Hong Kong stocks opened higher on Tuesday, following Wall Street's rally, amid hopes of fresh stimulus after a report showed China's manufacturing activity remained weak. The Hang Seng Index rose 0.4% to 26,736.44, while Hang Seng Tech added 1%. Technology and e-commerce stocks led the gains, with Alibaba surging nearly 2%, JD.com rising 0.8%, and Semiconductor Manufacturing International surging 3.7%. Meanwhile, Baidu and Trip.com shares weakened, while New Oriental plunged nearly 2%. Official data showed China's manufacturing PMI in September stood at 49.8, marking the sixth consecutive...
The pan-European Stoxx 600 index provisionally closed just below the flatline on Wednesday, with sectors diverging as second quarter earnings season ramped up. The U.K.'s FTSE 100 finished flat, while France's CAC 40 nudged 0.06% higher, and Germany's DAX rose 0.23%. The euro extended its recent slide against the U.S. dollar, taking losses since the EU-U.S. trade deal announcement over the weekend to 2.3%. The U.S. dollar index was 0.6% higher following better-than-expected economic growth data and ahead of the Federal Reserve's interest rate decision. Source : CNBC
The S&P 500 edged up 0.1% and the Nasdaq 0.3% on Wednesday (July 30), while the Dow Jones Industrial Average hovered near the flatline, as investors awaited the Fed's policy decision and assessed key economic data. The Fed is expected to keep its benchmark interest rate unchanged, with the market closely monitoring its outlook for the remainder of the year, especially after preliminary data showed US GDP grew stronger than expected by 3% in Q2, reinforcing signs of a resilient economy. Furthermore, ADP data showed the US private sector added 104,000 jobs in July, significantly higher...
The Hang Seng Index fell 347 points, or 1.4%, to close at 25,177 on Wednesday (July 30th), extending losses from the previous session amid widespread declines. Technology stocks slumped 2.7%, while consumer discretionary and financial stocks each fell about 1.5%, after US-China trade talks ended without substantial progress, leaving President Trump with the final decision on tariffs. Caution is also growing ahead of today's Fed interest rate decision, with analysts saying most officials prefer to assess the inflationary impact of tariffs, especially with Trump's August 1st deadline...
European stocks declined on Wednesday, with both the STOXX 50 and STOXX 600 slipping nearly 0.2%, reversing modest gains from the previous session, with investors continuing to focus on fresh corporate earnings. Hermès fell more than 2% after its results disappointed investors, while L'Oréal dropped 0.8% following second-quarter sales that missed forecasts. HSBC tumbled 4.4% despite reporting revenue growth and announcing a $3 billion share buyback. Adidas sank nearly 8% after posting weaker-than-expected revenue growth and warning that tariffs would raise prices in the US. In contrast,...
The Nikkei 225 Index shed 0.05% to close at 40,655 while the broader Topix Index gained 0.4% to 2,920 on Wednesday, with Japanese shares struggling for clear direction as investors braced for the latest Bank of Japan monetary policy decision. The central bank is widely expected to keep interest rates unchanged on Thursday amid uncertainty over the economic fallout from recent US tariffs. However, the central bank is likely to raise its inflation forecast in its quarterly outlook, reflecting ongoing price pressures. Investors also weighed prospects of another extension to the tariff truce...