The Hang Seng Index rose for the second day, climbing 0.7%, or 168.48 to 24,994.14 in Hong Kong. The index advanced to the highest closing level in at least a year. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 1.8%. China Petroleum & Chemical Corp. had the largest increase, rising 5.5%. Today, 58 of 85 shares rose, while 24 fell; 3 of 4 sectors were higher, led by commerce and industry stocks. Source : Bloomberg
European markets were slightly lower on Wednesday at the session's open, as traders awaited the latest U.S. inflation data. The pan-European Stoxx 600 index traded down 0.2% shortly after the opening bell, with most sectors in negative territory. Zara owner Inditex posted interim nine-month results, flagging that its revenues between Nov. 1 and to Dec. 9 jumped 9% from the same period of last year on a constant currency basis. The U.S consumer price index data will likely influence how the Federal Reserve proceeds on interest rates at its Dec. 17-18 meeting. Economists polled by Dow Jones...
Hong Kong shares rose 138 points, or 0.7%, to 20,447 on Wednesday morning, bouncing back from losses in the previous session as China kicks off its annual economic work meeting later in the day to discuss policy for next year. Meanwhile, the Politburo has hinted at more aggressive stimulus amid a potential trade spat with the US. Economists expect the Chinese government to set a higher budget deficit target of up to 4% of GDP, allowing for more borrowing to support the sluggish economy. However, gains were capped by weak Chinese trade data for November, highlighted by a sharp slowdown in...
The Nikkei 225 index fell 0.2% to around 39,300 on Wednesday, ending a two-day winning streak following Wall Street's overnight decline, as investors braced for a key U.S. inflation report. Market sentiment was also affected by mixed economic data out of Japan. The Reuters Tankan index turned negative in December, while the BSI manufacturing sentiment reading showed improvement in the fourth quarter. Additionally, data revealed that Japanese producer prices rose at the fastest pace in 16 months in November. Technology stocks led the decline, with significant losses from Disco (-3%),...
Asia-Pacific markets opened mostly higher on Wednesday, in contrast to Wall Street's main benchmarks that fell ahead of key inflation data that could influence the Federal Reserve's interest rate decision. South Korea reported a seasonally adjusted unemployment rate of 2.7% in November, Statistics Korea said, unchanged from the previous month China reportedly began its annual economic work conference on Wednesday to outline its economic policies and growth targets for next year. Australia's S&P/ASX 200 started the day down 0.31%. Japan's Nikkei 225 and the broad-based Topix opened...
Wall Street's main indexes closed lower on Tuesday as investors anxiously awaited key inflation reports that could influence the Federal Reserve's interest rate decision next week. Among the S&P 500's 11 major industry sectors, communication services was the biggest boost with help from a rally in shares of Google-parent Alphabet after it unveiled a new chip. According to preliminary data, the S&P 500 lost 16.53 points, or 0.27%, to end at 6,036.32 points, while the Nasdaq Composite lost 49.45 points, or 0.25%, to 19,687.24. The Dow Jones Industrial Average fell 143.46 points, or...