The Hang Seng Index opened higher today, gaining 70 points or 0.27%, to reach 25,458. Meanwhile, the China Enterprises Index rose by 22 points or 0.24%, closing at 9,173, and the Hang Seng Tech Index increased by 21 points or 0.37%, settling at 5,699. Technology stocks displayed mixed movements. Tencent remained unchanged, Alibaba rose by 1.2%, Meituan edged up 0.4%, Xiaomi Group dipped slightly by 0.1%, and Kuaishou gained 0.6%. Financial stocks showed general stability. HSBC Holdings recorded no change, AIA Group rose by 0.5%, Ping An Insurance increased by 0.4%, and the Hong Kong...
The Hang Seng plunged 551 points, or 2.2%, to close at 24,220 on Thursday, ending a two-session winning streak amid broad-based losses. The index fell from a three-year peak as traders took profits. Modest gains in US futures failed to lift sentiment after Beijing's latest plan to boost consumption and stabilize stock and real estate markets lacked clarity on timing and scale. Concerns also grew after Fitch Ratings warned that higher US tariffs, including a projected effective rate of 35% on Chinese goods, could shave 1 ppt off China's GDP by 2026. Fitch also forecast global growth to slow...
European markets were mixed at the open on Thursday, as investors awaited monetary policy announcements from the Bank of England, the Swiss National Bank and Sweden's Riksbank. The regional Stoxx 600 was near the flatline in early trade. The index has closed higher for the past four sessions, recovering from a 1.22% loss last week. Germany's DAX gave up gains on Wednesday as investors appeared to "buy the rumor, sell the fact" after lawmakers voted to allow exemptions to its debt rules, unlocking hundreds of billions in defense, infrastructure and climate spending. The potential reforms...
Stocks rallied on Wednesday, with the S&P 500 clawing back more of the rout since late February that took the benchmark briefly into correction territory, as the Federal Reserve forecast it would still cut interest rates two times in 2025. The Dow Jones Industrial Average climbed 383.32 points, or 0.92%, and closed at 41,964.63. The S&P 500 jumped 1.08% to end at 5,675.29, and the Nasdaq Composite advanced 1.41% to settle at 17,750.79. The central bank kept the federal funds rate at a range of 4.25% to 4.5%, a decision that was widely expected. That said, the Fed kept its outlook...
The Federal Reserve in a closely watched decision Wednesday held the line on benchmark interest rates though still indicated that reductions are likely later in the year. Faced with pressing concerns over the impact tariffs will have on a slowing economy, the rate-setting Federal Open Market Committee kept its key borrowing rate targeted in a range between 4.25%-4.5%, where it has been since December. Markets had been pricing in virtually zero chance of a move at this week's two-day policy meeting. Along with the decision, officials updated their rate and economic projections for this year...
European stock markets were mixed on Wednesday following recent strong gains as investors digested the historic debt reforms in Germany and assessed regional inflation data ahead of the latest Federal Reserve policy-setting meeting. The DAX index in Germany dropped 0.4% on Wednesday. However, the FTSE 100 in the UK climbed 0.1%, while the CAC 40 in France gained 0.7%. German debt vote passes Germany's lower house of parliament, the Bundestag, voted in favor of several changes to the country's constitution that would allow for a loosening in fiscal rules and pave the way for new investments...