The Hang Seng Index fell for the second day, dropping 0.8%, or 156.23 to 20,155.05 in Hong Kong. Meituan contributed the most to the index decline, decreasing 2.8%. Hang Lung Properties Ltd. had the largest drop, falling 3.7%. Today, 55 of 83 shares fell, while 26 rose; 3 of 4 sectors were lower, led by commerce and industry stocks. Source : Bloomberg
Stocks in Europe closed higher Wednesday, with the STOXX 50 adding 0.2% and the STOXX 600 rising 0.3%, after inflation in the US came in line with expectations, reinforcing bets the Fed will deliver another 25bps rate cut in the fed funds rate next week. In addition, traders await the ECB monetary policy decision tomorrow, expecting a fourth rate cut and clues on next year's rate policy. Meanwhile, a batch of corporate updates prevented further gains. Inditex shares tumbled 6.5% following weaker-than-expected third-quarter sales results. SAP was also under pressure, falling about 0.6%. In...
The S&P 500 gained 0.9% on Wednesday, moving closer to its all-time highs, while the Nasdaq 100 surged 1.7%, reaching a new record. This rally followed November's inflation report, which aligned with economists' expectations and bolstered hopes for a likely Federal Reserve rate cut at its upcoming meeting. However, the Dow Jones lost 104 points, weighed down by a 5.6% slide in UnitedHealth shares. Tech stocks spearheaded the rally, pushing the sector's year-to-date gains beyond 24%, with significant contributions from communication services and consumer discretionary stocks. The...
The Nikkei 225 index edged up 0.01% to close at 39,372 on Wednesday, ending almost flat after weak signals from Wall Street overnight, as investors braced for a key US inflation report. Market sentiment was also affected by mixed economic data from Japan. The Reuters Tankan index turned negative in December, while the BSI manufacturing sentiment reading showed improvement in the fourth quarter. Additionally, data revealed that Japanese producer prices rose at the fastest pace in 16 months in November. Notable performers were index heavyweights Kawasaki Heavy (+10.3%), IHI Corp (6.3%) and...
Asia-Pacific opened higher Wednesday, following gains on Wall Street that saw the Nasdaq Composite surge to record highs after November's inflation report met expectations. Traders in Asia assessed jobs data from Australia, which showed the country's unemployment rate dropped to 3.9% in November from 4.1% the month prior. A poll of economists from Reuters had expected the rate to rise to 4.2%. Australia's S&P/ASX 200 was trading 0.1% higher. Japan's Nikkei 225 climbed 1.7% at market open, while the Topix gained 1.3%. South Korea's Kospi index opened up 1%, while the small-cap Kosdaq...