Hong Kong's stock market ended higher Wednesday with the benchmark Hang Seng Index up 1.62 percent to close at 25,538.07 points. The Hang Seng China Enterprises Index rose 1.82 percent to end at 9,241.2 points, and the Hang Seng Tech Index rose 2.48 percent to end at 5,745.74 points. Source : CTX
The three major US stock averages hovered around the flatline on Thursday, as investors weighed mixed economic data and reports of a phone call between US President Trump and Chinese President Xi, though no details of the conversation were disclosed. On the data front, initial jobless claims unexpectedly rose to 247K, the highest level since October last year, signaling potential softening in the labor market. Additionally, labor costs rose more than initially estimated, adding to inflationary concerns. Traders are now looking ahead to Friday's key jobs report for further insight into the...
The Hang Seng climbed 253 points or 1.1% to close at 23,907 on Thursday, notching its third straight gain and a two-week high. Broad-based sector advances drove the rally, with sentiment boosted by a rebound in China's services activity for May, following April's seven-month low. The tech index led the rise, up near 2.0% after a strong performance in Chinese ADRs listed in New York. Property, consumer, and financials also advanced, aided by optimism over potential U.S.-China trade talks, despite President Trump saying it was "extremely hard" to reach a deal with Xi Jinping. Meantime, U.S....
The Nikkei 225 Index fell 0.51% to close at 37,554 while the broader Topix Index dropped 1.03% to 2,756 on Thursday, giving back gains from the previous session as US stocks struggled for momentum overnight. The downturn followed a lackluster performance in US markets, where weak labor and services data raised concerns about the impact of trade policy uncertainty on the economy. The ADP report showed US private-sector hiring slowed to its lowest level in over two years, while the US ISM services PMI for May pointed to the first contraction in nearly a year. On the domestic front, data...
Both the STOXX 50 and STOXX 600 edged 0.1% higher on Thursday, as investors refrain from making big bets ahead of the European Central Bank's monetary policy decision later in the day. The ECB is widely expected to cut interest rates once more before potentially pausing to assess the broader impact of US trade policies under President Trump on the European economy. On the data front, German factory orders unexpectedly rose in April, defying forecasts of a decline. In corporate news, shares of LVMH (+1.1%), ASML Holding (+1.2%), L'Oréal (+0.7%), EssilorLuxottica (+1.1%), and Bayer (+3.5%)...
The Nikkei 225 Index fell 0.2% to around 37,700 while the broader Topix Index dropped 0.6% to 2,770 on Thursday, giving back gains from the previous session as US stocks struggled for momentum overnight. The downturn followed a lackluster performance in US markets, where weak labor data raised concerns about the impact of trade policy uncertainty on the economy. The ADP report showed US private-sector hiring slowed to its lowest level in over two years. On the domestic front, data revealed a fourth straight monthly decline in real wages in April, as persistent inflation continued to...