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...
European equity markets are expected to start the new trading week on a cautious note, with global political instability dampening investor sentiment. The ongoing political crises in South Korea and France, coupled with the collapse of Syrian President Bashar al-Assad's regime, add to the uncertainty. Additionally, there are no major economic or earnings releases in Europe on Monday. In pre-market trading, futures on the Euro Stoxx 50 and Stoxx 600 were down around 0.15% and 0.1%, respectively. Source: Trading Economics
The Nikkei 225 index rose 0.18% to close at 39,160, while the broader Topix index rose 0.27% to 2,735 on Monday, recovering losses from the previous session and tracking Wall Street's gains at the end of last week. Investors also eyed revised Japanese third-quarter economic growth data, which indicated the country's second straight quarter of expansion. Business sentiment data later this week will be closely watched for further insight into the health of the economy. However, gains were capped by ongoing global political instability. Political crises in South Korea and France, as well as...
Hong Kong stocks were mostly flat on Monday morning, trading around 19,868 after rallying in the previous session, as investors digested China's November CPI and PPI data. Mainland consumer prices rose 0.2% year-on-year, missing market consensus of 0.5% and marking the weakest gain in five months. Producer prices, meanwhile, fell 2.5%, marking a 26-month decline, although easing from a 2.9% drop in October. Source: Trading Economics
China's producer prices fell 2.5% year-on-year in November 2024, after falling 2.9% in the previous month and below market expectations of 2.8%. This marked the 26th straight month of producer deflation, reflecting continued weakness in domestic demand amid Beijing's ongoing efforts to stem the trend. On a monthly basis, producer prices edged up 0.1%, after falling 0.1% in October. For the first 11 months of the year, producer prices shrank 2.1%. Source: Trading Economics
The Nikkei 225 and Topix indexes showed limited movement on Monday, as global political instability weighed on financial markets. Ongoing political crises in South Korea and France, along with the collapse of Syrian President Bashar al-Assad's regime, contributed to the uncertainty. Domestically, Japan's third-quarter economic growth was revised upward, indicating the country's second consecutive quarter of expansion. Investors are now awaiting business sentiment data later in the week to further assess the health of the economy. Notable declines were seen in index heavyweights such as...