Local stocks headed south on Friday as investors struggled to maintain the previous day’s rally, with education and tech shares suffering the biggest losses. The Hang Seng Index had opened the day 17 points higher, after Wall Street edged higher overnight as traders were buoyed by healthy earnings results. But the local benchmark was unable […]
US equity markets gained ground for the fourth straight session on Friday, extending a rally that pushed all three major US stock indexes to record closing highs as upbeat earnings and signs of economic revival fueled investor risk appetite. The S&P 500, the Nasdaq and the Dow all notched weekly gains. “We see a continuation […]
Sales of existing homes rose higher in the United States last month, snapping a four-month streak of declines as prices rose to a new record high, industry data released Thursday said. Sales of houses, flats and townhomes rose 1.4 percent compared to May to a seasonally-adjusted annual rate of 5.86 million, the National Association of […]
The Hang Seng Index rebounded on Thursday, as did other markets in the region, after forecast-beating earnings reports boosted investor confidence and pushed Wall Street higher. The local benchmark began the day more than 200 points higher and surged by as many as 535 points before wrapping up the day 499 points, or 1.8 percent, […]
Hong Kong stocks began Friday morning slightly higher, extending the previous day’s rally as Wall Street inched towards a new record, with traders cheered by more healthy earnings results. The Hang Seng Index edged up 0.06 percent to 27,741. The Shanghai Composite Index eased 0.08 percent to 3,572, while the Shenzhen Composite Index slipped 0.11 […]
Big tech helped Wall Street inch up to a higher close on Thursday, modestly building on a two-day rally as lacklustre economic data and mixed corporate earnings prompted a pivot back to growth stocks. A pull-back in economically sensitive cyclicals kept the S&P 500’s and the blue-chip Dow’s gains muted, while small-caps underperformed their larger […]
The Hong Kong market failed to hold onto its early gains and closed in the red on Wednesday, as investors continued to move to safe haven assets in view of the global spread of the Delta coronavirus variant. The Hang Seng Index took the cue from Wall Street and started 79 points higher, but then […]
Wall Street stocks posted their second straight daily gain on Wednesday, with robust corporate earnings and renewed optimism about the US economic recovery fueling a risk-on rally. All three major US stock indexes added to their previous session’s advance, placing all three within 1 percent of their all-time closing highs. Economically sensitive smallcaps, semiconductors and […]
Shares in Hong Kong retreated for a second day on Tuesday, after the Dow on Wall Street suffered its worst drop since October amid worries about the economic impact of the spread of a more contagious Covid variant. The Hang Seng Index began 93 points lower and, despite a couple of jumps into the black […]
Hong Kong stocks opened higher on Wednesday following a two-day sell-off as investors tracked a rebound on Wall Street and in Europe, though concerns about the fast-spreading Delta virus variant continued to weigh on sentiment. The Hang Seng Index added 0.3 percent to 27,339. The Shanghai Composite Index edged up 0.2 percent to 3,543, while […]
Growing fears over the spread of the Delta coronavirus variant globally and persistent concerns over inflation sent most shares in the region lower on Monday, with the Hong Kong benchmark falling below the 28,000-mark. The Hang Seng Index followed the lead of Wall Street to open down more than 200 points, before further sliding to […]
A surge in Delta variant infections sparked a broad sell-off on Wall Street on Monday as investors feared renewed Covid-19 shutdowns and a protracted economic recovery. All three major US stock indexes ended the session sharply lower, with the S&P and the Nasdaq suffering their largest one-day percentage drop since mid-May. The blue-chip Dow had […]
Chinese electronics firm Xiaomi has overtaken Apple as the number two global smartphone maker in a sizzling market with consumers emerging from lockdowns, a new survey showed. The Canalys survey of second-quarter sales released Thursday showed worldwide smartphone sales up 12 percent, with South Korea’s Samsung holding its top position with a 19 percent market […]
Hong Kong stocks gave up earlier gains to finish only marginally higher on Friday, as investors looked ahead to see if new US retail sales and consumer sentiment data would sway the Federal Reserve’s dovish monetary policy stance. The Hang Seng Index opened slightly lower but reversed course to climb into positive territory before lunch. […]
US stock markets ended lower on Friday, weighed down by declines in Amazon, Apple and other heavyweight technology stocks, while investors worried about a rise in coronavirus cases tied to the highly contagious Delta variant. On Thursday, Los Angeles County said it would reimpose its mask mandate this weekend. On Friday, public health officials said […]
Local shares finished in positive territory on Thursday while their peers in the region headed in different directions, after the world’s second largest economy reported second quarter economic growth that came in slightly below forecast. The Hang Seng Index opened 13 points higher, after US shares finished mixed following Federal Reserve chief Jerome Powell’s pledge […]
Hong Kong stocks edged lower in opening trade on Friday following a mixed finish on Wall Street and ahead of an expected advisory by US President Joe Biden warning over doing business in the city. The Hang Seng Index slipped 0.08 percent to 27,973. The Shanghai Composite Index slipped 0.14 percent to 3,559, while the […]
The Nasdaq ended lower on Thursday, pulled down by Apple, Amazon and other Big Tech companies as a fall in weekly jobless claims data fed investor concerns about a recent inflation spike. Amazon, Apple Tesla and Facebook all fell. Nvidia tumbled around 4 percent. The S&P 500 technology sector index ended a four-day winning streak. […]
Shares in the region finished mostly lower, after US inflation hiked the most in 13 years and renewed fears that the Federal Reserve could scale back its easing programme sooner than expected. The Hang Seng Index opened flat and went south. It fell as many 254 points before clawing back some of the losses to […]
Hong Kong stocks opened higher on Thursday after Federal Reserve chief Jerome Powell said the US economic recovery had a way to go before the central bank would consider tapering its stimulus. The Hang Seng Index rose 0.31 percent to 27,873 in the first minutes of trade. The Shanghai Composite Index slipped 0.31 percent to […]