The Hang Seng Index surged 495 points, or 1.9%, to close at 26,322 on Monday (September 29th), recovering from two sessions of decline as all sectors contributed to the rally. Optimism increased after China's central bank on Friday promised stronger coordination between monetary and fiscal policies to support growth, while Goldman Sachs projected interest rate and RRR cuts for banks in the fourth quarter of 2025. Sentiment was also lifted by signs that Beijing's crackdown on price wars is working, with authorities urging Chinese companies in the US to avoid aggressive discounting....
Stocks rose at the end of their best week in 2024 after solid consumer sentiment data and bets that newly elected President Donald Trump's pro-growth agenda will keep fueling Corporate America. Equities advanced for a fourth consecutive session, with the S&P 500 on track for its 50th record this year. The gauge extended its weekly gain to 4.5%. The cohort of defensive shares took the lead on Friday after some groups hit "oversold" levels. The megacap space was mixed, with Tesla Inc. up and Nvidia Corp. down. While the post-election rally...
Japanese stocks rose after the close on Friday, as gains in the Textile, Shipbuilding and Steel sectors helped stocks advance. At the close in Tokyo, the Nikkei 225 was up 0.19%. The best performers on the Nikkei 225 were Japan Steel Works Ltd (TYO:5631), which rose 7.68% or 430.00 points to close at 6,031.00. Meanwhile, Ajinomoto Co., Inc. (TYO:2802) gained 7.35% or 433.00 points to close at 6,324.00 and Kawasaki Heavy Industries, Ltd. (TYO:7012) gained 5.25% or 348.00 points to close at 6,973.00. The worst performers on the session were Taiyo Yuden Co., Ltd. (TYO:6976), which plunged...
The Hang Seng Index fell 1.1% at 20,728.19 in Hong Kong. The move follows the previous session's increase of 2%. Meituan contributed the most to the index decline, decreasing 4.1%. Longfor Group Holdings Ltd. had the largest drop, falling 5.8%. Today, 59 of 82 shares fell, while 22 rose; all sectors were lower, led by commerce and industry stocks. Source : Bloomberg
European markets are expected to open mixed on Friday, as investors await corporate results and react to quarter-point interest rate cuts from the U.S. Federal Reserve and the Bank of England. The U.K.'s FTSE 100 is set to open 23 points higher at 8,166, Germany's DAX is up 45 points at 19,412, France's CAC is up 21 points at 7,445 and Italy's FTSE MIB is down 13 points at 33,689, according to data from IG. This comes as market participants continue to weigh political turmoil in Germany and Donald Trump's historic presidential election victory this week. Germany's DAX closed the previous...
The Nikkei 225 Index climbed 0.6% to around 39,600, while the broader Topix Index gained 0.5% to 2,756 on Friday, marking their highest levels in over three weeks after the US Federal Reserve cut interest rates by 25 basis points, further fueling the post-election rally. Investors were also looking ahead to potential stimulus announcements from China, as the National People's Congress Standing Committee wrapped up its five-day meeting. Domestically, data revealed that Japanese household spending in September declined, though at a slower pace than anticipated by the market. Notable...