Hong Kong equities advanced on Friday as investors welcomed fresh policy signals from China's Central Economic Work Conference aimed at strengthening the domestic economy. The Hang Seng Index gained 446.28 points, or 1.8%, to 25,976.79, while the Hang Seng China Enterprises Index added 145.07 points, or 1.6%, to 9,079.35. Chinese leaders promised to implement a more active fiscal policy next year to support consumption and investment. The commitments were detailed in a Xinhua News Agency readout of the annual economic work conference, which defines policy priorities for the year...
The STOXX 50 rose 0.5% and the STOXX 600 gained 0.3% on Friday, marking a second consecutive session of increases and tracking global optimism after the Federal Reserve cut the fed funds rate and struck a less hawkish tone than expected. Bank stocks were among the top performers: BNP Paribas climbed 1.4% after announcing it is in exclusive talks to sell its 67% stake in its Moroccan subsidiary BMCI to Holmarcom Group, while HSBC Holdings (+1.8%), UBS (+4.4%), and Barclays (+1.3%) also advanced. In the retail sector, Adidas (+2.4%) and Puma (+4.5%) recorded solid gains following Lululemon...
Europe's benchmark index dropped on Friday, retreating from the edge of a record high as a selloff in US technology stocks weighed on global gauges. The Stoxx Europe 600 declined 0.5%, reversing earlier gains. The index ended the session within just over 1% of its November closing record. Travel and leisure as well as utilities stocks outperformed, while banks and basic resources led declines. UBS Group AG shares rose 2.5% to the highest level since 2008, after a group of center-right Swiss lawmakers proposed a compromise solution in the debate over the group's...
US stocks closed sharply lower on Friday as a Broadcom-led rout among the largest tech weights sparked a rotation into cyclicals and defensive names. The S&P 500 fell 1% and the Dow gave back 0.4% after touching record highs, while the Nasdaq dropped 1.8%, with Broadcom plunging 11.4% after warning of margin pressure. Other heavyweight, AI-exposed and semiconductor names also posted steep losses, including Nvidia (-3.3%), Oracle (-4.5%), Palantir (-2.1%), AMD (-4.8%), and Micron (-6.7%) setting the pace for a sharp selloff in the sector. The pullback reflects margin concerns and growing...
Asian markets opened lower in the last full trading week of 2025, fueled by concerns about the prospects for tech company profits and growing AI spending. The MSCI regional stock index fell around 0.4%, while South Korea, which has been riding the "AI euphoria" for some time, fell more than 2%. In the US, index futures fluctuated slightly after Wall Street closed lower on Friday, led by weakness in tech stocks. Bitcoin also slumped, dropping to around US$88,000. Global risk-on sentiment is waning as investors begin to question whether tech stocks are still worth their high prices and...