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...
Stocks rallied on Wednesday (November 26), pushing the major stock averages to their fourth straight day of gains ahead of the Thanksgiving holiday. The Dow Jones Industrial Average rose 388 points, or 0.8%. The S&P 500 gained 0.9%, while the Nasdaq Composite gained 1%. The overall market rally was driven by artificial intelligence company Oracle, which surged more than 4% after Deutsche Bank reiterated its bullish stance on the company. Nvidia shares rose more than 1%, recovering from recent losses, while fellow "Magnificent Seven" member Microsoft traded more than 2% higher. "This...
The European stock markets closed higher in Wednesday trading as the Stoxx Europe gained 1.06%, Germany's DAX rose 0.98%, the FTSE 100 advanced 0.85%, France's CAC was up 0.88%, and the Swiss Market Index increased 0.40%. The European Central Bank reported in its Financial Stability Review for November that uncertainties around trade agreements," as well as the economic and financial effects of tariffs, "continue to shape the euro area financial stability landscape." The ECB said exposure to tariff-sensitive firms and stronger funding ties with non-banks could strain euro area banks during...
The Hang Seng inched up 33 points or 0.1% to finish at 25,928 on Wednesday, marking a third straight session of gain amid a rise in U.S. futures as recent economic data bolstered expectations of a Fed rate cut in December. Most sectors in the city advanced, led by property and financials, even as mainland markets eased ahead of industrial profit figures due Thursday. Locally, Hong Kong's exports held near a four-year high in October, while imports saw their strongest growth in five months. On the corporate front, Alibaba reported stronger-than-expected quarterly revenue, supported by rising...
Japanese stocks rose on Wednesday as artificial intelligence (AI)-related stocks rallied and hopes for a US interest rate cut grew. The Topix index rose 2% to 3,355.50 as of 3:30 p.m. Tokyo time, while the Nikkei 225 gained 1.8% to 49,559.07. Of the 1,668 stocks on the Topix index, 1,471 rose, only 166 fell, and 31 remained unchanged. The positive sentiment was largely driven by comments from Fed Governor Christopher Waller, who supported a December interest rate cut. This statement fueled speculation that borrowing costs in the US would fall, making the global investment climate more...
European stocks are expected to open higher across the spectrum as expectations rise that the U.S. Federal Reserve will cut interest rates in December. The U.K.'s FTSE index is seen opening 0.25% higher, Germany's DAX up 0.7%, France's CAC 40 up 0.67% and Italy's FTSE MIB 0.64% higher, according to data from IG. Regional bourses look set to follow their counterparts on Wall Street and in the Asia-Pacific region higher amid expectations that the Fed will cut when it next meets on Dec. 9 and 10. Markets are pricing in almost an 85% chance of a quarter percentage point cut by the central...