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 weakened on Thursday as new Prime Minister Sanae Takaichi prepared for challenging, major budget negotiations. The Nikkei 225 index fell 0.24%, or 94.09 points, to close at 38,814.56. The pressure arises as Japan must balance Takaichi's fiscal stimulus plan with its $550 billion investment obligation to the United States under the tariff agreement reached by her predecessor. If the funds are not disbursed before US President Donald Trump's term ends in January 2029, tariffs on Japanese goods could surge above 15%. To reduce the fiscal burden, Takaichi plans to partner with...
The Hang Seng Index opened lower by 63 points, or 0.24%, to 25,718, followed by the H-Share Index, which fell 0.34%, and the Technology Index, which fell 0.67%. This decline was driven by the decline in major technology stocks such as Tencent, Meituan, Xiaomi, JD.com, and Kuaishou, which all fell between 0.4% and 1%. Alibaba was the only major stock in this sector to remain stable. In the financial sector, stock movements were more mixed. HSBC Holdings and AIA Group recorded small gains of 0.1% and 0.2%, respectively, while Ping An and the Hong Kong Stock Exchange weakened slightly....
Asia-Pacific markets fell Thursday, tracking Wall Street's declines on concerns about U.S.-China trade relations. Trade fears resurfaced after Reuters reported Wednesday stateside that the Trump administration is considering curbs on exports to China that are made with U.S. software, citing a U.S. official and three people briefed by U.S. authorities. The sources said that the plan, which could cover a wide range of items from laptops to jet engines, might not move forward, however, and that it's not the only option that's being discussed. Japan's benchmark Nikkei 225 index retreated...
Japanese stocks are lower following their recent surge driven by hopes for newly elected Prime Minister Sanae Takaichi's economic measures. The market is also weighed by continuing U.S.-China trade tensions and new U.S. sanctions on Russian oil giants. Chip-related stocks are leading declines. Tokyo Electron Ltd. is down 3.8%, SoftBank Group is 3.2% lower and Renesas Electronics is down 3.6%. USD/JPY is at 152.13, compared with 151.80 as of Wednesday's Tokyo stock market close. Investors are closely watching any details of Takaichi's policy steps. The Nikkei Stock Average is down 1.4% at...
The Dow fell 320 points from yesterday's record close, the S&P 500 fell 0.4%, and the Nasdaq fell 0.9% as markets digested a mix of earnings reports and new trade risks after Reuters reported the White House was considering restrictions on exports to China made with U.S. software. Netflix plunged 10% after its performance was impacted by a tax dispute in Brazil. Tesla fell 1.4% ahead of its earnings report following news that some newly assembled vehicles could experience sudden battery power loss. On the earnings front, TI fell 5.9% on disappointing forecasts, weighing on other...