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...
The STOXX 50 rose 0.9% and the STOXX 600 gained 0.6% on Thursday, in line with a rise in global equities. The rally was driven by optimism following the U.S. CPI report, which reinforced expectations that the Federal Reserve has room to continue cutting interest rates this year. Meanwhile, traders were also focused on corporate results, with Richemont shares jumping more than 15% after the luxury company reported a 10% jump in Q3 sales. The luxury sector received a boost from the news, with LVMH (8%), Kering (9%), Moncler (7.6%) and Hermes (5.1%) surging. ASML Holding (3.5%), L'Oreal (2.6%)...
The Hang Seng rose 237 points, or 1.2%, to close at 19,523 on Thursday (16/1), marking its third straight day of gains after a strong session on Wall Street on Wednesday, amid growing bets on a potential Fed rate cut this year following a slowdown in U.S. core inflation. The index was at its highest in a week after dropping to a nearly four-month low last week, boosted by reports from Chinese state media that the central bank may cut RRRs for commercial banks before the Spring Festival in late January, providing more liquidity for the economy. Traders shrugged off news that the U.S....
Japanese stocks rose after the close on Thursday, as gains in the Banking, Services and Electricity/Machinery sectors helped stocks advance. At the close in Tokyo, the Nikkei 225 gained 0.32%. The best performers on the Nikkei 225 were Hino Motors, Ltd. (TYO:7205), which rose 9.49%, or 48.40 points, to trade at 558.60 at the close. Meanwhile, Furukawa Electric Co., Ltd. (TYO:5801) gained 7.68%, or 507.00 points, to close at 7,110.00 and Dainippon Screen Mfg. Co., Ltd. (TYO:7735) rose 5.48% or 550.00 points to close at 10,585.00 in the last trade. The worst performers on the session were...
European markets are expected to open in mixed territory Thursday, retreating from gains in the previous trading session as traders cheered a cooler-than-expected inflation print in the U.S. The U.K.'s FTSE 100 index is expected to open 9 points higher at 8,306, Germany's DAX down 26 points at 20,595, France's CAC down 15 points at 7,475 and Italy's FTSE MIB up 8 points at 35,705, according to data from IG. Trading updates are set to come from Whitbread, Deliveroo and Richemont, while Rio Tinto releases its latest operational review. Data releases include German inflation figures and...
Shares in Hong Kong soared 319 points or 1.7% to 19,594 on Thursday morning session, holding their bullish momentum for the third session following an overnight rally on Wall Street on the back of an unexpected decline in US core inflation figures for December and robust bank earnings. Markets reached their highest level in a week, rebounding from a near 4-month low, touched last week, buoyed by robust gains across sectors. Li Ning surged nearly 3.0% after reclaiming the official sportswear partnership with the Chinese Olympic Committee. Additionally, UBTech Robotics climbed over 2% after...