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....
European stocks edged higher on Tuesday, with the STOXX 50 and STOXX 600 both up 0.1%, supported by a tech-led rally on Wall Street and optimism over AI following news of a Nvidia–OpenAI partnership. Traders also awaited fresh PMI data from Europe's largest economies. France disappointed, with both services and manufacturing slipping into contraction territory. On the corporate front, LVMH (+0.5%), Siemens (+1%), Schneider Electric (+1.9%) and ABB (+0.7%) booked gains, while Orsted surged more than 7% after a US court ruling cleared the way to resume work on the Revolution Wind project off...
Hong Kong shares fell 195 points or 0.7% to 26,160 in early deals on Tuesday, marking a second day of losses as most sectors retreated. Sentiment weakened after PBoC Governor Pan Gongsheng's Monday briefing failed to deliver the easing measures investors had hoped for, with policymakers showing little urgency for major stimulus amid resilient exports and a stock market rally. In the U.S., futures were steady as Fed officials tempered bets for further cuts, noting inflation remains above target, though new Fed Governor Stephen Miran continued to advocate for deeper cuts. Losses were capped...
Asia-Pacific markets traded higher Tuesday, fueled by a tech rally on Wall Street after Nvidia announced a partnership with OpenAI, driving investor optimism about the future of artificial intelligence. Australia's ASX/S&P 200 rose 0.17%. South Korea's Kospi climbed 0.69%, while the small-cap Kosdaq added 0.28% at the open. Hong Kong's Hang Seng Index was set to open higher, with its futures contract last traded at 26,396, against the index's previous close of 26,344.14. Hong Kong is bracing for a severe typhoon. The Hong Kong Observatory warned that conditions will begin to...
US stocks rallied on Monday (September 22nd) as Wall Street extended its record high, driven by optimism for megacap Big Tech companies. The S&P 500 rose 0.4%, the Nasdaq gained 0.5%, and the Dow Jones Industrial Average rose 66 points, with all three indexes closing at new highs. Nvidia jumped 4% after announcing an investment of up to $100 billion in OpenAI, lifting the S&P 500 and Nasdaq, while Oracle surged 6.3% following a leadership change and continued enthusiasm for AI. Apple shares rose 4.3%, supported by strong demand for the iPhone 17, and Tesla rose 1.9%, reaching a 2025...
European stocks closed slightly lower on Monday (September 22nd) after posting strong gains the previous week as markets continued to assess the global interest rate outlook and weighed lingering geopolitical risks. The Eurozone STOXX 50 fell 0.3% to 5,445, and the pan-European STOXX 600 fell 0.1% to 554. Automakers led the decline after Porsche cut its profit outlook for the year and delayed the launch of an electric car due to weak demand, pushing its shares down 7.2%. Volkswagen, Porsche's main shareholder, fell 7.1%, while Stellantis fell more than 2%. Meanwhile, BBVA underperformed in...