Hong Kong's stock market was under pressure again at the start of the week as investors remained cautious ahead of the release of US September non-farm payrolls (NFP) data on Thursday—the first significant data since the 43-day government shutdown. Uncertainty about the Federal Reserve's interest rate direction dampened risk appetite. The Hang Seng Index fell 0.7%, extending its 1.9% decline from Friday, while Hang Seng Tech fell 0.6%. The biggest pressure came from technology and travel stocks, including Trip.com, which fell 3.9%, Baidu, which fell 2.1%, and WuXi AppTec, which fell 2.7%....
Japanese stocks rallied on Thursday (October 16th), driven by easing political uncertainty and positive sentiment in the technology sector. The Nikkei index rose 1.3% to 48,277.74, while the Topix index also gained 0.6% to 3,203.42. SoftBank shares were the biggest supporter of the Topix, rising sharply by 8.6%. Of the 1,672 stocks on the Topix, 879 rose and 711 fell. Political news that boosted the market came from Sanae Takaichi, leader of Japan's ruling party, who sought opposition support for next week's prime ministerial vote. This revived the previously fading "Takaichi trade." In the...
The Hong Kong stock market posted moderate gains on Thursday (October 16th), with the Hang Seng Index rising 96 points, or 0.37%, to 26,007. This increase occurred despite mixed performance in the technology and financial sectors. Major tech stocks like Tencent and Alibaba rose slightly, while Xiaomi fell more than 2%. In the financial sector, HSBC and AIA weakened, but Ping An Insurance and the Hong Kong Stock Exchange posted gains. Gold-linked stocks were the market's stars, boosted by the continued record-breaking global gold price. Zijin Mining and Zhaojin Mining both rallied, while a...
Asian stock markets opened higher on Thursday morning (October 16th), following a positive close on Wall Street despite volatile trading. Stocks in Japan, Australia, and South Korea rose, while index futures pointed to a weaker opening in Hong Kong. In the US, the S&P 500 index rose 1.2%, then fell, and finally closed up 0.4%. Renewed tensions between the United States and China have again affected market sentiment. US President Donald Trump stated that his country is now "locked in a trade war" with China. However, US Treasury Secretary Scott Bessent suggested a longer pause on import...
Japan's Nikkei stock index rose 0.7% to 47,997.81 at the start of trading on Thursday. This increase followed the gains seen in most US stock markets overnight. Positive sentiment on Wall Street provided additional encouragement for Japanese investors to re-enter the market. According to analysts from Citi Research, there is a strong opportunity for Japanese stocks to continue strengthening over the next 6 to 12 months. One reason is that regardless of the outcome of Japan's political landscape, the new government is likely to implement expansionary, or pro-market, economic policies. Some...
US stocks closed higher on Wednesday, despite ongoing US-China trade tensions and the ongoing government shutdown. The S&P 500 rose 0.4%, boosted by strong earnings reports from Morgan Stanley and Bank of America, which supported the financial sector. Morgan Stanley shares hit a record high, rising 4.7%, while Bank of America gained 4.4% after both banks beat third-quarter earnings expectations thanks to strong deals. The Nasdaq 100 rose 0.7%, supported by a 3% jump in the Philadelphia Semiconductor Index following better-than-expected orders and operating income from ASML, reflecting...