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%,...
Asian stocks eased on Tuesday in cautious end-of-year trading that has seen investors scale back bets of deep U.S. rate cuts in 2025 and brace for the incoming Trump administration, with the dollar standing tall against most other currencies. Volumes were light with a holiday for the New Year looming and Japan on holiday for the rest of the week, with the Santa-rally losing some steam as elevated Treasury yields weigh on high equity valuations and boost the greenback. MSCI's broadest index of Asia-Pacific shares outside Japan nudged down 0.2% but was set for an 8% gain in 2024, its second...
Stocks in Hong Kong rose 84 points or 0.4% to 20,123 in morning deals on the last trading day of 2024, swinging from a weak session the prior day. This rise was driven by strength in property, consumers, and financials. Sentiment was uplifted by official PMI data from China, indicating that factory activity in December grew for the third month, despite a slower rate of increase. Meanwhile, the service sector rose the most in nine months, following stabilization in November. Some early movers included China Mengniu Dairy (4.2%), Haidilao Intl. (4.0%), and Pop Mart Intl. (3.4%). The Hang...
Stocks moved lower Monday in one of the final trading sessions of 2024, as a banner year for investors appears to be ending on a sour note. The Dow Jones Industrial Average lose 418.48 points, or 0.97%, to close at 42,573.73. The S&P 500 fell 1.07% to 5,906.94, and the Nasdaq Composite slid 1.19% to 19,486.78. Trading was choppy throughout the day, and the Dow was down more than 700 points at session lows. There was no apparent news catalyst for Monday's decline, and trading was expected to be light given the shortened week. The SPDR S&P 500 Trust (SPY) had about 47 million shares...
European markets opened in negative territory on Monday, which will be the region's last full trading session of the year. The pan-European Stoxx 600 index fell about 0.4% shortly after the opening bell, with all sectors and major bourses in negative territory. Industrials, media and technology stocks led the declines. Trading is expected to be subdued in Europe on Monday, as markets prepare to end the New Year holiday. Over the weekend, European Central Bank Governing Council member Robert Holzmann told Austrian newspaper Kurier that the institution could slow down its interest...
The Hang Seng fell 49 points, or 0.24%, to close at 20,041 on Monday, following a lackluster performance in the previous session. Losses were led by the technology, property and consumer discretionary sectors as traders remained cautious ahead of China's official December PMI data, due for release on Tuesday. China's economic recovery remained uneven in November, with factory activity expanding for a second month while the services sector stagnated. Meanwhile, US futures plunged as Wall Street prepared for the final trading week of 2024, amid rising US Treasury yields and concerns over the...