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 Nikkei 225 Index gained 0.53% to close at 39,367, while the broader Topix Index rose 0.25% to 2,741 on Tuesday, extending gains from the previous session. The rally was driven by optimism following China's announcement of "more proactive" fiscal measures and a "moderately" looser monetary policy, which boosted market sentiment across the region. Japanese stocks also defied the selloff on Wall Street overnight, where major US technology names faced pressure. Domestically, investors are eyeing business sentiment data later this week to assess the health of the Japanese economy. Market...
The Hong Kong stock market jumped 297 points or 1.5% to 20,717 on Tuesday morning trade, surging for the third session and reaching its highest level in a month after a readout of China's Politburo meeting indicated that China next year will adopt a more proactive fiscal policy to bolster recovery, alongside an appropriately loose monetary policy for the first time in 14 years. Beijing will also focus on boosting demand and spurring consumption. Traders keenly anticipated the Central Economic Work Conference this week, where key targets and policy directions for 2025 will be set. However,...
The Nikkei 225 index rose 0.3% to above 39,200, while the broader Topix index gained 0.4% to 2,745 on Tuesday, extending gains from the previous session. The rally was driven by optimism following China's announcement of "more proactive" fiscal measures and "moderately" loose monetary policy, which boosted market sentiment across the region. Japanese stocks also defied a selloff on Wall Street overnight, with major U.S. technology names facing pressure. At home, investors are eyeing business sentiment data later this week to gauge the health of the Japanese economy. Market expectations...
Asia-Pacific markets opened mostly higher Tuesday, following losses on Wall Street that saw the S&P 500 and Nasdaq Composite pull back from record highs ahead of key inflation data. Traders in Asia assessed Beijing's announcement of "more proactive" fiscal measures and "moderately" looser monetary policy next year aimed at boosting domestic consumption. The news, which came from an official readout late Tuesday after mainland China market had closed, sent Hong Kong's Hang Seng index nearly 3% higher. Hang Seng index futures were at 21,359, higher than the HSI's last close of...
Wall Street's main indexes finished lower on Monday, fueled by a decline in AI leader Nvidia that weighed on tech stocks, as investors looked ahead to a crucial inflation report set for later this week. Nvidia (NVDA.O), opens new tab fell after China's market regulator launched an investigation into the chipmaker over suspected violation of antimonopoly law, dragging down the information technology sector (.SPLRCT), opens new tab. According to preliminary data, the S&P 500 (.SPX), opens new tab lost 35.69 points, or 0.60%, to end at 6,053.68 points, while the Nasdaq Composite (.IXIC),...