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 Shanghai Composite rose 0.6% to above 3,280 while the Shenzhen Component gained 0.1% to 10,430 on Tuesday, with mainland stocks recovering losses from the previous session amid hopes that Beijing would implement more stimulus measures to support economic growth and mitigate the impact of escalating US tariffs. However, sentiment remained cautious as US President-elect Donald Trump announced plans to impose an additional 10% tariff on all Chinese goods entering the US. Notable performers included East Money Information (+1.5%), Guangdong Dongfang (+2.3%), Zhejiang Jinke (+4.6%),...
The Nikkei 225 Index fell 1.7% to drop below 38,200, while the broader Topix Index declined 1.2% to 2,684 on Tuesday, reversing two days of gains as global sentiment soured. The downturn followed US President-elect Donald Trump's announcement of a 10% additional tariff on all Chinese goods and a 25% tariff on imports from Mexico and Canada, raising concerns over global trade tensions. Japan, with its heavy reliance on exports to China, remains vulnerable to fluctuations in China's economic activity. Domestically, investors are also focused on Tokyo's upcoming inflation data, which is seen...
Asia-Pacific markets fell on Tuesday, failing to track gains on Wall Street as US benchmarks hit record highs following President-elect Donald Trump's choice for Treasury secretary. Australia's S&P/ASX 200 traded 0.28% lower, after hitting an all-time closing high on Monday. Japan's Nikkei 225 fell 0.82%, while the Topix fell 0.64%. Japan's services PPI rose 2.9% year-on-year, compared with a 2.8% gain the previous month. The Kospi fell 0.40% in the first hour of trading. Hong Kong's Hang Seng index futures were at 19,245, up from the HSI's last close of 19,150.99. Traders in...
U.S. stocks rise as investors greet the appointment of Scott Bessent to lead the Treasury Department, on hopes he could blunt some potentially inflationary policies. Super Micro Computer adds 16% to a winning streak started when it cleared a regulatory issue with Nasdaq and rose 78% last week. Bath & Body Works rises 17% after the retailer beats earnings forecasts and raises its guidance. Treasury yields and the dollar decline, ahead of a heavy flow of data before Thanksgiving. The DJIA gains 440 points, or 1%, to 44737, its 45th record this year. The S&P and Nasdaq rise slightly,...
European stocks closed slightly higher Monday, buoyed by positive sentiment stateside. The pan-European Stoxx 600 ended 0.14% higher, with most sectors and major bourses in the green. Household goods and mining stocks led gains, both adding 1.21%, while oil and gas stocks fell 1%. Source: CNBC