The Hang Seng climbed 233 points, or 0.9%, to close at 26,855 on Tuesday, reversing early losses to hit a two-week high on broad-based gains. The index jumped 7% in September, its fifth straight monthly advance, and posted a third quarterly gain of 11.6%, fueled by AI optimism, strong inflows, and bets of fresh policy support from Beijing ahead of the October plenum. Still, upside was capped by U.S. political uncertainty, with Vice President Vance warning the government was "headed to a shutdown" amid stalled budget talks. Profit-taking also weighed as traders braced for China's week-long...
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,...
Japanese equities fell on Wednesday after the country saw its steepest export drop in over four years. Exports fell 2.6% in July as US tariffs weighed on global commerce, the Ministry of Finance reported Wednesday. The Nikkei 225 fell 145.63 points to open at 43,400.66, tracking a sharp retreat on Wall Street led by heavyweight technology shares. Investor confidence wavered over concerns that the tech rally had advanced too far, with all eyes on the upcoming Jackson Hole symposium for clues on interest rates. Concurrently, the US announced plans to increase scrutiny of imports from...
US stocks fell on Tuesday as losses in major technology names dragged the market lower, with the S&P 500 slipping 0.6% and the Nasdaq falling 1.5%, its lowest level in more than two weeks, on steep drops in chipmakers. The Dow Jones finished muted after briefly hitting a record high earlier in the day. Nvidia slid 3.5%, AMD tumbled 5.4%, and Broadcom fell 3.6%, while Palantir plunged 9.3%, making it the weakest performer in the S&P 500. On the upside, Home Depot gained 3.2% despite missing earnings expectations, supported by signs of firming demand in the housing sector. Intel...
European stocks rose Tuesday, with investors digesting the meeting between U.S. President Donald Trump and Ukraine President Volodymyr Zelensky in Washington. The DAX index in Germany gained 0.5%, the CAC 40 in France rose 1.2% and the FTSE 100 in the U.K. increased 0.4%. Rising peace optimism Sentiment received a boost Tuesday after a meeting between the presidents of the U.S. and Ukraine ended relatively positively, with both sides hopeful of the future. Trump said that the U.S. would help guarantee Ukraine's security, but did not specify the terms of any guarantees. He also raised the...
US stocks traded mixed within a narrow range on Tuesday as the market assessed earnings results and continued to gauge the outlook for monetary policy this year. The S&P 500 remained near the flatline, not far from last week's record, while the Dow Jones Industrial Average rose 100 points. The Nasdaq 100 edged down 0.3%. Home Depot jumped 3% to support the Dow Jones Industrial Average despite missing second-quarter earnings estimates, as the large home improvement retailer kept its annual forecast steady. The store is the first of several retail giants to report results this week,...