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...
Stocks slipped on Thursday after a new inflation report showed that wholesale costs rose more than expected last month The Dow Jones Industrial Average lost 200 points, or about 0.5%. The S&P 500 shed 0.4%, while the Nasdaq Composite slid 0.3%. Investors came into the session riding high, with the S&P 500 and Nasdaq posting fresh record highs in the previous session. The benchmarks got a jolt earlier this week after the release of a cooler-than-expected consumer price inflation report for July. That report stoked hopes among investors for a rate cut from the Federal Reserve at the...
The Hang Seng fell 94 points or 0.4% to end at 25,519 on Thursday, snapping the three-day winning streak after reversing early gains. Sentiment weakened ahead of China's July activity data due Friday, with investors wary of the impact from U.S. tariffs, soft demand, and recent adverse weather. Industrial output and retail sales in the mainland are expected to slow, while the jobless rate may edge higher. Meantime, fresh data showed new yuan loans logged their first monthly drop since 2005, as banks typically ease lending in July. Most sectors declined, led by tech, consumer, and...
Major European bourses edged higher on Thursday, with the STOXX 50 and STOXX 600 both up 0.1%—marking a third straight session of gains and trading near one-month highs. Investors remained focused on economic data, corporate earnings, and geopolitical developments, with Presidents Trump and Putin set to meet tomorrow. Optimism was also supported by expectations that the Fed will deliver a 25 bps cut to the federal funds rate next month. Among megacaps, SAP (+0.1%) and ASML Holding (+0.4%) advanced, while LVMH, Hermès, Nestlé, and Novo Nordisk were little changed. On the earnings front,...
The Nikkei 225 fell 1.45% to close at 42,649, while the broader Topix dropped 1.1% to 3,058 on Thursday, as Japanese stocks pulled back from record highs amid profit taking. The market had rallied earlier in the week after softer US inflation data boosted expectations for a Federal Reserve rate cut next month. A strong earnings season in Japan and an improving global trade outlook also added to bullish sentiment. On the policy front, the Bank of Japan faces mounting pressure to abandon an inflation gauge tied to domestic demand and wage growth that has so far restrained further...
Hong Kong shares added 53 points or 0.2% to 25,659 in Thursday's morning session, rising for the fourth day to a three-week high. Sentiment was lifted by record closes for Wall Street's S&P 500 and Nasdaq for the second day overnight, as traders increased bets on a US Fed rate cut next month. Meantime, Treasury Secretary Bessent called for a series of cuts, starting with a 50bps move in September. In China, Beijing pledged interest subsidies for businesses in eight consumer service sectors to boost spending. Further strength, however, was capped by growing caution ahead of July activity...