The Hong Kong stock market opened on a positive note today (22 July), with the Hang Seng Index rising by 30 points, or 0.12%, to 25,024 points. The China Enterprises Index gained 11 points, or 0.13%, to 9,051 points, while the Technology Index increased by 4 points, or 0.08%, to 5,589 points. Among financial stocks, HSBC Holdings rose by 0.81% to HK$99.25, Ping An Insurance recorded a slight increase of 0.09%, and Hong Kong Exchanges and Clearing edged up by 0.14%. However, AIA Group saw a decline of 0.58%. Major tech stocks showed mixed performances. Xiaomi Group advanced by 0.26%,...
European stocks held their muted momentum and closed near the flatline on Thursday as markets digested the European Central Bank's rate cut. The Stoxx 50 added 0.2% to close at 4,970, while the pan-European Stoxx 600 dropped 0.2% to close at 519. The ECB delivered 25bps cuts in its three main rates, as largely expected, and omitted previous signals that monetary policy must remain restrictive to fight inflation, stoking expectations of more rate cuts next year. Tech and luxury performed well, with SAP and ASML adding over 1% each amid hopes of strong demand and good trade relations with...
The Hang Seng surged 242 points, or 1.2%, to close at 20,397 on Thursday, reversing losses in the previous two sessions amid expectations of strong policy support measures from China's ongoing annual Central Economic Work Conference. Earlier this week, the Politburo recommended a "moderately loose" monetary policy to support the sluggish economy, though it did not provide details. However, a significant drop in U.S. futures capped further gains, following a record close on Wall Street's Nasdaq on Wednesday, as U.S. inflation matched expectations ahead of next week's FOMC meeting. While...
The Nikkei 225 index jumped 1.21% to close at 39,849 while the broader Topix index jumped 0.86% to 2,773 on Thursday, with Japanese shares hitting a multi-month high and tracking a rally on Wall Street overnight after U.S. inflation data appeared to pave the way for a Federal Reserve interest rate cut. Markets are now pricing in a near 100% chance that the Fed will deliver another 25 basis point cut next week. Meanwhile, the outlook for Bank of Japan monetary policy remains highly uncertain, with markets divided over whether the central bank will raise rates again in December or January. All...
European equity markets were poised to open little changed on Thursday as investors awaited the European Central Bank's latest monetary policy decision. The ECB is widely expected to implement another 25 basis point rate cut, with traders also focusing on its quarterly growth and inflation projections. The Swiss National Bank is also anticipated to announce another rate cut. Meanwhile, the latest US inflation data came in line with expectations, setting the stage for the Federal Reserve to reduce borrowing costs further next week. In premarket trade, Euro Stoxx 50 and Stoxx 600 futures...
Hong Kong stocks rose 61 points, or 0.3%, to 20,214 in early trade on Thursday, snapping losses from the previous two sessions. The gains followed the Nasdaq's overnight rise to a record high, with soft U.S. inflation in November strengthening bets for a Fed rate cut later this month. Meanwhile, U.S. President-elect Donald Trump has invited Chinese President Xi Jinping to attend his inauguration in Washington next month, CBS News said. Traders were keeping an eye on China's two-day Central Economic Work Conference that is expected to set policy for next year, following a stimulus signal from...