The Hang Seng Index plunged 454 points, or 1.7%, on Tuesday (November 18th), its sharpest one-day drop since mid-October, and closed at a two-week low of 25,930. The index fell for a third straight session, weighed down by broad declines across sectors. Sentiment soured due to the global market slump, with traders anxiously awaiting Nvidia's earnings report amid valuation concerns and the delayed release of US data, including the September employment report. Technology stocks slumped nearly 2% as the recent rally showed signs of exhaustion. Property, financial, and consumer discretionary...
The S&P 500 and the Nasdaq each gained 0.1% on Tuesday, setting fresh record highs after closing at all-time peaks in the previous session. The Dow Jones, however, hovered near the flatline. Investors stayed focused on the FOMC meeting, which begins today, with the Fed widely expected to deliver a 25bps rate cut tomorrow. On the data front, both retail sales and industrial production surprised to the upside, while export and import prices also exceeded forecasts. Still, the figures did little to alter market expectations for Fed policy. By sector, energy outperformed, while utilities and...
The Hang Seng ended little changed on Tuesday, hovering around 26,438 after dipping earlier in the session. Another record close on Wall Street Monday supported sentiment, as bets grew that the Fed will resume its easing cycle this week and leave the door open to further cuts. Strength in tech and consumer stocks helped offset weakness in property and financials, while traders digested a framework deal between the US and China to place TikTok under US-controlled ownership, with final approval expected in a Friday call between President Trump and Xi Jinping. The index tracked mainland...
European stocks traded in a muted fashion Tuesday, awaiting news from the Federal Reserve policy meeting while digesting key regional economic data. The DAX index in Germany dropped 0.1%, the CAC 40 in France slipped 0.2% and the FTSE 100 in the U.K. fell 0.1%. Fed meeting starts The Fed starts its latest two-day policy meeting later in the session, limiting activity as investors look for the U.S. central bank to cut interest rates at the conclusion on Wednesday, potentially offering global support. The Bank of England also meets later this week, but is widely expected to hold still on...
European stocks edged lower on Tuesday, with both the STOXX 50 and STOXX 600 slipping 0.2%, pausing after three straight sessions of gains. Traders turned cautious ahead of key monetary policy decisions this week from the Fed and the BoE, as well as China–US trade talks, while US President Trump begins his visit to the UK today. On the data front, markets await the ZEW Economic Sentiment Index for Germany, while UK labour figures continued to signal a slowdown in the job market. By sector, insurance, telecoms and banks led the declines, while basic resources and technology outperformed. In...
The Nikkei 225 rose 0.3% to close at 44,902 while the Topix gained 0.25% to 3,168 on Tuesday, with Japanese stocks hitting fresh record highs as they tracked Wall Street's advance ahead of an expected US Federal Reserve rate cut. Sentiment was also lifted after President Donald Trump said US-China trade talks in Spain were progressing, with a call between Trump and Chinese President Xi Jinping scheduled for Friday to finalize terms. Domestically, the Bank of Japan is expected to keep its policy rate at 0.5% this week as officials weigh the impact of US tariffs on Japan's export-driven...