European stocks were set to wrap up September with the best performance since 2019, as optimism around resilient US economic growth and lower interest rates lifted risk appetite. The Stoxx Europe 600 Index was little changed by 8:17 a.m. in London. The gauge has gained nearly 1% in September during a typically weak seasonal period. Financial services and media sectors outperformed, while energy and chemicals shares were the biggest laggards. In individual stocks, Asos Plc dropped 10% as it warned full-year earnings would be at the lower end of expectations as the online fast...
US stocks were mixed for a second session on Wednesday as the market assessed the sustainability of the AI-driven rally, retail earnings results, and the outlook for US interest rates. The Dow Jones Industrial Average edged higher while the S&P 500 held near the flatline, although the Nasdaq 100 weakened as the tech giant continued its aggressive decline from the previous session. Tech giants' stocks weakened further amid concerns that valuations may have become overstretched, in line with research indicating that most AI companies will be unprofitable, while MetaTrader has overhauled...
The Hang Seng Index rose 43 points, or 0.2%, to close at 25,166 on Wednesday, reversing early losses and ending a four-day losing streak. Market sentiment improved as Chinese equities rallied, boosted by the People's Bank of China's decision to maintain its benchmark interest rate-a move expected to inject liquidity and counter deflationary pressures. Meanwhile, trading and listing activity in Hong Kong continued to increase, supported by policy measures to stimulate the capital market and simplify IPO procedures. Investors tried to brush aside reports that the US was intensifying scrutiny...
European stocks fell on Wednesday (August 20), with the Stoxx 50 down 0.4% and the Stoxx 600 down 0.3%, led by defense stocks. The Stoxx Europe Aerospace & Defense Index fell 0.9% after a 2.6% drop on Tuesday, as optimism over a Ukraine ceasefire weighed on the sector. Germany's Rheinmetall and Hensoldt each fell nearly 2%, while Britain's Rolls-Royce and Qinetiq also fell around 2%. The declines followed US President Trump's call for Putin and Zelenskiy to show "flexibility" and hold a bilateral summit, raising speculation of a breakthrough in peace talks. Elsewhere, UK inflation...
Japanese stocks weakened after the close of trading on Wednesday (August 20th), as weakness in the Paper & Pulp, Transportation, and Communications sectors led to declines. At the close of trading in Tokyo, the Nikkei 225 fell 1.42%. The best-performing stocks on the Nikkei 225 were Pacific Metals Co., Ltd. (TYO:5541), which rose 4.89% or 91.00 points to trade at 1,953.00. Meanwhile, Oriental Land Co. Ltd. (TYO:4661) rose 4.47% or 157.00 points to close at 3,672.00, and Keisei Electric Railway Co., Ltd. (TYO:4661) rose 4.47% or 157.00 points to close at 3,672.00. (TYO:9009) rose 3.96%,...
Equities in Hong Kong dropped 105 points or 0.4% to 25,019 in Wednesday morning trade, slipping for the fifth session after a tech-led selloff on Wall Street ahead of the Fed's July meeting minutes and the Jackson Hole meeting. Sentiment remained fragile after Tuesday's data showed China's youth unemployment hit an 11-month high of 17.8% in July, with weak demand in tech, real estate, and education sectors. Losses were contained by the PBoC's move to keep key lending rates at record lows, in line with consensus, as Beijing sought to bolster liquidity and counter disinflation. Meanwhile,...