The Hang Seng added 18 points, or 0.1%, to close at 25,946 on Thursday, marking a fourth straight session of gains amid strength mainly from financials. Sentiment was lifted by Beijing's new plan to spur consumption, including rural consumer goods upgrades and support for sectors such as pets and toys. A modest rise in mainland stocks also aided risk appetite, amid optimism toward the domestic AI sector. On the data front, however, October figures showed China's industrial profits dropped for the first time in three months, reflecting weak domestic demand and export challenges. Trading was...
The Japanese stock market closed higher on Thursday, driven by strong gains in the Real Estate, Banking, and Textile sectors. The Nikkei 225 index rose 1.28%, with three stocks performing particularly well: Resonac Holdings, which surged 8.85% to a five-year high; Toppan Printing, which set an all-time record after rising 7.32%; and Denka Co. Ltd., which surged 6.10% to a 52-week high. Overall, there were far more gainers than decliners: 2,323 stocks rose, while 1,252 declined. On the other hand, several healthcare stocks were under pressure. Eisai Co. fell 2.70%, followed by Shionogi &...
Hong Kong stocks rallied again at the start of trading on Thursday, with the Hang Seng Index rising around 82 points, or 0.3%, to 26,012. This marked the fourth consecutive day of gains, in line with Wall Street's rally, which also saw four consecutive sessions amid growing expectations of a Fed rate cut in December. All sectors on the Hang Seng opened in the green, with technology and property stocks leading the gains. Sentiment was also helped by a rebound in major mainland Chinese stock markets after a brief correction. However, the rally was tempered by the latest data showing that...
The Nikkei 225 Index jumped 1.2% to above 50,100 while the broader Topix Index added 0.7% to 3,380 on Thursday, extending gains from the previous session and taking cues from a strong lead on Wall Street amid bets on further Federal Reserve interest rate cuts. US stocks rallied for a fourth straight session overnight as markets now price in over an 80% chance that the Fed will cut rates by 25 basis points next month and three more by the end of 2026. In Japan, Prime Minister Sanae Takaichi's government is reportedly planning to issue at least 11.5 trillion yen in additional bonds to fund...
Asian markets are projected to strengthen on Thursday, following Wall Street's rally, which has risen four consecutive days ahead of the Thanksgiving holiday. Japanese and mainland Chinese index futures signaled a positive opening, while Australian stocks rose earlier in the session and Hong Kong's were flat. In the US, the S&P 500 rose 0.7% and the Nasdaq 100 gained 0.9%, supported by expectations of an imminent Fed rate cut. Financial markets are now pricing in around an 80% chance of a 25 bps rate cut next month, with three more cuts planned by the end of 2026. The Fed's Beige Book...