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...
European stock markets opened lower on Friday (November 21st), as volatility in US technology stocks returned to the Atlantic. Shortly after the opening bell, the pan-European Stoxx 600 index fell 0.75%, with nearly all sectors and major bourses in negative territory. Global stocks have fluctuated sharply this week, as concerns about AI valuations have plagued equity markets. They eased slightly from a four-day sell-off following Nvidia's earnings release on Wednesday, but their gains were quickly reversed during Thursday's trading session as New York-listed stocks continued to...
The Hang Seng Index plunged 615 points, or 2.4%, to close at 25,220 on Friday (November 21), extending last week's decline and marking its lowest level in five weeks. The decline occurred broadly amid sharp fluctuations in global equities. The technology sector slumped 3.2% to a three-month low, mirroring the weak performance of US tech stocks on Thursday. Consumer, property, and financial stocks also fell sharply, following a decline in mainland Chinese markets, which hit their lowest level since mid-October. On a weekly basis, Hong Kong markets slumped 5.1%, reversing gains from the...
The Japanese stock market closed lower on Friday, with the Nikkei 225 index falling 2.30%. The paper & pulp, transportation, and communications sectors were the main drags on the index. Despite the steep decline, the market mood wasn't entirely negative, as several large stocks still rallied. Among the top gainers, M3 Inc rose 6.9%, Obayashi Corp surged nearly 5% to hit an all-time high of 3,125, and Nitori Holdings rallied around 4.1%. Overall, the number of stocks rising was far greater: 2,522 rose, 1,117 fell, and 190 remained unchanged on the Tokyo Stock Exchange. This means that...
The Hong Kong stock market opened lower in the morning session, with the benchmark Hang Seng Index falling 375 points, or 1.45%, to 25,460. Selling pressure was felt across the entire market. The Hang Seng China Enterprises Index fell 1.43% to 9,012, while the Technology Index fell further, down 2.2% to 5,451. Technology stocks were the main market bearish. Tencent fell around 1.7%, Alibaba fell more sharply, by around 3.1%, and Meituan fell 1.5%. Xiaomi and JD.com both fell 2.3%, while Kuaishou Technology also fell by around 1.6%. The weakness in this sector indicates that investors remain...
Japan's Nikkei index fell 2.2% to 48,720.59 in morning trading, following a sharp decline on Wall Street overnight. Negative sentiment was still fueled by renewed concerns about a potential "bubble" in AI-based stocks, prompting investors to reduce exposure to riskier assets. The technology and banking sectors were the main drags on the index. Panasonic shares fell around 1.2%, while Mizuho Financial fell 0.8% and Mitsubishi UFJ Financial slipped 1.5%. Several consumer stocks also suffered, with Fast Retailing down 0.4%. In the foreign exchange market, currency movements were relatively...