Hong Kong stocks rose modestly on Tuesday, as investors positioned ahead of the Politburo meeting in China that could set the economic tone for the rest of the year, while sentiment remained upbeat following the launch of the world's largest hydropower dam project on the eastern rim of the Tibetan Plateau. The Hang Seng Index gained 135.89 points, or 0.5%, to close at 25,130.03, while the Hang Seng China Enterprises Index (HSCEI) added 35.40 points, or 0.4%, to 9,075.60. Focus is now on the upcoming Politburo meeting, convened by Chinese President Xi Jinping later this month, which could...
Japanese stocks fell after the close on Friday, as losses in the Transportation, Automobiles & Parts and Pharmaceuticals sectors led shares lower. At the close in Tokyo, the Nikkei 225 was down 0.41% to hit a fresh 1-month low. The best performers on the Nikkei 225 were Hino Motors, Ltd. (TYO:7205), which rose 7.59% or 42.40 points to trade at 601.00 at the close. Meanwhile, Taiheiyo Cement Corp. (TYO:5233) gained 6.30% or 218.00 points to close at 3,677.00 and Okuma Corp. (TYO:6103) gained 4.79% or 160.00 points to close at 3,500.00 in the last trade. The worst performers of the...
The Nikkei 225 Index dropped 1.1% to around 38,160, while the broader Topix Index fell 1.3% to 2,653 on Friday, marking their lowest levels in at least a month. The declines followed losses on Wall Street overnight, driven by a sell-off in megacap technology stocks. Investor focus shifted to the upcoming Bank of Japan monetary policy decision, as Governor Kazuo Ueda indicated on Wednesday that the central bank would consider raising interest rates at its next meeting. In corporate news, Nintendo saw a sharp 6% drop after announcing the launch of its Switch 2 console later this year. Other...
U.S. stocks dipped on Thursday as a jump in the prior session cooled, while investors eyed the most recent corporate earnings and gauged economic data to determine the path of Federal Reserve rate cuts. A benign reading on inflation calmed fears about a renewal in price pressures and strong bank earnings helped the three major U.S. indexes notch their biggest one-day percentage gain since Nov. 6 on Wednesday. Morgan Stanley (MS.N), advanced 4.03% after the lender said earnings increased in the fourth quarter, propelled by a wave of dealmaking, while Bank of America (BAC.N), shares declined...
European markets closed higher Thursday, with luxury stocks soaring on strong results from Cartier owner Richemont The regional Stoxx 600 index provisionally ended the day 0.93% higher, with most sectors in positive territory. Retail stocks pared earlier gains to fall 0.2%. Luxury sector bellwether Richemont jumped 16% after reporting a better-than-expected 10% increase in fiscal third-quarter sales, while France's LVMH, Kering and Christian Dior all rising. Retailers Moncler, Burberry, Swatch and Hermes also crowded around the top of the Stoxx index. Technology stocks closed 1.9% higher,...
US stocks rose slightly on Thursday, with the three major indexes up about 0.1%, following strong gains the previous day. Traders digested the latest economic data while remaining optimistic that the Federal Reserve has room to implement further interest rate cuts this year. Retail sales rose less than anticipated last month and initial claims came in above estimates. Tech stocks such as Nvidia (1.5%) and Super Micro Computer (2.7%) rose, supported by a positive outlook from Taiwan Semiconductor Manufacturing. Meanwhile, earnings season continued with Bank of America shares rising 0.1%...