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...
Hong Kong stocks tumbled 367 points, or 1.4%, to 26,094 in early Thursday trade, extending for a second session after Wall Street's S&P 500 and Dow Jones slipped from record highs overnight on uneven U.S. economic data. Profit-taking deepened after local markets hit an over seven-week high earlier in the week, amid growing caution ahead of China's December CPI and PPI due Friday. Geopolitical strains added pressure after Beijing banned exports of dual-use items to Japan, in retaliation for remarks on Taiwan by PM Sanae Takaichi. Losses were partly capped by Goldman Sachs's upbeat...
Asian stock markets weakened for the second consecutive day, indicating that the initial rally that had been "speedy" at the start of the year is starting to lose steam. At the same time, US government bonds (Treasuries) maintained their gains after rising in the US trading session, driven by mixed US economic data. In Asia, Japanese and South Korean stocks opened lower. In the US, global stock indexes and the S&P 500 both recorded their first declines in 2026 on Wednesday, signaling that market optimism is starting to wane. Interestingly, Samsung fell 1.5% despite reportedly seeing a...
The Japanese stock market opened lower in morning trading, as escalating diplomatic tensions between Japan and China made the market more cautious about the Japanese economy's future prospects. Selling pressure was most pronounced in the electronics and financial sectors, which were the main drivers of the index's decline. Some investors chose to reduce risk while awaiting clarity on developments in relations between the two countries. Among large stocks, Hitachi Ltd. fell around 1.5%, while Sumitomo Mitsui Financial Group fell 1.6%. These movements added to the burden on the index as both...
US stocks were mixed on Wednesday as investors weighed uneven economic data against expectations for eventual Federal Reserve easing, with the S&P 500 easing 0.2% and the Dow Jones sliding 0.8% from recent record highs, while the Nasdaq 100 gained 0.1%. JOLTS showed a sharp decline in job openings, pointing to cooling labor demand, while ADP reported a modest rebound in private hiring and the ISM Services PMI surprised to the upside, reinforcing the view of a slowing yet resilient economy. At the stock level, JPMorgan Chase and Bank of America fell more than 2%, dragging on the Dow...
European stocks were in mixed territory on Wednesday morning, as regional market jitters grow over U.S. President Donald Trump's threat to annex Greenland. The pan-European Stoxx 600 was little changed shortly after the opening bell, with sectors and major regional bourses in mixed territory. Following the U.S.′ capture and arrest of Venezuela's leader Nicolas Maduro, global market attention is swiftly turning to President Trump's intentions when it comes to Greenland, an autonomous territory of Denmark. The president and his team are considering "a range of options" in order to acquire...