The Hong Kong stock exchange opened lower on Tuesday, following negative pressure in global markets as investors reassessed the valuation of the artificial intelligence (AI) sector and awaited the direction of US interest rate policy. The Hang Seng Index (HSI) fell around 1.3% at the start of the session, moving to around 26,027 points. This decline extended the correction trend in the Asian region, in line with the decline on Wall Street. The technology sector was again the biggest drag on the index, with shares of giants such as Xiaomi, Li Auto, and Meituan each falling between 2% and...
US stocks edged higher on Tuesday, with the three major averages up around 0.1%, as investors continued to bet on a Federal Reserve rate cut next week. Markets are also awaiting the BLS's preliminary revision to employment levels for the 12 months through March, with most analysts expecting a downward adjustment—pointing to a sharper slowdown in the labor market and bolstering hopes for rate cuts, including a 50 bps move next week. Inflation data will also be in focus this week, with both CPI and PPI reports due. Energy was the top performing sector while materials lagged. On the corporate...
The Hang Seng Index rose 304 points, or 1.2%, to close at 25,938 on Tuesday (September 9), extending its gains for a third session and reaching a four-year high thanks to broad sector strength. Sentiment was boosted amid speculation of a US interest rate cut as early as next week following weak US employment data, alongside Wall Street's gains that pushed the Nasdaq to a record close on Monday. Property stocks led the rally, rising 1.8% after Shenzhen eased restrictions on home purchases. Sentiment was also boosted by reports that China renewed bilateral currency swap agreements with...
European stocks edged higher on Tuesday, extending gains into a second session, with the STOXX 50 up 0.2% and the STOXX 600 advancing 0.5%. Investors weighed a fresh round of corporate news while keeping a close watch on France's deepening political turmoil, after yet another prime minister lost a confidence vote on Monday, which will force President Macron to appoint the country's fifth PM in less than two years. Markets also face a heavy week of economic events, including the ECB's policy decision, US inflation data, and revisions to payrolls. On the corporate front, Novartis (-0.4%)...
Japan stocks were lower after the close on Tuesday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 lost 0.41%. The best performers of the session on the Nikkei 225 were Advantest Corp. (TYO:6857), which rose 6.45% or 770.00 points to trade at 12,710.00 at the close. Meanwhile, Tokuyama Corp. (TYO:4043) added 6.18% or 216.00 points to end at 3,711.00 and Kanadevia Corp (TYO:7004) was up 3.27% or 34.00 points to 1,075.00 in late trade. The worst performers of the session were Mitsui Mining and Smelting Co....
Hong Kong stocks jumped 358 points or 1.4% to 25,988 in early deals on Tuesday, rising for the third straight session to their highest level since October 2021 as all sectors advanced. Optimism from Wall Street Monday lifted sentiment ahead of expected Fed rate cuts later this month. Property stocks in Hong Kong led gains, climbing about 2% after Shenzhen city eased home purchase curbs last week. Tech, financials, and consumer shares also rose, supported by a third straight advance in mainland markets as Beijing moves toward a record trade surplus despite August exports hitting a six-month...