The Hang Seng Index rose 192 points, or 0.75%, to end at 25,690 on Friday, extending its gains for a third session as all major sectors advanced. Sentiment was boosted by continued gains in mainland China's stock market amid reports that ByteDance had reached an agreement with three major investors to form a joint venture to operate the TikTok app in the US, aiming to avoid a potential ban. Hopes for fresh stimulus from Beijing before the end of the year also supported the market, while traders awaited the upcoming People's Bank of China (PBOC) interest rate decision. Man Wah Holdings...
Asia-Pacific stock markets mostly opened lower on Tuesday, following Wall Street's overnight decline. Pressure stemmed from investors exiting artificial intelligence (AI) stocks in the United States. Oracle shares plunged more than 5%, Broadcom fell more than 2%, while Microsoft also posted losses. In the US, the S&P 500 index fell 0.16%, the Dow Jones Industrial Average fell slightly, and the tech-dominated Nasdaq Composite Index fell 0.59%. In Asia, market movements were mixed. Australia's S&P/ASX 200 Index opened up 0.14%. However, preliminary purchasing managers' index (PMI)...
Japan's Nikkei stock index opened 1.1% lower at 49,624.20 in early trading, following Wall Street's sharp decline overnight. Market participants remained cautious due to the busy data schedule and economic agenda throughout the week. According to IG Chief Market Analyst Chris Beauchamp, investor risk appetite remains low, leading to market volatility. Pressure also came from artificial intelligence-related stocks, as the Nasdaq Composite Index in the United States weakened. Japanese technology stocks were also affected, with Yaskawa Electric plunging 5.5%, Fujikura down 5.1%, and Japan...
The S&P 500 and the Dow Jones added 0.1% and 0.2%, respectively, while the Nasdaq fell 0.2% as a tech-led tumble erased early gains and left markets awaiting clearer macro direction. Heavyweights tied to the AI theme, including Broadcom (-5.6%), Oracle (-2.6%), and several semiconductor names, weighed on performance after Broadcom flagged margin pressures and Oracle delivered softer guidance, reviving concerns over the profitability and financing of large-scale AI investments. ServiceNow's 11.6% plunge following reports of a sizable acquisition and a KeyBanc downgrade added to...
European stocks finished the session firmly higher, with the Euro STOXX 50 rising 0.7% and the STOXX Europe 600 gaining 0.8%, extending a rebound from Friday's tech-led selloff as investors looked past near-term volatility. Gains were broad-based, though the defense sector came under pressure after President Volodymyr Zelenskyy signaled Ukraine's willingness to drop its long-standing bid for NATO membership in exchange for alternative security guarantees, a shift that raised hopes for progress in peace talks resuming in Berlin. Shares of Rheinmetall fell 2.6%, with Hensoldt and Renk also...
Stocks rose Monday led by a broad array of names as traders bet data set for release this week will point to tame inflation and strong economic activity. The Dow Jones Industrial Average rose 168 points, or 0.4%. The S&P 500 gained 0.5%, while the Nasdaq Composite advanced 0.6%. Those moves come after the S&P 500 and Nasdaq Composite fell last week, as Oracle and Broadcom led a rotation away from artificial intelligence. The S&P 500 lost 0.6% last week, while the Nasdaq shed 1.7%. The Dow, which is less exposed to tech and AI than the other two benchmarks, rose 1.1%. Oracle...