The Hang Seng Index rose for the fourth day, climbing 0.6%, or 150.3 to 27,073.03 in Hong Kong. The index advanced to the highest closing level since Oct. 3. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 3.3%. Sino Biopharmaceutical Ltd. had the largest increase, rising 6.5%. Today, 50 of 88 shares rose, while 35 fell; 2 of 4 sectors were higher, led by commerce and industry stocks. Source: Bloomberg
Japanese stocks are expected to continue strengthening due to a combination of two factors favored by the market: a weakening yen and expectations of economic stimulus from Prime Minister Sanae Takaichi's government. Nikkei futures traded on the SGX were recorded as rising around 1.5%, while USD/JPY was trading around 153 per US dollar, weakening from its previous closing level. A weak yen is usually good news for Japanese exporters because their dollar sales appear larger when converted into yen. On the political front, market participants are closely monitoring the economic measures being...
Three major US indexes closed at new record highs after a lower-than-expected inflation report raised the possibility of a Federal Reserve interest rate cut later this year and prompted investors to shift to riskier assets. The S&P 500 rose 0.8%, the Nasdaq rose 1%, and the Dow Jones Industrial Average rose 470 points. Technology stocks led the rally, with AMD and IBM surging 7.5% and 8.77%, respectively, after IBM said it had successfully implemented a key quantum error correction algorithm on AMD chips, boosting sentiment across the sector. Intel rose 1.6% after returning to...
European stocks closed slightly higher on Friday amid a mix of corporate earnings reports, while markets assessed the outlook for European growth and interest rates. The STOXX 50 edged up to 5,674, and the STOXX 600 gained 0.2% to close at a record 575. Sanofi rose 3% on better-than-expected third-quarter earnings, and Saab jumped 6% after raising its full-year organic sales forecast. NatWest also jumped 5% on higher third-quarter earnings and an improved performance target. ENI also jumped nearly 2% after releasing its earnings results. Meanwhile, Safran fell 1.4% despite beating analysts'...
European stocks edged lower Friday afternoon after briefly hitting record intraday highs, as investors digested corporate earnings and economic data amid hopes that US–China trade tensions may ease when Presidents Trump and Xi meet next week. The STOXX 50 fell 0.3% to 5,660, while the STOXX 600 hovered near 574. For the week, the STOXX 50 added 1% and the STOXX 600 gained 1.5%. Among corporate movers, Sanofi rose 2.7% on a Q3 profit beat, Saab surged 7% after raising its full-year organic sales forecast, and NatWest gained 3.3% on higher Q3 profits and an upgraded performance target. Vinci...
U.S. stocks reached new heights on Friday as cool inflation data raised investors' optimism that the Federal Reserve can stay on its rate-cutting path, boosting the economy and justifying higher valuations for equities. The Dow Jones Industrial average rose 407 points, or about 0.9%. The S&P 500 also added 0.9%, while the Nasdaq Composite climbed 1.2%. All three major averages reached new all-time intraday highs in the session. The September consumer price index report — which was delayed because of the U.S. government shutdown — rose 0.3% on the month, bringing the annual inflation...