Hong Kong stocks plunged on Friday on fears about a new coronavirus variant that experts say could be more infectious and able to get around vaccines, with firms linked to travel and tourism among the worst hit. The Hang Seng Index tanked 2.7 percent, or 659 points, to 24,080. The Shanghai Composite Index fell 0.6 […]
US stocks closed lower on Friday, with the Dow and S&P 500 suffering their biggest one-day percentage drops in months, and pandemic-hit sectors that had gained from a reopening falling sharply after a new coronavirus mutation was found. Authorities worldwide reacted with alarm on Friday to the coronavirus variant found in South Africa, with the […]
Hong Kong shares rose on Thursday, thanks to gains in recently beaten-down tech firms and following a positive lead from Wall Street, though traders remained on edge over soaring global inflation. The Hang Seng Index added 0.2 percent, or 54 points, to 24,740. The Shanghai Composite Index dipped 0.2 percent, or 8 points, to 3,584, […]
Hong Kong stocks opened sharply lower on Friday, in line with a sell-off across Asia following the discovery of a new virus variant that has several mutations and has fanned fears it could spread globally. The Hang Seng Index sank 1.0 percent to 24,502. The Shanghai Composite Index eased 0.2 percent to 3,576, while the […]
Hong Kong stocks ended lower again on Tuesday as news that Jerome Powell had been nominated by US President Joe Biden to run the Federal Reserve for a second term fanned expectations the bank will tighten monetary policy quicker. The Hang Seng Index slipped 1.2 percent, or 299 points, to 24,651. The Shanghai Composite Index […]
Wall Street stocks were mixed on Tuesday with energy and financial shares advancing, while the tech-rich Nasdaq fell amid worries about higher interest rates. Analysts cited lingering doubts over inflation as a headwind for stocks, along with valuation concerns after indices hit records earlier in the fall. The yield on the 10-year US Treasury note […]
Hong Kong stocks finished with more losses on Monday, as investors kept a worried eye on a spike in Covid cases in Europe that has forced some governments to reintroduce containment measures. The Hang Seng Index dropped 0.4 percent, or 98 points, to 24,951. The Shanghai Composite Index rose 0.6 percent, or 21 points, to […]
Hong Kong stocks suffered a second day of hefty losses on Friday, dragged down by a plunge in market heavyweight Alibaba after the e-commerce giant warned on its revenue outlook and said profit collapsed in the second quarter. The Hang Seng Index tumbled 1.07 percent, or 269.75 points, to 25,049.97. Alibaba dived 10.71 percent. The […]
The Nasdaq Composite Index closed above 16,000 points for the first time on Friday, in its second-straight record finish powered by technology stocks, while pandemic jitters sent the Dow to its fourth losing session in the last five. Both the Nasdaq and S&P 500 index scored a winning week, up 1.2 percent and 0.3 percent […]
Alibaba Group Holding Ltd forecast annual revenue to grow at its slowest pace since its 2014 debut and its second-quarter results missed expectations amid slowing consumption in the country and tighter regulatory scrutiny. The Chinese e-commerce giant said on Thursday that profit for the three months ending September tumbled 81 percent. It came in at […]
Both the S&P 500 and the Nasdaq eked out record closing highs after a topsy-turvy Thursday on Wall Street, as investors focused on upbeat retail and technology earnings which outshone hawkish inflation comments from a Federal Reserve policymaker. By contrast, the Dow continued to play the laggard, registering its third decline this week, as Cisco […]
Hong Kong stocks finished Tuesday with healthy gains, helped by a rally in tech firms. The Hang Seng Index gained 1.3 percent, or 322 points, to 25,713. The Shanghai Composite Index lost 0.3 percent, or 11 points, to 3,521, while the Shenzhen Composite Index dipped 0.5 percent, or 12 points, to 2,449. (AFP)
Hong Kong stocks dipped in the first trades of Wednesday morning, in line with a broad retreat in Asia and following a six-day rally. The Hang Seng Index dipped 0.18 percent to 25,668. The Shanghai Composite Index eased 0.09 percent to 3,519, while the Shenzhen Composite Index on China’s second exchange edged up 0.15 percent […]
US stocks closed higher on Tuesday as earnings from Home Depot and retail sales data signalled solid consumer health and eased worries about a Federal Reserve that may have to become more aggressive in the face of rising inflation. Data showed retail sales jumped 1.7 percent in October, the largest gain since March and above […]
Hong Kong stocks rose in the opening minutes of trade on Tuesday, extending a recent rally, with traders keeping tabs on a virtual summit between presidents Xi Jinping and Joe Biden that comes with Sino-US ties at a low ebb. The Hang Seng Index added 0.22 percent, to 25,447. The Shanghai Composite Index dipped 0.08 […]
Wall Street stocks edged lower Monday ahead of key retail sales data and earnings expected to shed light on the state of US consumers ahead of the holiday shopping season. The October retail sales report, which will be released on Tuesday, is usually closely scrutinised given its proximity to the festive season. But this year’s […]
China’s industrial output and retail sales grew more quickly than expected in October, despite fresh curbs to control Covid-19 outbreaks and supply shortages, but the slowing property sector weighed on the economic outlook. Output grew 3.5 percent in October from the same period a year ago, official data showed on Monday, accelerating from a 3.1 […]
35 percent of Hong Kong citizens said they are open to use cryptocurrencies or central bank digital currencies (CBDCs) as a payment method in the next five years, according to new research from FIS. More than 1,000 Hong Kong consumers aged 18 and above were surveyed in September 2021, and the research found that cryptocurrencies […]
Hong Kong stocks rose at the start of trade Monday, extending gains into a fourth day, following another strong lead from Wall Street and ahead of the release of key Chinese data later in the day. The Hang Seng Index added 0.43 percent, or 110.02 points, to 25,437.99. The Shanghai Composite Index gained 0.11 percent, […]
Hong Kong stocks finished the week on a positive note on Friday with sentiment boosted by easing concerns over troubled developer Evergrande after it paid the interest on its bonds ahead of a deadline this week. The Hang Seng Index rose 0.32 percent, or 79.98 points, to 25,327.97. The Shanghai Composite Index added 0.18 percent, […]