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
Asian stock markets opened lower following Wall Street's rout, as investors again shunned riskier assets. Stocks in Japan and Australia fell, followed by Hong Kong futures. Pressure came primarily from the technology sector, with the Nasdaq 100 falling 1.9% and Nvidia shares plummeting 3.8% to their lowest level since September, dampening global sentiment. The massive sell-off in technology stocks reflected growing investor skepticism about the high valuations and heavy spending of companies involved in the artificial intelligence (AI) boom. Concerns over data center construction costs and...
US stocks closed sharply lower on Wednesday, with the S&P 500 falling 1.2% to mark a fourth consecutive session of losses. The Nasdaq dropped 1.8%, while the Dow Jones ended 228 points lower, also extending its losing streak to four sessions. The tech sector led the declines amid persistent concerns over AI-related valuations. Oracle tumbled 5.4% after reports that its largest data center partner, Blue Owl, declined to back the company's plan to build a $10 billion data center. Nvidia fell 3.8%, Broadcom slid 4.5%, and AMD plunged 5.3%. Amazon shares closed 0.6% lower, giving up early...
European equities were mostly lower on Wednesday, reversing early gains and extending losses for a second consecutive session. The STOXX 50 fell 0.7%, while the STOXX 600 closed little changed. ASML Holding tumbled 4% after a Reuters report showed a team in Shenzhen had completed a working prototype of an EUV machine in early 2025, which will potentially reduce China's demand for ASML's products. Siemens was also down 2% and Schneider Electric fell 2.9%. In contrast, defense stocks rebounded after Germany's parliamentary budget committee cleared more than €50 billion in defense contracts...
Stocks rose Wednesday after the S&P 500 posted a third losing session, as investors weighed newly released U.S. economic data. The S&P 500 traded 0.1% higher along with the Nasdaq Composite. The Dow Jones Industrial Average climbed 146 points, or 0.3%. The U.S. Bureau of Labor Statistics released early Tuesday its November job report, which also included data from October. The findings pulled back the curtain on the U.S.′ economic health following a federal data backup caused by the U.S. government shutdown this fall. The report showed the U.S. economy shed 105,000 jobs in...
The Hang Seng Index rose 233 points, or 0.9%, to close at 25,469 on Wednesday (December 17), ending two consecutive sessions of sharp declines as gains spread across all sectors. The index rebounded from a near four-week low, supported by buying after recent losses. Mainland Chinese markets also recovered, supported by a rebound in technology stocks, which boosted sentiment across the region. Meanwhile, analysts at Goldman Sachs said Chinese equities could rise by around 30% by the end of 2027, citing continued pro-market policies, improving corporate earnings, and continued capital...