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 S&P 500 gained 0.9% on Wednesday, moving closer to its all-time highs, while the Nasdaq 100 surged 1.7%, reaching a new record. This rally followed November's inflation report, which aligned with economists' expectations and bolstered hopes for a likely Federal Reserve rate cut at its upcoming meeting. However, the Dow Jones lost 104 points, weighed down by a 5.6% slide in UnitedHealth shares. Tech stocks spearheaded the rally, pushing the sector's year-to-date gains beyond 24%, with significant contributions from communication services and consumer discretionary stocks. The...
Stocks in Europe closed higher Wednesday, with the STOXX 50 adding 0.2% and the STOXX 600 rising 0.3%, after inflation in the US came in line with expectations, reinforcing bets the Fed will deliver another 25bps rate cut in the fed funds rate next week. In addition, traders await the ECB monetary policy decision tomorrow, expecting a fourth rate cut and clues on next year's rate policy. Meanwhile, a batch of corporate updates prevented further gains. Inditex shares tumbled 6.5% following weaker-than-expected third-quarter sales results. SAP was also under pressure, falling about 0.6%. In...
The Hang Seng Index fell for the second day, dropping 0.8%, or 156.23 to 20,155.05 in Hong Kong. Meituan contributed the most to the index decline, decreasing 2.8%. Hang Lung Properties Ltd. had the largest drop, falling 3.7%. Today, 55 of 83 shares fell, while 26 rose; 3 of 4 sectors were lower, led by commerce and industry stocks. Source : Bloomberg
The Nikkei 225 index edged up 0.01% to close at 39,372 on Wednesday, ending almost flat after weak signals from Wall Street overnight, as investors braced for a key U.S. inflation report. Market sentiment was also affected by mixed economic data from Japan. The Reuters Tankan index turned negative in December, while the BSI manufacturing sentiment reading showed improvement in the fourth quarter. Additionally, data revealed that Japanese producer prices rose at the fastest pace in 16 months in November. Notable performances were seen by index heavyweights Kawasaki Heavy (+10.3%), IHI Corp...
European markets were slightly lower on Wednesday at the session's open, as traders awaited the latest U.S. inflation data. The pan-European Stoxx 600 index traded down 0.2% shortly after the opening bell, with most sectors in negative territory. Zara owner Inditex posted interim nine-month results, flagging that its revenues between Nov. 1 and to Dec. 9 jumped 9% from the same period of last year on a constant currency basis. The U.S consumer price index data will likely influence how the Federal Reserve proceeds on interest rates at its Dec. 17-18 meeting. Economists polled by Dow Jones...