The Hang Seng Index rose for the third day, climbing 1.6%, or 431.56 to 27,287.12 in Hong Kong. The index advanced to the highest closing level in at least a year. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 3.5%. Semiconductor Manufacturing International Corp. had the largest increase, rising 12.7%. Today, 60 of 88 shares rose, while 25 fell; 3 of 4 sectors were higher, led by commerce and industry stocks. Source: Bloomberg.com
European stocks closed firmly higher on Thursday, with the STOXX 50 and the STOXX 600 adding 0.4% and 0.6%, respectively, extending the rebound from the prior session as long-dated yields edged lower and eased concerns of higher credit costs. Yields were further pressured by pessimistic labor market data in the US following a batch of pessimistic signals about the labor market in the world's largest economy, consolidating bets of incoming rate cuts by the Federal Reserve. Travel stocks were among the weakest performers, with Jet2 plunging 12.5 after cutting its winter 2025–26 capacity...
The three major averages in the US swing between small gains and losses on Thursday, as traders digest the latest batch of economic data and what it means for the Fed's plans. The US private sector added only 54K jobs in August, reinforcing signs that the labor market is losing momentum and strengthening expectations of a Federal Reserve rate cut this month. Initial jobless claims also rose to 237K, the highest in nearly two months. This followed Wednesday's weaker-than-expected JOLTS report. On the other hand, the ISM Services PMI rose more-than-expected to a six-month high. Investors are...
The Hang Seng Index fell 285 points, or 1.1%, to close at 25,058 on Thursday (September 4), weakening for a third session amid widespread weakness. The index followed mainland Chinese stocks lower after reports that China was considering cooling measures for the stock market, including easing some restrictions on short selling. The news triggered profit-taking after a 10% surge in Chinese stocks in August, driven by record margin financing and intensive trading, which raised concerns about overheating. The technology index slumped 1.9%, dragged down by a decline in Cambricon shares, due to...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Thursday, as bond market pressures eased and yields edged lower. Traders remained focused on upcoming US labour market data to gauge the Federal Reserve's next move, with a rate cut this month now almost fully priced in. Trade policy developments also drew attention after President Trump urged the Supreme Court to swiftly hear his appeal to overturn last week's ruling that declared most tariffs illegal. Travel stocks were among the weakest performers, with Jet2 plunging 13.8% after cutting its winter 2025–26 capacity outlook...
The Nikkei 225 Index rose 1.53% to close at 42,580 while the broader Topix Index added 1.03% to 3,080 on Thursday, rebounding from the previous session's decline and tracking a tech-led rally on Wall Street. Gains were driven by Alphabet and Apple, which surged after Google's parent avoided a breakup in an antitrust case, though persistent concerns about the global economy kept sentiment cautious. A pullback in bond yields also supported equities, with Japan's 10-year yield easing from 17-year highs. On Wednesday, Bank of Japan Governor Kazuo Ueda reaffirmed that the bank's stance on rate...