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...
European markets opened lower on Friday as investors reacted to disappointing data from the region's two largest economies. The pan-European Stoxx 600 fell 0.18% after the opening bell, following an unexpected contraction in UK GDP and key export data from Germany. The UK economy contracted by about 0.1% on a month-on-month basis, the ONS said on Friday, with officials attributing the decline to a drop in output. Economists polled by Reuters had projected a 0.1% rise in GDP in October. On Thursday, the European Central Bank cut its main interest rate by 25 basis points, marking its fourth...
The Hang Seng plunged 426 points, or 2.1%, to close at 19,971 on Friday after a strong session the previous day, weighed down by heavy losses across sectors. Investors were disappointed after China's Central Economic Work Conference ended without providing specific policy details on fiscal stimulus, although top leaders pledged to spur consumption. Traders were also cautious ahead of next week's FOMC meeting, with some experts warning that a recent pick-up in U.S. inflation could delay or alter plans for interest rate cuts next year. In China, November activity data including industrial...
The best performers on the Nikkei 225 were Oji Holdings Corp. (TYO:3861), which rose 11.23% or 62.70 points to close at 620.80. Meanwhile, Bandai Namco Holdings Inc. (TYO:7832) rose 7.09% or 237.00 points to close at 3,579.00 and Advantest Corp. (TYO:6857) gained 5.81% or 515.00 points to close at 9,380.00. The worst performers were Omron Cor (TYO:6645), which fell 5.63% or 292.00 points to close at 4,892.00. IHI Corp. (TYO:7013) fell 5.18% or 452.00 points to close at 8,278.00 and Mitsubishi Heavy Industries, Ltd. (TYO:7011) dropped 4.12% or 98.50 points to close at 2,291.50. Declining...
Hong Kong stocks plunged 321 points, or 1.6%, to 20,077 in early trade on Friday, shedding gains from the previous session amid sharp losses across sectors. Traders fled riskier assets after the minutes of China's Central Economic Work Conference lacked policy details, with top leaders reportedly pledging only to raise the fiscal deficit target for next year. Overnight in the U.S., a rally on Wall Street stalled after weekly jobless claims rose more than expected, and producer price data was mixed. Locally, industrial output in Hong Kong fell in the third quarter of 2024 after rising for...
The Nikkei 225 index fell 0.8% to around 39,530 while the broader Topix index fell 0.8% to 2,750 on Friday, paring gains from the previous session and tracking losses on Wall Street overnight after some potentially disappointing economic data in the U.S. On the domestic front, investors reacted to data showing a slight improvement in sentiment among Japan's major manufacturers in the fourth quarter. This has reinforced expectations of a hawkish stance from the Bank of Japan, although uncertainty remains over whether the central bank will raise interest rates in December or January....