The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to reduce risk in large cap stocks. Among the index's contributors, Tencent was a major drag, with its shares falling by around 2.3%, putting pressure on the technology sector, which has recently been a driving force behind market gains. Weakness in large cap companies like this typically quickly impacts sentiment due to their significant weighting in...
Japanese stocks rallied strongly on Tuesday, with the Nikkei 225 surging 3.92% to close at 54,721, setting a new record high. This rally was led by technology stocks and the financial sector, which solidly lifted the index. Global sentiment also contributed: a rebound in precious metals boosted risk appetite, while surprisingly expansionary US factory data bolstered confidence that growth prospects and corporate profits remain quite solid. Domestically, the weakening yen also provided a boost, benefiting Japan's export-driven economy. In the technology and AI sectors, stocks led the gains:...
The Hang Seng Index weakened again for the second consecutive day. The Hong Kong stock exchange closed down 2.2%, or 611.54 points, to 26,775.57 on Monday (February 2) its biggest daily decline since the index fell 2.4% on November 21. This means that this selling pressure is not just a slight correction, but has entered a more pronounced "risk-off" phase. Compounding the decline, the decline was widespread across almost all sectors. Trade and industrial stocks led the decline, and the overall market looked "total red": out of 88 stocks, 75 fell, while only 11 rose. This usually indicates...
The NiThe Nikkei 225 Index fell 1.25% to close at 52,655 while the broader Topix Index lost 0.8% to 3,538 on Monday, reversing earlier gains and tracking losses across global markets as risk sentiment deteriorated. The decline followed a turbulent selloff in precious metals that triggered forced liquidation in other asset classes, while technology stocks also came under pressure on renewed concerns about the sustainability of AI investments. In Japan, Prime Minister Sanae Takaichi said over the weekend that a weak yen could be a major opportunity for export industries. Investors also braced...
Japanese stocks traded mixed today. The Nikkei 225 index fell 0.2% to 53,256.62 due to pressure from electronics stocks, while the Topix index rose 0.5% to 3,561.66 thanks to strength in other sectors. The Nikkei's decline was primarily driven by large technology stocks: Advantest fell 5.3% and Keyence fell 3.8%. Meanwhile, defensive and commodity sectors helped cushion the decline, with Chugai Pharmaceutical surging 4.4% and Eneos Holdings rising 3.0%. In the foreign exchange market, USD/JPY strengthened to 153.39 from 152.96 at the Tokyo close on Thursday. Investors are now awaiting the...
Shares in Hong Kong plunged 412 points, or 1.5%, to 27,545 in early Friday trade, snapping a seven-session winning streak amid widespread losses across sectors. Traders booked profits after markets hit a 4-1/2-year high in the prior session, while caution mounted ahead of China's official January PMI data due over the weekend. Sentiment was also pressured by a sharp drop in U.S. stock futures, following a mostly lower close on Wall Street overnight after Apple warned of margin headwinds. Zijin Gold Intl. (-6.9%) and Zhaojin Mining (-4.1%) plunged amid a retreat in metals, while Kuaishou...