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...
European shares finished marginally higher on Monday, supported by defence stocks, while Novo Nordisk gained after data showed its weight-loss drug Wegovy delivers stronger heart-protective benefits than Eli Lilly's rival therapies. The pan-European STOXX 600 closed up 0.17% at 551.07, with gains led by the aerospace and defence index, which surged 2.1% to hover near a record high. Defence giants, Rolls-Royce Holdings, Rheinmetall and Hensoldt advanced between 2.8% and 4.5%. Gains followed a Financial Times report that European Commission President Ursula von der Leyen said Europe was...
The Hang Seng Index surged 540 points, or 2.2%, to close at 25,617 on Monday (September 1), its biggest one-day gain since August 13 and its second consecutive gain, driven by broad gains. Consumer stocks surged about 3%, followed by solid gains in the technology and property sectors. Sentiment was boosted by upbeat August manufacturing PMI data in China from a private survey, which showed strong growth in new output and new orders. Meanwhile, mainland Chinese equities rose for a third session as abundant liquidity encouraged higher yields. Gains were partly capped by mixed US index...
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...