Hong Kong stocks opened higher on Tuesday, following Wall Street's rally, amid hopes of fresh stimulus after a report showed China's manufacturing activity remained weak. The Hang Seng Index rose 0.4% to 26,736.44, while Hang Seng Tech added 1%. Technology and e-commerce stocks led the gains, with Alibaba surging nearly 2%, JD.com rising 0.8%, and Semiconductor Manufacturing International surging 3.7%. Meanwhile, Baidu and Trip.com shares weakened, while New Oriental plunged nearly 2%. Official data showed China's manufacturing PMI in September stood at 49.8, marking the sixth consecutive...
The Hang Seng Index opened down 117 points, or 0.59%, at 19,678 points this morning, reflecting a cautious market sentiment. The China Enterprises Index fell by 37 points, or 0.52%, to 7,095 points, while the Tech Index declined by 27 points, or 0.61%, settling at 4,387 points. By 10.04am, the Hang Seng Index was trading at 19,735.99, down 59.50 points, or 0.30%. Technology stocks displayed a generally weak performance, with Tencent decreasing by 0.8% and Alibaba falling by 0.5%. Meituan saw a more pronounced drop of 1.6%, while Xiaomi managed a slight gain of 0.6%. JD.com and Kuaishou...
The Nikkei 225 Index gained 0.6% to around 39,680, while the broader Topix Index rose 0.5% to 2,750 on Tuesday (17/12), recovering losses from the previous session. The rally was largely fueled by a strong performance on Wall Street, where technology stocks outperformed. Investors are also bracing for an expected interest rate cut by the US Federal Reserve this week, with much attention on the Fed's projections for 2025. Domestically, markets are speculating that the Bank of Japan may hold off on raising rates this month. BOJ officials suggested last week that more time is needed to assess...
The Nasdaq hit a record high Monday, led by Tesla (NASDAQ:TSLA) as investors look ahead to the last Federal Reserve policy meeting of the year.the Dow Jones Industrial Average was 38 points lower, or 0.1%, the S&P 500 index gained 1%, and the NASDAQ Composite climbed 1.1%, and earlier hit an record intraday high of 20,145.48.The Fed is widely expected to cut interest rates by 25 basis points at the conclusion of a two-day meeting on Wednesday, after the central bank kicked off an easing cycle earlier in the year. The move will bring rates down by a total of 100 bps in 2024. But focus...
European stocks closed firmly lower on Monday, extending the pullback from the last session as markets assessed the latest economic data ahead of monetary policy decisions from the Fed, BoE, and BoJ. The STOXX 50 dropped 0.4% to 4,948, while the STOXX 600 dropped 0.1% to 516. Flash PMIs for the Eurozone showed that private sector activity continued to contract in December, aligning with concerns of muted growth for next year. Also, Moody's downgraded France's credit rating to Aa3 from Aa2 over the weekend, citing concerns about weakened public finances amid ongoing political instability. In...
US stocks opened the week mostly higher, with the S&P 500 up 0.2%, the Nasdaq up 0.5%, and the Dow Jones holding near the flatline. Investors are focused on the Fed's policy decision, with another 25bps rate cut widely anticipated. The market will also be watching the latest economic projections, particularly the prospect of a rate cut in 2025. Several key economic indicators are also due this week, including the S&P Global PMI, retail sales, and PCE report. On the corporate side, Broadcom shares rose 5.5%, extending Friday's nearly 24% surge that pushed the chipmaker's market...