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...
The Hang Seng Index plunged 331 points, or 1.3%, to close at a two-week low of 25,434 on Tuesday (December 9), extending its decline for a second session amid broad sector weakness. Investors were nervous ahead of the US Fed's decision on Wednesday, with speculation growing that the central bank might make a "hawkish rate cut" amid a divided committee and uncertainty over Powell's successor when his term ends in May 2026. Mainland Chinese stocks also weakened after recent gains as caution grew ahead of China's November CPI and PPI data due on Wednesday, with deflationary risks still in...
European stocks edged higher on Tuesday (December 9th) as global investors awaited the US Federal Reserve's monetary policy update. The pan-European Stoxx 600 index rose 0.17% at the opening bell. The Fed is widely expected to cut its benchmark interest rate at its final meeting of the year. Currency markets are currently pricing in an 87% chance of a quarter-point rate cut when the central bank concludes its two-day meeting on December 10th, according to the CME FedWatch tool. This move will serve as a benchmark for central banks in Europe, with the Swiss National Bank due to deliver its...
The Nikkei 225 index closed slightly higher by 0.1% at 50,635 on Tuesday, while the Topix index rose a very slight 0.02% to 3,385, after opening lower. The market managed to reverse initial losses thanks to the strengthening of technology stocks, which were the main drivers of the index's movement. Positive sentiment in the global chip sector increased after US President Donald Trump approved a deal allowing Nvidia to resume shipping H200 series AI chips to China. In Japan, technology and chip-related stocks also rose, including SoftBank Group (up 0.8%), Lasertec (up 3.6%), Disco Corp (up...
Hong Kong stocks opened lower on Tuesday, with the Hang Seng Index falling around 196 points, or 0.8%, to 25,565, extending its decline for a second session. Sentiment was weighed down by concerns that the US Federal Reserve might make a "hawkish cut" on Wednesday, lowering interest rates while signaling a possible pause in cuts in January. The benchmark index briefly touched a two-week low as investors cautiously awaited the release of China's November inflation (CPI) and producer price (PPI) data, due on Wednesday. However, selling pressure was somewhat mitigated after China's Politburo...
Asian stocks weakened in Tuesday's trading as market participants began to worry about the direction of the Fed's future policy easing, not just the near-certain interest rate cut this week. The MSCI Asia Index fell around 0.2%, with Korean, Japanese, and Australian markets opening lower. Meanwhile, US stock futures actually gained slightly after the S&P 500 fell 0.3% on Monday and US bond yields rose, in line with the decline in global bond prices. Australian bond yields also rose ahead of the local central bank's interest rate decision. The main market focus is the Fed's decision on...