell by 0.1%. Meituan and JD.com both gained 0.7%, with Kuaishou Technology rising 0.1%. Xiaomi Corporation remained unchanged. Financial stocks exhibited varied results, with HSBC Holdings advancing 0.7%, while AIA Group and Hong Kong Exchanges and Clearing saw no movement. Ping An...