The Hang Seng Index rose for the second day, climbing 0.7%, or 168.48 to 24,994.14 in Hong Kong. The index advanced to the highest closing level in at least a year. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 1.8%. China Petroleum & Chemical Corp. had the largest increase, rising 5.5%. Today, 58 of 85 shares rose, while 24 fell; 3 of 4 sectors were higher, led by commerce and industry stocks. Source : Bloomberg
The Nikkei 225 Index jumped 1% to around 37,800 while the broader Topix Index gained 0.5% to 2,785 on Wednesday, snapping a three-day losing streak as gains on Wall Street fueled investor optimism. The upbeat sentiment followed a tech-driven rally in the US, where Nvidia surged nearly 3% to reclaim its title as the world's most valuable publicly traded company, overtaking Microsoft. Back in Japan, Bank of Japan Governor Kazuo Ueda reiterated the central bank's readiness to raise interest rates if economic and inflation projections are met, reinforcing expectations of a cautious shift toward...
Asia-Pacific markets advanced Wednesday after Wall Street rose on the back of a tech rally, led by chipmaker Nvidia, with South Korean stocks leading gains. Shares in the artificial intelligence darling advanced nearly 3%, extending Monday's gains and driving Nvidia's market cap past Microsoft's for the first time since January. Chip companies Broadcom and Micron Technology rose more than 3% and 4%, respectively. South Korean markets rose as opposition party leader Lee Jae-myung won the presidential election. The Kospi index popped 2.44% to hit its highest level since August last year,...
U.S. stocks rose on Tuesday, buoyed by tech strength, solid jobs data and hopes for progress on trade. The S&P 500 rose 0.6%, the Dow gained 214 points and the Nasdaq gained 0.8%, led by a 2.8% rally in Nvidia that briefly made it the most valuable public company. Other chipmakers such as Broadcom (+3.3%) and Micron (+4.1%) also rose sharply, adding to the chip-driven momentum. A stronger-than-expected JOLTS report showed job openings rose by 191,000 to 7.391 million in April, signaling resilience in the labor market despite trade headwinds. However, the OECD cut its 2025 U.S. growth...
European stocks closed mostly flat on Tuesday, recovering from losses of more than 1% earlier in the session after weaker-than-expected euro zone inflation data reinforced expectations for a 25 basis point interest rate cut by the ECB later this week. Meanwhile, global growth concerns weighed on sentiment after the OECD cut its outlook, projecting world GDP to slow from 3.3% in 2024 to 2.9% in 2025 and 2026, citing rising trade tensions. Adding to market jitters, political instability in the Netherlands deepened as the government collapsed over disagreements on immigration policy. In...
Stocks were little changed Tuesday, following modest gains seen in the first session of June, as growth concerns increased and traders awaited more details on potential U.S. trade deals. The S&P 500 and Dow Jones Industrial Average each hovered around the flatline. The Nasdaq Composite, however, was higher by 0.4%. Tuesday's declines follow the Organization for Economic Co-operation and Development cutting its U.S. growth outlook. The OECD now sees the U.S. economy expanding by just 1.6%, down from 2.2%. Treasury yields declined, as traders sought out safety. The benchmark 10-year...