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 steadied after the previous day's decline, as investors cautiously awaited the Federal Reserve's interest rate decision later in the day. The Stoxx Europe 600 Index was 0.1% higher by 8:12 a.m. in London, after it fell the most in two weeks on Tuesday with tariff concerns back into focus. UK shares edged higher as data showed that inflation held at the highest level in more than one-and-a-half years in August. Fed officials are expected to lower interest rates for the first time this year to backstop a faltering US labor market. Focus will be...
The Nikkei 225 Index slipped 0.25% to 44,790 while the broader Topix Index fell 0.71% to 3,146 on Wednesday, retreating from record highs after weak trade data raised concerns over Japan's export-dependent economy. Exports edged down 0.1% in August, a smaller decline than expected but the fourth straight monthly drop, led by a 13.8% plunge in shipments to the US. Imports contracted 5.2%, moderating from July's 7.4% fall but still above the 4.1% drop forecast by analysts. Japanese stocks also tracked overnight losses on Wall Street as investors grew cautious ahead of the Federal Reserve's...
Hong Kong stocks rose 189 points, or 0.7%, to 26,626 in early trade on Wednesday, rebounding from a muted close the day before as gains in tech and consumer shares lifted sentiment. The benchmark index hit its highest in over four years ahead of a widely expected Fed rate cut later in the day and the prospect of further easing this year. Investors also awaited Friday's call between President Trump and Xi Jinping after Washington and Beijing agreed on a framework to place TikTok under U.S.-controlled ownership. Optimism over China's progress in AI, semiconductors, and drug innovation also...
Asian stocks are poised for a sluggish start following a tepid Wall Street session, as investors held back ahead of Wednesday's Federal Reserve interest-rate decision. Equity-index futures signaled modest losses in Sydney and Tokyo, though Hong Kong looked set to open higher, after the S&P 500 slipped 0.1% and the Nasdaq 100 ended a nine-day winning streak. Gold briefly topped $3,700 an ounce, buoyed by a softer US dollar that fell to its weakest level in more than 10 weeks. Attention in Asia will also be on a 20-year government bond...
Japanese stocks are lower as the yen strengthened against the dollar overnight due to expectations for a Fed rate cut later Wednesday. Financial stocks are leading declines after U.S. Treasury yields dropped overnight. Japan Post Bank is down 2.1% and Dai-ichi Life Holdings is 2.7% lower. USD/JPY is at 146.27, down from 146.87 as of Tuesday's Tokyo stock market close. Investors are focusing on any developments related to the leadership election for the ruling Liberal Democratic Party of Japan. The Nikkei Stock Average is down 0.6% at 44618.33. Source: Bloomberg