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 S&P 500 rose on Tuesday, trading near a record as stocks stay resilient despite rising global trade fears and persistent inflation worries. The broad market index gained 0.2%, while the Nasdaq Composite advanced 0.3%. The Dow Jones Industrial Average lagged, losing 83 points, or 0.2%. Nvidia climbed 3% to lead the tech sector higher. Microsoft traded slightly higher as well. Wall Street is coming off a winning week for the major averages. The Dow gained roughly 0.6% last week, while the S&P 500 advanced 1.5%. The Nasdaq rose 2.6%. Much of last week's advance came Thursday...
The Nikkei 225 Index gained 0.25% to close at 39,270, while the broader Topix Index added 0.31% to reach 2,776 on Tuesday, extending gains from the previous session as the yen halted its recent rally, easing pressure on domestic equities. On Monday, data revealed that Japan's economy grew by 0.7% quarter-on-quarter in the fourth quarter, up from 0.4% growth in the previous quarter and exceeding expectations of 0.3%. On an annualized basis, Japan's GDP expanded by 2.8% in Q4, in line with forecasts and accelerating from a 1.7% increase in Q3. However, investor sentiment remained cautious...
European markets edged higher at the open on Tuesday, as geopolitical tensions in the region boosted defense stocks. The pan-European Stoxx 600 was up around 0.18% shortly after the opening bell, with major bourses in mixed territory. Defense stocks, which hit a record high during Monday's session, continued their rally, with Renk Group gaining around 7% and German arms manufacturer up 3% in early deals. Geopolitical tensions between the U.S. and Europe are likely to remain in focus for European markets this week as U.S. officials prepare for talks with Russia to end the war in Ukraine,...
Hong Kong's stock market ended higher on Tuesday with the benchmark Hang Seng Index up 1.59 percent to close at 22,976.81 points. The Hang Seng China Enterprises Index jumped 1.82 percent to end at 8,475.40 points, and the Hang Seng Tech Index climbed 2.54 percent to close at 5,639.05 points. Source: CTX news
European futures hit record peaks on Tuesday as defence stocks soared on expectations of a spending bump, while Hong Kong shares were on the verge of three-year highs as investors cheered business leaders' meeting with President Xi Jinping. Australia's central bank began its rate cut cycle, as expected, and the Australian dollar found support at $0.6350 as a cut came with caution on further easing. S&P 500 futures were up 0.2% and European futures were up 0.1%. Japan's Nikkei rose 0.5% with bank and defence-related shares taking cues from Europe's rally. On Monday, the pan-European...