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 jumped 1.3% to close at 38,780 while the broader Topix Index gained 0.71% to 2,716 on Monday, with Japanese shares rising for the second straight session after coming under pressure over the past two weeks. Local shares also mirrored gains in US futures, as President-elect Donald Trump nominated hedge fund manager Scott Bessent for Treasury Secretary, removing a source of uncertainty for markets. Looking ahead, investors are focused on Tokyo's inflation figures, due for release this week, as they are seen as a leading indicator of nationwide price trends. Technology...
Hong Kong stocks rose 21 points, or 0.12%, to 19,258 on Monday morning (11/25) after falling in the previous two sessions, mainly supported by gains in the financial sector. The market is trying to recover from a near two-month low after China's central bank kept the interest rate on its one-year medium-term lending facility unchanged at 2% for a second straight month following a record 30bps cut in September. Meanwhile, U.S. stock futures jumped as concerns over Donald Trump's impact on other countries' economies eased after the president-elect named Scott Bessent as Finance Minister....
The Nikkei 225 jumped 1.5% to above 38,800 while the broader Topix index gained 0.9% to 2,720 on Monday, with Japanese shares rising for a second straight session after suffering losses over the past two weeks. Local shares also mirrored Wall Street's gains, as strong U.S. economic data and optimism over the election outcome continued to support equities. Looking ahead, investors are focused on Tokyo's inflation figures, due later this week, as they are seen as a leading indicator of national price trends. Technology stocks led the rally, with significant gains from Lasertec (+3.2%), Tokyo...
The Dow Jones Industrial Average closed at a new record on Friday, capping off a winning week for stocks. The blue-chip Dow gained 426.16 points, or 0.97%, to 44,296.51, a new all-time closing high and its third straight positive session. The S&P 500 added 0.35% to finish at 5,969.34 for its fifth winning day in a row. The technology-heavy Nasdaq Composite rose 0.16% to 19,003.65. Gains were restricted by slides of more than 3% and 1% in Nvidia and Alphabet, respectively. The Dow ended the week about 2% higher, while the S&P 500 and Nasdaq each added about 1.7%. That marks a turn...
European stocks closed higher on Friday, as investors reviewed weak economic indicators from across the region which built expectations for central bank rate cuts. The pan-European Stoxx 600 index provisionally closed 1.18% higher, with all sectors except banks ending in positive territory. Health care and retail stocks led the gains, both up over 2%, while Europe's banking index slipped 2%. In the U.K., the pound fell to a six-month low against the U.S. dollar following U.K. retail sales data. The country's Office for National Statistics said that retail sales volumes lost 0.7%...