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 markets are expected to open higher Thursday, rallying after being in the doldrums yesterday. The U.K.'s FTSE 100 index is expected to open 16 points higher at 8,291, Germany's DAX up 72 points at 19,334, France's CAC up 30 points at 7.173 and Italy's FTSE MIB up 98 points at 33,310, according to data from IG. There are no major earnings Thursday, but data releases include Spanish and German inflation and European economic sentiment figures. Italian and Spanish business confidence data is also due. It'll be a quieter day globally with U.S. markets...
Hong Kong's equities plunged 198 points or 1.0% to 19,405 on Thursday morning deals, ending gains in the previous two sessions amid declines in all sectors, especially consumers, tech, and financials. Sentiment was downbeat following overnight losses on Wall Street, driven by a pullback in major US tech stocks ahead of the Thanksgiving holiday. Meanwhile, concerns over trade disputes between China and the US administration were heightened as the Biden administration reportedly considered imposing additional restrictions on the sales of semiconductor equipment and AI memory chips to...
Asia-Pacific markets opened mixed on Thursday after Wall Street's rally stalled overnight even as inflation data matched expectations. The U.S. personal consumption expenditures, or PCE, price index rose 2.3% on an annualized basis, up from 2.1% in September. So-called core inflation, which excludes food and energy prices, rose 2.8% in the 12 months to October, up from 2.7% in the previous month. Both were in line with expectations from economists polled by Reuters, according to LSEG data. The Bank of Korea is expected to keep its benchmark interest rate unchanged at 3.25% when its...
Japanese stocks fell, dragged down by a decline in electronics shares, as concerns about U.S. trade policy persisted. Lasertec dropped 3.4% and Terumo dropped 1.7%. USD/JPY was at 151.46, down from 152.15 at the close of the Tokyo Stock Exchange on Wednesday. Investors were watching the yen and any developments related to the Russia-Ukraine war. The Nikkei Stock Average was down 0.4% at 37,994.69. Source: Bloomberg
Stocks fell in light trading on Wednesday as investors took some risk off the table following big November gains. The S&P 500 shed 0.4%, while the Nasdaq Composite lost 0.8%. The Dow Jones Industrial Average fell 115 points, or 0.3%, despite trading more than 140 points up at session highs. Traders appeared to take profits on big technology names that have largely performed well this year, which can explain the Nasdaq's underperformance. Nvidia which has surged more than 168% in 2024, lost more than 3% in the session. Meta Platformsslid about 1% after rallying around 60% this...