Hong Kong's stock market was under pressure again at the start of the week as investors remained cautious ahead of the release of US September non-farm payrolls (NFP) data on Thursday—the first significant data since the 43-day government shutdown. Uncertainty about the Federal Reserve's interest rate direction dampened risk appetite. The Hang Seng Index fell 0.7%, extending its 1.9% decline from Friday, while Hang Seng Tech fell 0.6%. The biggest pressure came from technology and travel stocks, including Trip.com, which fell 3.9%, Baidu, which fell 2.1%, and WuXi AppTec, which fell 2.7%....
US stocks plunged on Thursday (November 13), with the S&P 500 falling 1.5%, the Nasdaq 1.9%, and the Dow Jones Industrial Average returning to a record high after a 1.5% decline amid a selloff in AI-related stocks and waning expectations of imminent Fed monetary easing. The market has drastically reduced the probability of a basis point cut on December 25 to around 50% from around 95% a month ago as several Fed officials voiced caution over further easing amid persistent inflation and a gap in official data following the government shutdown. Giant stocks such as Nvidia, Broadcom,...
Both the STOXX 50 and STOXX 600 reversed early gains and closed down 0.6% and 0.8%, respectively, on Thursday, retreating from new record highs reached earlier in the session amid downbeat corporate results. Siemens shares plunged 9.1% after the company released a disappointing profit forecast for next year. 3i Group plunged 17.2% after warning of more cautious projections, and Deutsche Telekom reversed early gains and closed the session slightly in the red, even after again raising its 2025 forecast. Meanwhile, Merck jumped 4.9% after reporting operating profit that beat market...
Wall Street traders bracing for a wave of economic releases after the end of the US shutdown drove stocks lower and bond yields higher amid concern over whether the data will be enough to clear the path for a Federal Reserve rate cut. With much of the optimism about the government reopening already priced in, the S&P 500 wiped out its November advance. Short-dated Treasuries, which are more sensitive to imminent Fed moves, underperformed as money markets project about even odds of a central bank reduction in...
The Hang Seng Index rose for the fourth day, climbing 0.6%, or 150.3 to 27,073.03 in Hong Kong. The index advanced to the highest closing level since Oct. 3. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 3.3%. Sino Biopharmaceutical Ltd. had the largest increase, rising 6.5%. Today, 50 of 88 shares rose, while 35 fell; 2 of 4 sectors were higher, led by commerce and industry stocks. Source: Bloomberg
European equities extended gains for a fourth consecutive session on Thursday, with both the STOXX 50 and the STOXX 600 rising nearly 0.2% to fresh record highs. The advance reflected a broadly positive market sentiment following the resolution of the US government shutdown. After the House of Representatives approved the funding bill, President Trump signed it into law and reopening the government. Investors also focused on a series of corporate updates. Shares of Merck surged almost 7%, making it one of the top performers on the STOXX 600, after the company reported operating earnings...