The Hang Seng Index opened 218 points, or 0.87%, higher on Wednesday, reaching 25,348 points. The China Enterprises Index also rose by 80 points, or 0.89%, to 9,156 points, while the Hang Seng Tech Index climbed 69 points, or 1.23%, to 5,675 points. Major technology stocks saw gains across the board. Meituan and Trip.com Group both surged 1.55%, Kuaishou rose 1.24%, Alibaba gained 0.85%, Tencent added 0.76%, and Xiaomi increased by 0.69%. Source: Dimsumdaily
European stocks closed mostly lower on Monday as markets assessed the level of US tariffs against major trading partners. The STOXX 50 dropped 0.4% to 5,305 and the STOXX fell 0.4% to 542. US officials said negotiations with major partners such as China and the European Union are making progress, while Canada scrapped its planned Digital Services Tax following President Trump's announcement over the weekend that he would terminate all trade discussions with Canada. Monday also marked the official start of the UK-US trade deal that was brokered last month. On the data front, inflation in...
US stocks were firmly higher on Monday, extending the sharp gains from the previous week as the softer stance on tariffs by the US government allowed markets to focus on signs of multiple rate cuts by the Fed this year. The S&P 500 and the Nasdaq 100 advanced around 0.5% each to reach new record highs, while the Dow added over 200 points. White House officials announced that the US and China had formally reached an agreement to prevent the return of tariff exchanges that topped levies at 145%. Additionally, President Trump noted that he is open to extending the July 9th deadline for...
The Hang Seng fell 212 points, or 0.9%, to close at 24,072 on Monday, down for a third straight session as all sectors declined. Sentiment was weighed down by a third straight monthly decline in China's manufacturing sector in June, ahead of similar results from a private survey due on Tuesday. Financials led the decline, followed by property, technology and consumer discretionary. Significant losers included Bank of China Hong Kong (-5.5%), Li Auto (-3.3%), Meituan (-2.9%) and Tencent Hlds. (-1.5%). On the positive side, Laopu Gold surged to a record high, buoyed by high gold prices, even...
European stocks opened in the green on Monday, with the Stoxx 600 index up 0.1% in early deals, building on last week's gains. Global sentiment appears broadly robust, with Asia-Pacific stocks turning mixed but U.S. futures remaining higher. In Europe, sectors are mixed, with autos down 0.6% and banks slipping 0.25% as financial services gain 0.6%. Beneficiaries of the U.K.-U.S. trade deal, which took effect this morning, are slightly higher, having already notched strong gains on the previous announcement. Those include engine-maker Rolls-Royce, up 0.6%, and German automaker BMW,...
Japanese equities rose for a fifth day after trade negotiator Ryosei Akazawa's extension of his US visit spurred hopes for a deal. Sentiment was also supported by the S&P 500 Index, which reached a new record on Friday. Topix Index climbed 0.4% to close at 2,852.84, just 2.6% below its previous all-time high set in July 2024. SoftBank Group Corp. contributed the most to the Topix Index gain, increasing 4.3%. Out of 1,681 stocks in the index, 897 rose and 705 fell, while 79 were unchanged. Nikkei advanced 0.8% to 40,487.39. The Topix Index rounded...