Hong Kong stocks rose modestly on Tuesday, as investors positioned ahead of the Politburo meeting in China that could set the economic tone for the rest of the year, while sentiment remained upbeat following the launch of the world's largest hydropower dam project on the eastern rim of the Tibetan Plateau. The Hang Seng Index gained 135.89 points, or 0.5%, to close at 25,130.03, while the Hang Seng China Enterprises Index (HSCEI) added 35.40 points, or 0.4%, to 9,075.60. Focus is now on the upcoming Politburo meeting, convened by Chinese President Xi Jinping later this month, which could...
The Nikkei 225 jumped 1.1% to above 38,900 while the broader Topix index rose 1% to 2,728 on Friday, with Japanese shares snapping a three-day slide as solid GDP data lifted market sentiment. Japan's economy expanded 0.3% year-on-year in the third quarter, ending two straight quarters of declines amid further improvements in private consumption and government spending. Local shares also benefited from a sharply weaker yen that boosted the profit outlook for Japan's export-driven industries. Meanwhile, investors remained cautious after U.S. Fed Chair Powell said that strong U.S. economic...
Stocks extended losses after Jerome Powell signaled the Federal Reserve is in no rush to cut rates as the economy is holding up. The equity market closed near session lows, US two-year yields spiked and the dollar climbed after Powell's remarks. Traders dialed back bets on a December rate reduction to around 55% — from 80% in the previous day. "Powell's speech was hawkish," said Neil Dutta at Renaissance Macro Research. "I think they will still cut in December since policy remains restrictive and they want to get to...
European stocks extended morning gains and closed sharply higher on Thursday, trimming the losses from the prior two sessions with support from a batch of earnings, while markets continued to gauge the impact that the new Republican-led US government may have on the global corporate sector. The Stoxx 50 added 1.9% to close at 4,830, and the Stoxx 600 rose 1.1% to close at 507. ASML, the Stoxx 50's heaviest company, soared 7% after the company forecasted sales to grow by 8% to 14% over the coming five years. Also, Siemens added 4.9% after posting a higher-than-expected profit although it...
Stocks struggled to make headway, following a furious post-election rally that spurred calls for a breather amid signs of buyer fatigue. Equities wavered near all-time highs, with the S&P 500 remaining close to technically overbought levels. That's after a surge that drove the benchmark gauge up 25% this year. Several measures highlight strong trader optimism, including the latest figures from the American Association of Individual Investors, which showed a spike in bullish sentiment last week. In the run-up to Jerome Powell's speech on Thursday, traders...
The Hang Seng plunged 388 points, or 2.0%, to close at 19,436 on Thursday, marking its fifth session of declines and hitting a seven-week low amid sharp declines across all sectors. It was the first time the Hang Seng remained fully open despite the bad weather, with many participants reluctant to enter any trades. Traders shrugged off China's latest efforts to reverse a property slump through tax incentives on home and land transactions. Concerns about Sino-U.S. tensions also grew as China tightened its grip on rare earth exports. The technology index slumped about 3%, taking its losses...