The Hang Seng climbed 233 points, or 0.9%, to close at 26,855 on Tuesday, reversing early losses to hit a two-week high on broad-based gains. The index jumped 7% in September, its fifth straight monthly advance, and posted a third quarterly gain of 11.6%, fueled by AI optimism, strong inflows, and bets of fresh policy support from Beijing ahead of the October plenum. Still, upside was capped by U.S. political uncertainty, with Vice President Vance warning the government was "headed to a shutdown" amid stalled budget talks. Profit-taking also weighed as traders braced for China's week-long...
US stocks were relatively close to the flatline on Wednesday, extending the tight range of trading this week to remain close to record highs as markets positioned for the release of Nvidia's results after today's closing bell, a bellwether for global artificial intelligence demand and confidence. The three main indices were close to the flatline. Nvidia was flat as it is expected to report a 37% growth in earnings in its second financial quarter, but markets will also scrutinize CEO Huang's rhetoric on the outlook of AI revenues after markets showed concerns of frothiness in tech stocks, in...
The Hang Seng Index plunged 323 points, or 1.3%, to close at 25,202 on Wednesday (August 27), reversing early gains and marking a second day of declines as selling swept across sectors. Sentiment worsened after several Chinese brokerages and asset managers reportedly reduced financing and limited purchases amid growing risks from the recent surge in Chinese stocks. Trading volume on Chinese stock exchanges reached CNY 3.1 trillion on Tuesday, the second-highest in history. Investors also grew cautious ahead of Nvidia's earnings release today and Friday's PCE index. Data-wise, China's...
European markets opened higher Wednesday as traders gear up for a quarterly earnings report from chipmaker Nvidia The Nasdaq-listed stock has become a bellwether for the global technology sector, particularly regarding the progress of the artificial intelligence boom, as its major corporate customers include Microsoft, Google, Meta and Amazon Its value has soared in recent years, giving it the biggest weighting in the S&P 500 and an outsized influence on U.S. market performance. The company will report after U.S. markets close on Wednesday. France's CAC 40 index rebounded 0.4%...
The Nikkei 225 Index rose 0.3% to close at 42,520 while the broader Topix Index slipped 0.07% to 3,070 on Wednesday, with Japanese shares showing mixed performances as investors awaited Nvidia's earnings report, expected to offer fresh insight into the durability of the artificial intelligence trade. Sentiment was also pressured by political uncertainty after US President Donald Trump's unprecedented removal of Federal Reserve Governor Lisa Cook, a move that heightened concerns about the US central bank's independence. Domestically, investors looked ahead to key economic data due later...
The Hang Seng Index opened 101 points higher, or 0.39%, at 25,626 points. The China Enterprises Index rose by 33 points, or 0.36%, to 9,181, while the Hang Seng Tech Index advanced 32 points, or 0.55%, to 5,814. Technology stocks demonstrated steady performance, with Tencent up 0.5%, Xiaomi Group rising 0.7%, and Kuaishou gaining 0.6%. Meanwhile, Alibaba, Meituan, and JD.com remained unchanged. Financial stocks showed mixed results. HSBC Holdings gained 0.7%, AIA Group rose 0.3%, but Ping An Insurance dropped 0.7%, and Hong Kong Exchanges and Clearing added 0.5%. Automotive stocks...