The Hang Seng Index opened higher today, gaining 70 points or 0.27%, to reach 25,458. Meanwhile, the China Enterprises Index rose by 22 points or 0.24%, closing at 9,173, and the Hang Seng Tech Index increased by 21 points or 0.37%, settling at 5,699. Technology stocks displayed mixed movements. Tencent remained unchanged, Alibaba rose by 1.2%, Meituan edged up 0.4%, Xiaomi Group dipped slightly by 0.1%, and Kuaishou gained 0.6%. Financial stocks showed general stability. HSBC Holdings recorded no change, AIA Group rose by 0.5%, Ping An Insurance increased by 0.4%, and the Hong Kong...
European equity markets opened flat on Tuesday, the last trading day of 2024, as traders wrapped up activity ahead of the New Year holiday. Most regional markets are scheduled to close early or remain closed until Jan. 2. Meanwhile, market participants are closely watching how significant U.S. policy shifts, including tariffs, deregulation and tax reform under President-elect Donald Trump, could affect Europe in the year ahead. European stocks remain on track to post modest annual gains. In Asia, official data showed that China's factory activity expanded at a slower pace in December,...
Asian stocks eased on Tuesday in cautious end-of-year trading that has seen investors scale back bets of deep U.S. rate cuts in 2025 and brace for the incoming Trump administration, with the dollar standing tall against most other currencies. Volumes were light with a holiday for the New Year looming and Japan on holiday for the rest of the week, with the Santa-rally losing some steam as elevated Treasury yields weigh on high equity valuations and boost the greenback. MSCI's broadest index of Asia-Pacific shares outside Japan nudged down 0.2% but was set for an 8% gain in 2024, its second...
Stocks in Hong Kong rose 84 points or 0.4% to 20,123 in morning deals on the last trading day of 2024, swinging from a weak session the prior day. This rise was driven by strength in property, consumers, and financials. Sentiment was uplifted by official PMI data from China, indicating that factory activity in December grew for the third month, despite a slower rate of increase. Meanwhile, the service sector rose the most in nine months, following stabilization in November. Some early movers included China Mengniu Dairy (4.2%), Haidilao Intl. (4.0%), and Pop Mart Intl. (3.4%). The Hang...
Stocks moved lower Monday in one of the final trading sessions of 2024, as a banner year for investors appears to be ending on a sour note. The Dow Jones Industrial Average lose 418.48 points, or 0.97%, to close at 42,573.73. The S&P 500 fell 1.07% to 5,906.94, and the Nasdaq Composite slid 1.19% to 19,486.78. Trading was choppy throughout the day, and the Dow was down more than 700 points at session lows. There was no apparent news catalyst for Monday's decline, and trading was expected to be light given the shortened week. The SPDR S&P 500 Trust (SPY) had about 47 million shares...
European markets opened in negative territory on Monday, which will be the region's last full trading session of the year. The pan-European Stoxx 600 index fell about 0.4% shortly after the opening bell, with all sectors and major bourses in negative territory. Industrials, media and technology stocks led the declines. Trading is expected to be subdued in Europe on Monday, as markets prepare to end the New Year holiday. Over the weekend, European Central Bank Governing Council member Robert Holzmann told Austrian newspaper Kurier that the institution could slow down its interest...