Hong Kong shares open up

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 […]

US stocks gain on earnings, economy hopes

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 […]

Xiaomi dethrones Apple as sales surge

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 […]

HSI rises on China growth, dovish Fed

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 […]

Big tech stocks drag down Nasdaq

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. […]