Both the STOXX 50 and STOXX 600 reversed early gains and closed down 0.6% and 0.8%, respectively, on Thursday, retreating from new record highs reached earlier in the session amid downbeat corporate results. Siemens shares plunged 9.1% after the company released a disappointing profit forecast for next year. 3i Group plunged 17.2% after warning of more cautious projections, and Deutsche Telekom reversed early gains and closed the session slightly in the red, even after again raising its 2025 forecast. Meanwhile, Merck jumped 4.9% after reporting operating profit that beat market...
The Hong Kong stock market posted moderate gains on Thursday (October 16th), with the Hang Seng Index rising 96 points, or 0.37%, to 26,007. This increase occurred despite mixed performance in the technology and financial sectors. Major tech stocks like Tencent and Alibaba rose slightly, while Xiaomi fell more than 2%. In the financial sector, HSBC and AIA weakened, but Ping An Insurance and the Hong Kong Stock Exchange posted gains. Gold-linked stocks were the market's stars, boosted by the continued record-breaking global gold price. Zijin Mining and Zhaojin Mining both rallied, while a...
Asian stock markets opened higher on Thursday morning (October 16th), following a positive close on Wall Street despite volatile trading. Stocks in Japan, Australia, and South Korea rose, while index futures pointed to a weaker opening in Hong Kong. In the US, the S&P 500 index rose 1.2%, then fell, and finally closed up 0.4%. Renewed tensions between the United States and China have again affected market sentiment. US President Donald Trump stated that his country is now "locked in a trade war" with China. However, US Treasury Secretary Scott Bessent suggested a longer pause on import...
Japan's Nikkei stock index rose 0.7% to 47,997.81 at the start of trading on Thursday. This increase followed the gains seen in most US stock markets overnight. Positive sentiment on Wall Street provided additional encouragement for Japanese investors to re-enter the market. According to analysts from Citi Research, there is a strong opportunity for Japanese stocks to continue strengthening over the next 6 to 12 months. One reason is that regardless of the outcome of Japan's political landscape, the new government is likely to implement expansionary, or pro-market, economic policies. Some...
US stocks closed higher on Wednesday, despite ongoing US-China trade tensions and the ongoing government shutdown. The S&P 500 rose 0.4%, boosted by strong earnings reports from Morgan Stanley and Bank of America, which supported the financial sector. Morgan Stanley shares hit a record high, rising 4.7%, while Bank of America gained 4.4% after both banks beat third-quarter earnings expectations thanks to strong deals. The Nasdaq 100 rose 0.7%, supported by a 3% jump in the Philadelphia Semiconductor Index following better-than-expected orders and operating income from ASML, reflecting...
US stocks rose on Wednesday, with the S&P 500 up 0.7%, the Nasdaq gaining 0.9%, and the Dow Jones advancing about 220 points, following a volatile session on Tuesday, as investors focus on a new wave of corporate updates. Bank of America climbed 4.5% after reporting higher quarterly profits, while Morgan Stanley shares soared more than 6% to an all-time high of $164 after the lender beat on earnings and revenues. Nvidia went up 1.6% after HSBC upgraded its shares to Buy from Hold. Abbott Laboratories on the other hand, lost 2.2% after a revenue miss. Meanwhile, comments from Federal...