The Nasdaq marked a record closing high on Thursday with support from the technology sector while the benchmark S&P 500 barely managed to notch a record close as investors cautiously monitored private labor market data in the second day of a U.S. government shutdown. The benchmark index's valuation was around its highest level since 2020, with help from heavyweight technology companies including AI chip leader Nvidia and Broadcom. With no official government data available because of the shutdown, investors were monitoring information from other sources. A report from global...
The Hang Seng slumped 138 points, or 0.6%, to close at 23,463 on Thursday (3/13), extending losses for a second session amid a broad-based rout. The tech index fell 1.7%, dragged down by Semicon Manufacturing (-4.9%), Meituan (-2.2%), and Alibaba Hlds. (-2.5%). Sentiment weakened as the Trump administration raised trade barriers, prompting retaliation from the EU and Canada. China also vowed to take all necessary steps to protect its interests. Consumer and property stocks fell sharply, as doubts grew over China's ability to meet its 5% GDP growth target for 2025, unchanged from 2024,...
European markets are expected to open in mixed territory on Thursday, falling lower as President Donald Trump's tariffs disrupt global trade relations. The U.K.'s FTSE 100 is expected to open 8 points higher at 8,537, Germany's DAX is down 47 points at 22,611, France's CAC is down 2 points at 7,983 and Italy's FTSE MIB is down 32 points at 38,230, according to data from IG. Investors in Europe will be watching earnings from Hugo Boss, Hannover Re and Deliveroo, with no major data releases due later in the day. Thursday marks the second and final day of CNBC's CONVERGE LIVE event in...
Japan stocks were lower after the close on Thursday, as losses in the Shipbuilding, Manufacturing and Services sectors led shares lower. At the close in Tokyo, the Nikkei 225 declined 0.03%. The best performers of the session on the Nikkei 225 were Japan Steel Works Ltd (TYO:5631), which rose 6.15% or 344.00 points to trade at 5,933.00 at the close. Meanwhile, Advantest Corp. (TYO:6857) added 3.67% or 277.00 points to end at 7,830.00 and Denka Co Ltd (TYO:4061) was up 3.60% or 77.00 points to 2,213.00 in late trade. The worst performers of the session were Taiyo Yuden Co., Ltd....
The benchmark Hang Seng Index heads for the longest losing streak in two months amid tit-for-tat tariffs and countermeasures Hong Kong stocks fell for the fifth straight day on Thursday, marking the longest losing streak in two months, as investors worried about the global economy amid escalating trade-war risks. The Hang Seng Index declined 0.1 per cent to 23,572.63 as of 10.45am local time, adding to a loss of 3.2 per cent since March 6. The Tech Index retreated 1 per cent. On the mainland, the CSI 300 Index was little changed, while the Shanghai Composite Index lost 0.2 per...
The Nikkei 225 Index surged 1.2% to surpass 37,200, while the broader Topix Index gained 1% to 2,720 on Thursday, reaching their highest levels in a week. The rally mirrored Wall Street's rebound, driven by softer-than-expected US inflation data that eased market concerns about the economy. However, investor sentiment remained cautious as US President Donald Trump's steel and aluminum tariffs took effect on Wednesday, raising fears of a widening global trade war. In Japan, major firms agreed to significant wage hikes for the third consecutive year during annual spring labor negotiations,...