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 Hang Seng rose 164 points, or 0.9%, to close at 19,865 on Wednesday, snapping a three-session slide. The rally was driven by a significant increase in U.S. interest rate futures as investors anticipated a 25bps rate cut by the Fed later in the day and its outlook for a reduction in 2025. The index rebounded from its lowest level in more than a week amid indications that China will boost fiscal spending in 2025 by raising its budget deficit to a record 4% of GDP, up from 3% this year. Meanwhile, Chinese regulators have asked state-owned companies to boost their market value through...
European stocks opened higher on Wednesday as investors await the latest monetary policy decision by the U.S. Federal Reserve. Traders are pricing in a 95% chance of a quarter-point cut on Wednesday, according to CME Group's Fed Watch tool. Investors will also be looking closely at the Fed's Summary of Economic Projections and Fed Chair Jerome Powell's press conference, for clues on what might happen in the coming months. The central bank is widely expected to temper runaway expectations for further interest rate cuts in the coming year, especially as inflation remains stubbornly...
The Nikkei 225 index fell 0.72% to close at 39,082 while the broader Topix index fell 0.31% to 2,720 on Wednesday, with Japanese shares falling for a fourth straight session and tracking losses on Wall Street overnight as investors braced for the U.S. Federal Reserve's policy announcement. At home, traders analyzed data showing Japan's export growth accelerated to a three-month high in November, while imports unexpectedly fell. Attention also turned to this week's Bank of Japan policy meeting, where the central bank may hold off on raising interest rates as policymakers take time to assess...
Hong Kong stocks jumped 177 points, or 0.9%, to 19,874 in early trading on Wednesday, marking their first gain in four sessions. The gains were supported by a small rise in U.S. stock futures ahead of an anticipated Fed rate cut later in the day. The market moved away from its lowest level in more than a week, hit a day earlier, with all sectors gaining, especially technology and consumer discretionary. Source: Trading Economics
Asia-Pacific markets opened mixed on Wednesday, following losses on Wall Street that sent the Dow Jones Industrial Average down for a ninth straight day. Investors in Asia were assessing trade data from Japan ahead of the Bank of Japan's interest rate decision later this week. The country's exports grew 3.8% in November year-on-year, beating economists polled by Reuters' forecasts for a 2.8% increase. Imports, meanwhile, fell 3.8%, well below expectations for a 1% expansion. The figures put Japan's trade balance in deficit at 117.6 billion yen ($765.2 million), higher than expectations...