The S&P 500 fell on Tuesday, a day after the broad market index and Nasdaq Composite hit fresh records, as traders weighed the latest earnings reports and new trade developments. The S&P 500 ticked lower by 0.3%, while the Nasdaq slipped 0.9%. The Dow Jones Industrial Average rose 74 points, or 0.2%. Shares of aerospace and defense name Lockheed Martin were down almost 7% after the company's revenue for the second quarter missed analyst estimates. Similarly, Philip Morris lost 6% after the tobacco company's second-quarter revenue also missed expectations. So far, 88 S&P 500...
The Hang Seng jumped 215 points, or 1.1%, to close at 20,098 on Tuesday, rising for a second session and hitting its highest in more than a week amid solid gains across sectors. Investors flocked to riskier assets after China reportedly planned to sell a record CNY3 trillion worth of special government bonds in 2025 to boost its economy. The funds raised from the bonds will be used for consumption subsidies, upgrading business equipment and investing in key technologies and advanced manufacturing. Positive reports from Wall Street on Monday also boosted sentiment, along with reports that...
The Nikkei 225 dipped 257 points or 0.7% to 39,052 around noon on Tuesday, reversing from a surge in the prior session. The decline reflected weakness in tech services, communications, and consumer services. Traders digested a media report that the Committee on Foreign Investment in the US has told the White House it is unable to reach a consensus on national security risks involved in Nippon Steel's bid for US Steel. Meanwhile, the Japan Fair Trade Commission is set to punish Google for unfair practices. The IT company can be fined up to JPY 300 million, local media said. Limiting...
Hong Kong stocks surged 259 points, or 1.3%, to 20,143 during Tuesday morning trade, marking a second straight session of gains. The gains followed a rally in U.S. tech stocks that boosted Wall Street overnight. The Hang Seng hit its highest level in more than a week, with gains across all sectors as mainland markets reversed losses from the previous session. Investors eagerly increased their positions following reports that U.S. President-elect Trump said in a speech that he opposed the idea of popular social media app TikTok leaving the U.S. market. Further gains were capped by a...
The Shanghai Composite Index opened 0.2% higher at 3,358.35 in Shanghai. Bank of China Ltd. contributed the most to the index gain, increasing 0.8%. Jilin Joinature Polymer Co. had the largest increase, rising 13.8%. In early trading, 1,376 of 2,240 shares rose, while 789 fell; 4 of 5 sectors were higher, led by industrial stocks. Source: Bloomberg
Japan's stocks fluctuate as semiconductor-related companies followed their US peers higher, while real estate names and other firms dependent on domestic demand fell. Topix rose 0.1% to 2,729.71 as of 9:17 a.m. Tokyo time Nikkei 225 advanced 0.1% to 39,215.63 In a thin US trading session at the start of a holiday-shortened week, the S&P 500 finished near session highs. Honda Motor contributed the most to the Topix's gain, increasing 13% after announcing it will buy back as much as ¥1.1 trillion of shares. Honda has sketched plans for a deal that amounts to an acquisition of Nissan...