The Hang Seng climbed 233 points, or 0.9%, to close at 26,855 on Tuesday, reversing early losses to hit a two-week high on broad-based gains. The index jumped 7% in September, its fifth straight monthly advance, and posted a third quarterly gain of 11.6%, fueled by AI optimism, strong inflows, and bets of fresh policy support from Beijing ahead of the October plenum. Still, upside was capped by U.S. political uncertainty, with Vice President Vance warning the government was "headed to a shutdown" amid stalled budget talks. Profit-taking also weighed as traders braced for China's week-long...
European bourses opened September in positive territory, with both the STOXX 50 and STOXX 600 rising nearly 0.3% after modest gains in August. Trading is expected to remain subdued today, as US markets are closed for Labor Day and few economic data releases are scheduled, aside from stronger-than-expected Q2 GDP growth in Turkey. Investors are now looking ahead to this week's US jobs report, which will help shape expectations for the Federal Reserve's next policy move. On the corporate front, Novo Nordisk shares gained 2.9% after the company reported that its weight-loss drug Wegovy reduces...
Japan stocks were lower after the close on Monday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 fell 1.22%. The best performers of the session on the Nikkei 225 were Olympus Corp. (TYO:7733), which rose 4.64% or 80.00 points to trade at 1,802.50 at the close. Meanwhile, Dentsu Inc. (TYO:4324) added 3.59% or 105.00 points to end at 3,029.00 and Eisai Co., Ltd. (TYO:4523) was up 3.55% or 161.00 points to 4,699.00 in late trade. The worst performers of the session were Advantest Corp. (TYO:6857), which fell...
Following a four-month streak of gains, the Hong Kong stock market has continued its upward momentum into September. The Hang Seng Index opened strongly, climbing by 430 points or 1.71% to reach 25,508 points. Meanwhile, the Hang Seng China Enterprises Index rose by 136 points, equivalent to a 1.52% increase, settling at 9,084 points. The Technology Index also experienced a boost, gaining 117 points or 2.07% to stand at 5,792 points. Technology stocks exhibited robust performance across the board. Tencent saw an increase of 1.4%, while Alibaba surged by an impressive 14.9% following its...
Japanese equities opened lower as investors steered clear of chip and tech shares following declines in Nvidia and Dell Technologies on the U.S. stock market over the weekend. The Topix Index was virtually unchanged at 3,074.18 as of 9:35 a.m. Tokyo time, while the Nikkei declined 1.1% to 42,258.84. Out of 1,680 stocks in the index, 1,023 rose and 573 fell, while 84 were unchanged. Selling pressure increased for electronics, machinery and precision equipment shares, while non-ferrous metal stocks took a hit. Domestic demand sectors like pharmaceuticals and...
Asia-Pacific markets traded mixed Monday as investors assess China's RatingDog manufacturing data for August. The metric - which was previously known as the Caixin Purchasing Managers' Index - came in at 50.5, compared to a contraction of 49.5 the month before. Data released Sunday showed that the country's manufacturing PMI data came in at 49.4 in August, compared to 49.3 the month before. Investors are also assessing the developments in India and China relations, after leaders from both countries agreed that they are development partners, not rivals during a two-day meeting of the...