The Hang Seng Index started the day with a decline of 135 points, or 0.53%, settling at 25,531 points. The China Enterprises Index dropped 41 points, or 0.45%, to 9,216 points, while the Hang Seng Tech Index fell 29 points, or 0.51%, to 5,713 points. Technology stocks faced downward pressure, with Kuaishou sliding by 1.57%, Alibaba dropping 1%, Tencent falling 0.9%, and Trip.com Group losing 0.39%. Xiaomi Group recorded a marginal decline of 0.09%, while Meituan remained unchanged. Financial stocks showed a mixed trend. AIA Group saw the largest drop, down 1.89%, followed by Ping An...
The Nikkei 225 index rose 0.3% to above 39,200, while the broader Topix index gained 0.4% to 2,745 on Tuesday, extending gains from the previous session. The rally was driven by optimism following China's announcement of "more proactive" fiscal measures and "moderately" loose monetary policy, which boosted market sentiment across the region. Japanese stocks also defied a selloff on Wall Street overnight, with major U.S. technology names facing pressure. At home, investors are eyeing business sentiment data later this week to gauge the health of the Japanese economy. Market expectations...
Asia-Pacific markets opened mostly higher Tuesday, following losses on Wall Street that saw the S&P 500 and Nasdaq Composite pull back from record highs ahead of key inflation data. Traders in Asia assessed Beijing's announcement of "more proactive" fiscal measures and "moderately" looser monetary policy next year aimed at boosting domestic consumption. The news, which came from an official readout late Tuesday after mainland China market had closed, sent Hong Kong's Hang Seng index nearly 3% higher. Hang Seng index futures were at 21,359, higher than the HSI's last close of...
Wall Street's main indexes finished lower on Monday, fueled by a decline in AI leader Nvidia that weighed on tech stocks, as investors looked ahead to a crucial inflation report set for later this week. Nvidia (NVDA.O), opens new tab fell after China's market regulator launched an investigation into the chipmaker over suspected violation of antimonopoly law, dragging down the information technology sector (.SPLRCT), opens new tab. According to preliminary data, the S&P 500 (.SPX), opens new tab lost 35.69 points, or 0.60%, to end at 6,053.68 points, while the Nasdaq Composite (.IXIC),...
The S&P 500 and Nasdaq Composite pulled back from record highs Monday, with tech shares struggling and investors looking ahead to key inflation data due out this week. The tech-heavy Nasdaq and the broad market S&P 500 each lost 0.4%. The Dow Jones Industrial Average, on the other hand, hovered around the flatline. Nvidia shares dropped around 3% on the heels of a Chinese regulator announcing that it's investigating the AI chip darling for potentially violating the country's antimonopoly law. The stock has been a bellwether for the artificial intelligence trade, up about 179% in...
The Stoxx 50 and Stoxx 600 edged up on Monday, as investors prepared for a week of key developments, including the ECB's anticipated 25-basis-point rate cut on Thursday, its fourth this year. Markets are keen for hints on whether the ECB might accelerate rate cuts to aid Europe's struggling economy. Sentiment was further lifted by China's pledge to implement "moderately loose" monetary policies and "more proactive" fiscal measures, fueling hopes of increased domestic consumption and benefiting European luxury stocks like Kering, which jumped up to 4%. Volkswagen rose over 1% amid ongoing...