Equities in Hong Kong rose 96 points or 0.4% to 24,9 on Monday morning deals, extending gains from the previous session as traders reacted to the PBoC's decision to keep its one-year and five-year loan prime rates at record lows, in line with expectations. The Hang Seng index reached its highest level since early 2022, lifted by broad-based sector gains and a modest uptick in U.S. futures amid optimism over global trade. U.S. Commerce Secretary Howard Lutnick expressed confidence on Sunday that a deal with the EU could be reached before the August 1 deadline, though talks may continue...
The Hang Seng fell 212 points, or 0.9%, to close at 24,072 on Monday, down for a third straight session as all sectors declined. Sentiment was weighed down by a third straight monthly decline in China's manufacturing sector in June, ahead of similar results from a private survey due on Tuesday. Financials led the decline, followed by property, technology and consumer discretionary. Significant losers included Bank of China Hong Kong (-5.5%), Li Auto (-3.3%), Meituan (-2.9%) and Tencent Hlds. (-1.5%). On the positive side, Laopu Gold surged to a record high, buoyed by high gold prices, even...
European stocks opened in the green on Monday, with the Stoxx 600 index up 0.1% in early deals, building on last week's gains. Global sentiment appears broadly robust, with Asia-Pacific stocks turning mixed but U.S. futures remaining higher. In Europe, sectors are mixed, with autos down 0.6% and banks slipping 0.25% as financial services gain 0.6%. Beneficiaries of the U.K.-U.S. trade deal, which took effect this morning, are slightly higher, having already notched strong gains on the previous announcement. Those include engine-maker Rolls-Royce, up 0.6%, and German automaker BMW,...
Japanese equities rose for a fifth day after trade negotiator Ryosei Akazawa's extension of his US visit spurred hopes for a deal. Sentiment was also supported by the S&P 500 Index, which reached a new record on Friday. Topix Index climbed 0.4% to close at 2,852.84, just 2.6% below its previous all-time high set in July 2024. SoftBank Group Corp. contributed the most to the Topix Index gain, increasing 4.3%. Out of 1,681 stocks in the index, 897 rose and 705 fell, while 79 were unchanged. Nikkei advanced 0.8% to 40,487.39. The Topix Index rounded...
Japanese stocks rose after a decline in US consumer spending spurred expectations of a possible rate cut and improved investor sentiment as the S&P 500 Index reached a new high. The Topix Index rose 0.9% to 2,865.00 as of 9:33 a.m. Tokyo time, while the Nikkei advanced 1.4% to 40,719.74. SoftBank Group Corp. contributed the most to the Topix Index gain, increasing 5.2%. Out of 1,681 stocks in the index, 1,292 rose and 317 fell, while 72 were unchanged. Exporters such as machinery and precision instruments gained. Domestic demand-related shares such...
Asia-Pacific markets rose Monday as investors parsed a slew of data points, including South Korea and Japan's industrial output figures for May and China's purchasing managers' index readings for June. Japan's benchmark Nikkei 225 climbed 1.13% in early trade, while the broader Topix index advanced 0.77%. In South Korea, the Kospi index added 0.63%, while the small-cap Kosdaq was flat. Over in Australia, the S&P/ASX 200 started the day 0.3% higher. Futures for Hong Kong's Hang Seng index stood at 24,182, pointing to a weaker open compared to the HSI's last close of...