The Hang Seng Index opened 218 points, or 0.87%, higher on Wednesday, reaching 25,348 points. The China Enterprises Index also rose by 80 points, or 0.89%, to 9,156 points, while the Hang Seng Tech Index climbed 69 points, or 1.23%, to 5,675 points. Major technology stocks saw gains across the board. Meituan and Trip.com Group both surged 1.55%, Kuaishou rose 1.24%, Alibaba gained 0.85%, Tencent added 0.76%, and Xiaomi increased by 0.69%. Source: Dimsumdaily
The S&P 500 and Nasdaq 100 closed at record highs to kick off December trading, gaining 0.2% and 1.1%, respectively, driven by large-cap tech stocks, while the Dow Jones slipped 128 points. Leading sectors included communication services, consumer discretionary, and technology, while real estate lagged. Tesla rose 3.4% after unveiling an update to its "Full Self-Driving" software, Super Micro Computer surged 28.7% following the validation of its financial reports, and Amazon gained 1.4% amid strong Cyber Monday momentum. Investors are closely monitoring upcoming economic data,...
European stocks closed higher on Monday, with the Stoxx 50 rising 1% and the broader Stoxx 600 gaining 0.5%, driven by strong performances from major corporates. Novo Nordisk climbed 1.9%, LVMH gained 2.6%, SAP rose 1.8%, ASML Holding advanced 1%, and Hermes International surged 4.5%. However, Stellantis shares dropped 6.3% following CEO Carlos Tavares' resignation, citing differences with the board amid struggles in the US market. Investor sentiment was clouded by political uncertainty in France, with ongoing budget tensions raising concerns about a potential no-confidence vote. Economic...
Stocks in the US were higher on the first trading day of December, with the S&P 500 rising 0.2%, the Dow Jones adding 40 points and the Nasdaq gaining 0.6%. Traders await key economic data due this week including the ISM PMIs, JOLTs and the jobs report to assess the US economic performance and the Fed's plans for December. The political situation remains in the spotlight with Donald Trump requiring a commitment from BRICS that they will neither create a new currency, nor back any other currency to replace the US dollar or they will face 100% tariffs. Consumer discretionary was by far...
The Hang Seng rose 127 points or 0.65% to close at 19,550 on Monday, marking gains for the second session amid strength across sectors. Upbeat manufacturing data from China, provided by both officials and a private survey, boosted sentiment as stimulus measures initiated in September began to take effect. Meanwhile, bets increased that the PBoC might roll out more policy easing, potentially including further reductions in the RRR and injecting more liquidity into the markets. Locally, Hong Kong's retail sales fell the least in eight months in October, with a government spokesperson saying...
European equity markets are set for a sharply lower open to start the new trading week and month, with cautious sentiment prevailing. European stocks lagged global peers in November, as concerns mounted that U.S. President-elect Donald Trump might target Europe's economy and companies with tariffs. Investors will be focused on upcoming manufacturing PMI reports from across the region, along with Italian GDP data. In corporate news, Stellantis CEO Carlos Tavares abruptly resigned on Sunday, citing "different views" with the board. In pre-market trading, Euro Stoxx 50 and Stoxx 600 futures...