The Hang Seng Tech Index fell 1% to 5,521, indicating renewed pressure on Hong Kong technology stocks in the latest trading session. This decline reflects a more cautious sentiment towards the technology sector, as the index's movement was dominated by selling in large-cap tech companies, which are typically the main movers. With this weakening, market participants will be watching to see whether the index can hold the 5,500-plus area or whether it opens up room for further correction in the near term. (asd) Source: Newsmaker.id
The S&P 500 rose 0.6% to close at a new record on Tuesday (December 24th), while the Nasdaq also rose 0.6% and the Dow Jones Industrial Average added 0.3%, as technology and energy stocks led broad gains. Large-cap stocks mostly rose, led by Nvidia's 3% gain, while Apple rose 0.5%, Microsoft edged up 0.4%, Alphabet added 1.4%, Amazon rose 1.6%, MetaTrader 5 rose 0.5%, and Broadcom rose 2.3%. In contrast, the real estate and consumer staples sectors underperformed. Eli Lilly shares fell 0.5% despite the U.S. Food and Drug Administration (FDA) approving Novo Nordisk's weight-loss pill....
European markets closed higher on Tuesday, paring the previous session's losses. The pan-European Stoxx 600 closed up 0.3%, notching a new record closing high, lifted by surging shares of Copenhagen-listed Novo Nordisk. That brings the benchmark's year-to-date gains to 16%. With a week to go, it looks on track for its third consecutive year of gains. Investors are watching Novo Nordisk stock after the Wegovy-maker gained FDA approval for the first-ever GLP-1 pill, giving the Danish firm a head start over U.S. rival Eli Lilly. Novo stock closed 9.2% higher as the best performer among...
Stocks fell slightly on Tuesday after delayed economic data came in well above expectations, signaling that the U.S. economy may be holding up better than originally thought. The Dow Jones Industrial Average traded 53 points lower, or 0.1%. The S&P 500 and Nasdaq Composite traded around the flatline. The Commerce Department reported that the U.S. economy expanded at 4.3% pace in the third quarter, much better than the 3.2% estimate that economists polled by Dow Jones had forecast. The report — which was postponed from its initially planned release date of Oct. 30 because of the...
European stocks edged higher on Tuesday, with the STOXX 50 up 0.1% and the STOXX 600 gaining 0.3% to reach a fresh record high, rebounding after a mildly negative session the previous day. The advance was led by the pharmaceutical sector. Shares of Novo Nordisk surged nearly 6% after the company received approval from the US Food and Drug Administration to market an oral version of its obesity treatment, Wegovy, in the US. Other major drugmakers also posted gains, with AstraZeneca rising 0.8%, Novartis adding 0.7%, and Roche up 0.6%. Defensive sectors, including telecommunications and...
The Hang Seng dropped 28 points, or 0.1%, to close at 25,774 on Tuesday, reversing early gains led mainly by tech stocks and snapping a four-session winning streak. The decline followed a 3.5% fall in shares of Kuaishou Technology after media reports said the Chinese short-video platform experienced a sudden surge in explicit content due to a cyberattack on Monday. The stock plunged as much as 6%, its biggest one-day percentage drop since October 14, before closing down 3.5%. The company confirmed it had experienced a cyberattack on Monday night and said in a statement on Tuesday that it...