The Hang Seng Index rose for the fourth day, climbing 0.6%, or 150.3 to 27,073.03 in Hong Kong. The index advanced to the highest closing level since Oct. 3. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 3.3%. Sino Biopharmaceutical Ltd. had the largest increase, rising 6.5%. Today, 50 of 88 shares rose, while 35 fell; 2 of 4 sectors were higher, led by commerce and industry stocks. Source: Bloomberg
European stocks closed sharply lower on Thursday after a brief uptick the previous day as investors weighed a fresh round of mixed corporate earnings and signs of higher unemployment in the US. The STOXX 50 fell 1% to 5,613 and the STOXX 600 fell 0.7% to 567. Commerzbank shares slipped 2% after the lender reported a surprise 7.9% year-on-year drop in net profit. Also, Diageo fell 6.5% following a downgrade to its full-year outlook, while Maersk lost 5.1% despite posting upbeat results and Rheinmetall fell 0.5% despite posting a 20% increase in sales. On the upside, DHL jumped 5.4% to rank...
Strong evidence of a cooling US labor market rippled through Wall Street, spurring a rally in bonds as traders boosted their bets the Federal Reserve will cut rates in December. A slide in megacaps dragged down stocks. With the scarcity of data caused by the federal shutdown, investors have turned to private readings such as the Challenger, Gray & Christmas Inc. report showing companies announced the most job cuts for any October in over 20 years. Following the numbers, money markets now imply an about 60% chance of a...
The Hang Seng Index rose 2.1% at 26,485.90 in Hong Kong. The move was the biggest since rising 2.4% on Oct. 20 and follows the previous session's decrease of 0.1%. Today, commerce and industry stocks led the market higher, as all sectors gained; 83 of 88 shares rose, while 4 fell. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 4.1%. China Hongqiao Group Ltd. had the largest increase, rising 9.9%. Source : Bloomberg
European stocks opened lower on Thursday, as investors reacted to another flurry of corporate earnings. The pan-European Stoxx 600 was 0.3% lower 20 minutes into the session, with most sectors and major bourses in negative territory. France's CAC 40 led losses among major regional indexes, with a decline of 0.7%. It's a busy day for earnings with third-quarter reports due from a slew of regional companies. AstraZeneca CEO: ‘We decided to be cautious' AstraZeneca held its guidance steady on Thursday morning, after reporting better-than-expected third-quarter revenues and profit. Total...
The Nikkei 225 index closed up 1.34% to 50,883.68 on Thursday (November 6th), helped by solid US data: the ISM services index hit an eight-month high and the ADP added 42,000 jobs. Sentiment improved after valuation concerns eased, although the market now sees the chance of a Fed rate cut in December down to around 60% from 70% at the start of the week. Domestically, Japan's Services PMI remained in expansion at 53.1, while the composite PMI was at 51.5, and cash wages rose 1.9%, driven by a surge in bonuses. Corporate news: Nissan targets record profits from its headquarters sale-leaseback...