Hong Kong stocks rose again for a third straight day on Wednesday, approaching their longest winning streak in two weeks. The Hang Seng Index rose 0.6% to 26,039.99, supported by tech stocks such as Meituan, which surged 6.6% ahead of its earnings release, ZTO Express (up 3.5%), BYD (up 2.7%), and JD.com (up 1.8%). Meanwhile, Alibaba edged down 0.1% after its September-quarter profit plunged 52% year-on-year, although the decline was still better than market expectations. Positive sentiment also spread to mainland China, with the CSI 300 index rising 0.5% and the Shanghai Composite Index...
Wall Street experienced a volatile session on Tuesday (October 14th) as investors weighed mostly positive bank earnings, Federal Reserve comments, and ongoing US-China trade tensions. The S&P 500 failed to sustain its rebound and closed down 0.2%, while the Nasdaq fell 0.8%, pressured by tech companies like Nvidia, while the Dow Jones Industrial Average rose 203 points. Major banks, including Citigroup (+3.9%), Wells Fargo (+7.1%), JPMorgan (-1.9%), and Goldman Sachs (-2%), delivered better-than-expected results, supporting the financial sector, although some top performers declined...
European stocks fell on Tuesday (October 14th), with the Stoxx 50 and Stoxx 600 both down around 0.3%, as escalating US-China trade tensions weighed on sentiment. Risk-sensitive sectors such as automotive and mining led the decline after Beijing imposed sanctions on the US units of a South Korean shipping company and warned of further retaliation, raising concerns of new trade disruptions. Defensive sectors, including telecommunications, real estate, and utilities, outperformed as investors sought safe havens. Among the stocks that moved, Michelin plunged 8.9% after the tire maker issued a...
Stocks fell Tuesday, resuming the selling seen late last week, as trade worries were reignited overnight by China. The Dow Jones Industrial Average lost 504 points, or 1.1%. The S&P 500 lost 1.3%, while the Nasdaq Composite shed nearly 2%. The selling was led by the AI shares that have driven the bull market, but also were the biggest losers during Friday's rout. Nvidia lost more than 3%. Tesla and Oracle lost 2.5% and 1.4%, respectively. China imposed sanctions on five of South Korea's Hanwha Ocean's U.S. subsidiaries. This will forbid organizations and individuals in China from...
European stocks fell on Tuesday, with the STOXX 50 down 1% and the STOXX 600 down 0.8%, after posting sharp gains in the previous session. The mining, automotive, banking, and industrial sectors led the decline due to renewed concerns over the US-China trade dispute. Both countries began imposing new port fees on each other's ships, fueling concerns about the outlook for global trade. On the corporate side, several earnings reports soured market sentiment. BP fell around 2% after warning of a potential impairment charge of up to $500 million in the third quarter, while Rio Tinto fell 1.4%...
The Nikkei 225 index closed sharply lower by 2.6% to 46,847.32 on Tuesday, posting its biggest daily decline since April 11. The pressure came after the Komeito party withdrew from Japan's governing coalition, increasing political uncertainty and raising concerns of a short-term correction in the stock market. This situation is also considered to complicate the path of Sanae Takaichi, the new president of the Liberal Democratic Party (LDP), to become the next prime minister. Major stocks also fell, with MonotaRO plunging 10%, Furukawa Electric dropping 7.5%, and Chugai Pharmaceutical...