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...
The benchmark Hang Seng Index heads for the longest losing streak in two months amid tit-for-tat tariffs and countermeasures Hong Kong stocks fell for the fifth straight day on Thursday, marking the longest losing streak in two months, as investors worried about the global economy amid escalating trade-war risks. The Hang Seng Index declined 0.1 per cent to 23,572.63 as of 10.45am local time, adding to a loss of 3.2 per cent since March 6. The Tech Index retreated 1 per cent. On the mainland, the CSI 300 Index was little changed, while the Shanghai Composite Index lost 0.2 per...
The Nikkei 225 Index surged 1.2% to surpass 37,200, while the broader Topix Index gained 1% to 2,720 on Thursday, reaching their highest levels in a week. The rally mirrored Wall Street's rebound, driven by softer-than-expected US inflation data that eased market concerns about the economy. However, investor sentiment remained cautious as US President Donald Trump's steel and aluminum tariffs took effect on Wednesday, raising fears of a widening global trade war. In Japan, major firms agreed to significant wage hikes for the third consecutive year during annual spring labor negotiations,...
Asia-Pacific markets are primed to rise on Thursday after a soft inflation report in the U.S. helped two of the three benchmarks on Wall Street reverse course from two days of losses. The consumer price index — a broad-based measure of costs across the U.S. economy — increased 0.2% month-on-month in February, putting the annual inflation rate at 2.8%. Australia's S&P/ASX 20 started the day 0.20% higher, reversing course from losses in the previous two sessions. Over in Japan, the benchmark Nikkei 225 is set to open higher, with the futures contract in Chicago at 37,035 while its...
The Nasdaq Composite rose on Wednesday after a soft inflation report eased concerns about the economy and as investors snapped up beaten-up technology shares. The tech-heavy benchmark added 1.22% and closed at 17,648.45,while the S&P 500 gained 0.49% to end at 5,599.30. The Dow Jones Industrial Average slipped 82.55 points, or 0.2%, to settle at 41,350.93. Though the tech sector is off more than 3% week to date, the cohort bounced on Wednesday to lead the S&P 500 higher. Nvidia gained 6.4%, and AMD added more than 4%. Meta Platforms advanced 2%, and Tesla jumped more than 7%. The...
The Nasdaq Composite rebounded after a soft inflation report eased concerns about the economy and as investors snapped up beaten-up technology shares. The tech-heavy index popped 1.7%. The S&P 500 added 0.9%, while the Dow Jones Industrial Average was trading marginally higher. Nvidia shares gained 6%, while Meta Platforms and Tesla rose 2% and 7%, respectively. The consumer price index, a broad measure of costs across the U.S. economy, increased 0.2% for the month, putting the annual inflation rate at 2.8%. This was lower than the respective Dow Jones estimates for 0.3% and 2.9%....