Hong Kong stocks opened higher on Tuesday, following Wall Street's rally, amid hopes of fresh stimulus after a report showed China's manufacturing activity remained weak. The Hang Seng Index rose 0.4% to 26,736.44, while Hang Seng Tech added 1%. Technology and e-commerce stocks led the gains, with Alibaba surging nearly 2%, JD.com rising 0.8%, and Semiconductor Manufacturing International surging 3.7%. Meanwhile, Baidu and Trip.com shares weakened, while New Oriental plunged nearly 2%. Official data showed China's manufacturing PMI in September stood at 49.8, marking the sixth consecutive...
Shares in Hong Kong rose 100 points or 0.5% to 19,260 in early trade on Wednesday following a muted session the day before, mainly supported by gains in property, tech, and consumers. An upbeat session on Wall Street overnight uplifted sentiment, with the Fed's latest minutes being interpreted dovishly ahead of the October PCE index release. Investors were also hopeful that the PBoC would further lower commercial banks' RRR in December to bolster economic recovery in China, following two reductions totaling 100bps in September and February. Limiting the rise was fresh data showing a...
The Nikkei 225 Index dropped 0.5% to below 38,300, while the broader Topix Index lost 0.4% to 2,678 on Wednesday, extending losses from the previous session as the yen continued to strengthen amid speculation that the Bank of Japan may raise interest rates again next month. A stronger yen dampens the profit outlook for Japan's export-driven industries and makes Japanese assets more expensive for foreign investors. Traders are also awaiting the latest Tokyo inflation data, which is seen as a leading indicator for nationwide price trends. Export-heavy auto and consumer stocks led the decline,...
Dow Jones Industrial Average jumping to fresh highs, as investors shook off the threat of new tariffs from President-elect Donald Trump. The blue-chip Dow advanced 123.74 points, or 0.28%, to close at 44,860.31, reversing course after dropping more than 300 points at session lows. The S&P 500 added 0.57% to 6,021.63. Both the Dow and S&P 500 notched new intraday and closing records. The Nasdaq Composite jumped 0.63% to 19,174.30. Trump on Monday night called for a 25% tariff on products from Mexico and Canada, as well as an additional 10% levy on Chinese goods. He has already said...
European stock markets closed lower in Tuesday trading as the Stoxx Europe was down 0.57%, Germany's DAX dropped 0.56%, the FTSE in London fell 0.40%, France's CAC lost 0.87%, and the Swiss Market Index closed 0.39% lower. The European Union has agreed to new carbon market rules and new climate finance goal, the EU announced on Saturday. The deal is intended to provide for more countries to contribute finance based on their growing emissions and economic weight. And in corporate news, Luxembourg-based steel producer ArcelorMittal (MT) said Tuesday that it is slowing its carbon reduction...
The benchmark S&P 500 and the Nasdaq opened higher on Tuesday, with investors assessing Donald Trump's tariff pledges on top trade partners of the U.S. and awaiting minutes from the Federal Reserve's latest meeting. The Dow Jones Industrial Average (.DJI), fell 121.7 points, or 0.27%, at the open to 44,614.89. The S&P 500 (.SPX), rose 12.7 points, or 0.21%, at the open to 6,000.03, while the Nasdaq Composite (.IXIC), rose 54.2 points, or 0.28%, to 19,109.082 at the opening bell. Source : Reuters