The Hang Seng Tech Index fell 1% to 5,521, indicating renewed pressure on Hong Kong technology stocks in the latest trading session. This decline reflects a more cautious sentiment towards the technology sector, as the index's movement was dominated by selling in large-cap tech companies, which are typically the main movers. With this weakening, market participants will be watching to see whether the index can hold the 5,500-plus area or whether it opens up room for further correction in the near term. (asd) Source: Newsmaker.id
Hong Kong stocks rose 150 points, or 0.6%, to 25,649 in early trading on Friday, maintaining gains for the third straight session amid broad-based strength across sectors. Sentiment was lifted by a stronger close on Wall Street overnight, driven by a rebound in technology stocks and weaker US inflation data that reinforced expectations of a Fed rate cut next year. A third straight gain in mainland Chinese stocks also supported the market, as investors positioned themselves for China's key policy rate decision next week. Among the stocks that saw significant gains, XPeng surged 4.6%, followed...
Japan's Nikkei stock index rose 0.9% to 49,443.48 in the latest trading session, following a positive rally on Wall Street overnight. The rise was fueled by lower-than-expected US inflation data, raising investor expectations that the Federal Reserve may cut interest rates next year. Chris Beauchamp, an analyst at IG, said investors want to see data supporting the Fed's case for a rate cut. However, he also highlighted the risk that uncertainty about price trends could dampen market optimism about further rate cuts. In the Japanese stock market, several leading companies posted significant...
Asia-Pacific stock markets opened higher on Friday, as investors awaited a key decision from the Bank of Japan (BOJ). Markets expect the BOJ to raise interest rates to 0.75%, the highest level since 1995. LSEG data shows an 86.4% chance of a rate hike, amid efforts to curb inflation, which has long been above target. This rate hike has the potential to strengthen the yen against the US dollar and help curb inflationary pressures. The latest Japanese government data showed consumer inflation fell to 2.9% in November, while core inflation remained at 3%, in line with economists' forecasts. On...
US stocks rose on Thursday, with the S&P 500 gaining 0.8%, the Nasdaq climbing 1.4%, and the Dow Jones adding about 66 points, after latest data showed inflation rate unexpectedly decreased. The annual inflation in the US fell to 2.7% in November, the lowest since July, below market expectations of 3.1%. Also, the core gauge fell to 2.6%, the lowest since March 2021. Although the figures remain noisy due to the absence of October data following the government shutdown, a sustained moderation in price pressures could pave the way for further Federal Reserve rate cuts next year. Consumer...
European stocks finished in positive territory on Thursday as traders positioned for central bank decisions today. The pan-European Stoxx 600 was almost 1% higher at the close of the session.Markets prepared for Europe's central banks to announce their final interest-rate decisions of the year on Thursday with the European Central Bank, Bank of England, Riksbank and Norges Bank all concluding monetary policy meetings on Thursday. The ECB kept rates at 2%, while Riksbank and Norges Bank also held steady. The Bank of England reduced its interest rate from 4% to 3.75%, in a...