The Hang Seng Index plunged 454 points, or 1.7%, on Tuesday (November 18th), its sharpest one-day drop since mid-October, and closed at a two-week low of 25,930. The index fell for a third straight session, weighed down by broad declines across sectors. Sentiment soured due to the global market slump, with traders anxiously awaiting Nvidia's earnings report amid valuation concerns and the delayed release of US data, including the September employment report. Technology stocks slumped nearly 2% as the recent rally showed signs of exhaustion. Property, financial, and consumer discretionary...
The Hang Seng Index rose 43 points, or 0.2%, to close at 25,166 on Wednesday, reversing early losses and ending a four-day losing streak. Market sentiment improved as Chinese equities rallied, boosted by the People's Bank of China's decision to maintain its benchmark interest rate-a move expected to inject liquidity and counter deflationary pressures. Meanwhile, trading and listing activity in Hong Kong continued to increase, supported by policy measures to stimulate the capital market and simplify IPO procedures. Investors tried to brush aside reports that the US was intensifying scrutiny...
European stocks fell on Wednesday (August 20), with the Stoxx 50 down 0.4% and the Stoxx 600 down 0.3%, led by defense stocks. The Stoxx Europe Aerospace & Defense Index fell 0.9% after a 2.6% drop on Tuesday, as optimism over a Ukraine ceasefire weighed on the sector. Germany's Rheinmetall and Hensoldt each fell nearly 2%, while Britain's Rolls-Royce and Qinetiq also fell around 2%. The declines followed US President Trump's call for Putin and Zelenskiy to show "flexibility" and hold a bilateral summit, raising speculation of a breakthrough in peace talks. Elsewhere, UK inflation...
Japanese stocks weakened after the close of trading on Wednesday (August 20th), as weakness in the Paper & Pulp, Transportation, and Communications sectors led to declines. At the close of trading in Tokyo, the Nikkei 225 fell 1.42%. The best-performing stocks on the Nikkei 225 were Pacific Metals Co., Ltd. (TYO:5541), which rose 4.89% or 91.00 points to trade at 1,953.00. Meanwhile, Oriental Land Co. Ltd. (TYO:4661) rose 4.47% or 157.00 points to close at 3,672.00, and Keisei Electric Railway Co., Ltd. (TYO:4661) rose 4.47% or 157.00 points to close at 3,672.00. (TYO:9009) rose 3.96%,...
Equities in Hong Kong dropped 105 points or 0.4% to 25,019 in Wednesday morning trade, slipping for the fifth session after a tech-led selloff on Wall Street ahead of the Fed's July meeting minutes and the Jackson Hole meeting. Sentiment remained fragile after Tuesday's data showed China's youth unemployment hit an 11-month high of 17.8% in July, with weak demand in tech, real estate, and education sectors. Losses were contained by the PBoC's move to keep key lending rates at record lows, in line with consensus, as Beijing sought to bolster liquidity and counter disinflation. Meanwhile,...
Japanese equities fell on Wednesday after the country saw its steepest export drop in over four years. Exports fell 2.6% in July as US tariffs weighed on global commerce, the Ministry of Finance reported Wednesday. The Nikkei 225 fell 145.63 points to open at 43,400.66, tracking a sharp retreat on Wall Street led by heavyweight technology shares. Investor confidence wavered over concerns that the tech rally had advanced too far, with all eyes on the upcoming Jackson Hole symposium for clues on interest rates. Concurrently, the US announced plans to increase scrutiny of imports from...