Hong Kong equities closed higher on Friday, with market sentiment boosted by China’s decision to lower a key benchmark rate. The Hang Seng Index rose 2.96 percent, or 596.56 points, to 20,717.24. Both the mainland’s indexes also closed higher. The Shanghai Composite Index jumped 1.60 percent, or 49.60 points, to 3,146.57, while the Shenzhen Composite […]
Hong Kong stocks closed slightly higher on Wednesday, after a day of wavering on the index following a rally on Wall Street. The Hang Seng rose 0.20 percent, or 41.76 points, to 20,644.28. The Shanghai Composite Index dropped 0.25 percent, or 7.72 points, to 3,085.98, while the mainland’s second exchange, the Shenzhen Composite Index, rose […]
Hong Kong equities opened slightly lower on Wednesday, steadying after losses from Wall Street’s rout on fears of economic risks from surging inflation. The Hang Seng Index dipped 0.62 percent at open to 19,512. The Shanghai Composite Index rose 0.32 percent to 3048, while the Shenzhen Composite Index on China’s second exchange rose 0.61 percent […]
Tech firms led a four percent rally in Hong Kong stocks on Friday after a report indicated mainland officials plan to ease their overhaul of the sector. The Hang Seng Index rose 813 points to 21,089. The Shanghai Composite Index rose 2.4 percent, or 71 points, to 3,047, and the Shenzhen Composite Index gained 3.9 […]
Hong Kong shares closed with strong gains on Thursday, in line with an advance across Asia following a positive lead from New York as traders welcomed leaders’ pledges to provide support to the stuttering economy. The Hang Seng Index rose 1.7 percent, or 329 points, to 20,276. The Shanghai Composite Index rose 0.6 percent, or […]
Hong Kong stocks barely moved at the open of trade on Friday as traders struggled to track a strong rally on Wall Street, with tech firms in the spotlight after Apple and Amazon reported below-forecast earnings. The Hang Seng Index inched down to 20,271. The Shanghai Composite Index rose 0.36 percent to 2,986, while the […]
Hong Kong stocks opened with gains on Thursday following a broadly positive lead from Wall Street and Europe and after Chinese officials made further commitments to provide support to the country’s economy. The Hang Seng Index rose 0.9 percent to 20,118. But the Shanghai Composite Index dipped 0.4 percent to 2,945, while the Shenzhen Composite […]
The S&P 500 ended higher on Wednesday following a steep drop the day before, with strong revenue forecasts from Microsoft and Visa helping to alleviate worries about slowing global economic growth and rising interest rates. Microsoft rallied after the software heavyweight late on Tuesday gave a strong revenue forecast, while payments network Visa jumped after […]
The mainland’s economy grew at a faster than expected clip in the first quarter, official data showed on Monday, expanding 4.8 percent year-on-year, but the risk of a sharp slowdown over coming months has risen as Covid-19 curbs and the Ukraine war take a toll. Gross domestic product (GDP) had been forecast to expand 4.4 […]
Americans paid more for petrol, food and other essentials last month amid an ongoing wave of record inflation that Russia’s assault on Ukraine made worse, according to government data released on Tuesday. The Labour Department’s consumer price index (CPI) climbed 8.5 percent over the 12 months to March, a rate – not seen since December […]
Wall Street’s main indexes rose on Monday, boosted by megacap tech and growth stocks and a surge in Twitter after Elon Musk revealed his stake in the company, amid cautionary signals in the bond market and talk of more sanctions against Russia over Ukraine. Gains were relatively concentrated as the financial sector fell, as did […]
British inflation shot up faster than expected last month to hit a new 30-year high, worsening a historic squeeze on household finances that finance minister Rishi Sunak is under pressure to ease in a budget update later on Wednesday. The Office for National Statistics said consumer prices rose by 6.2 percent in February after a […]
Global recorded music revenues rose 18.5 percent to a record US$25.9 billion last year, driven by an increase in paid subscription streaming, according to a report released on Tuesday. The numbers represent the market’s seventh consecutive year of growth. A recovery in physical retail following Covid-19 lockdowns also allowed physical music formats to enjoy growth […]
Hong Kong stocks opened higher on Thursday as investors welcomed Federal Reserve boss Jerome Powell’s indication that the bank will embark on a gradual pace of interest rate hikes to fight inflation. The Hang Seng Index edged up 0.4 percent to 22,434. The Shanghai Composite Index gained 0.3 percent to 3,495, while the Shenzhen Composite […]
Hong Kong stocks finished Wednesday with gains, paring some of the big losses suffered over the previous three days, though investors remain on edge awaiting developments in the Russia-Ukraine crisis. The Hang Seng Index rose 0.60 percent, or 140.28 points, to 23,660.28. The Shanghai Composite Index climbed 0.93 percent, or 32.00 points to 3,489.15, while […]
Inflation on the mainland slowed in January, official data showed on Wednesday, as the government pledged to keep prices in check in the world’s second-biggest economy. The producer price index (PPI), which measures the cost of goods at the factory gate, rose 9.1 percent on-year, according to the National Bureau of Statistics, tracking falls in […]
Wall Street ended lower on Monday, as investors digested recent quarterly results from Facebook owner Meta Platforms and other megacaps, while Peloton jumped following reports of interest from potential buyers, including Amazon. Meta Platforms fell 5.1 percent, adding to losses after its bleak forecast last week caused a record plunge in the social media company’s […]
US consumer prices rose seven percent over 2021, the government announced on Wednesday, confirming the potency of the inflation wave that has troubled President Joe Biden as the economy recovered from the pandemic. The consumer price index (CPI) in the 12 months to December rose at the fastest pace since June 1982, the Labour Department […]
Wall Street’s main indexes closed sharply higher on Tuesday, with strength in travel and tech shares as well as in Nike and Micron Technology following their earnings, as stocks rebounded from a coronavirus-fueled rout the session before. The rapidly spreading Omicron variant of the coronavirus has rattled stock markets around the world, triggering volatility in […]
New provisional government data suggests that local retail sales rose by 12 percent to HK$30.7 billion in October year-on-year. Sales of electrical goods and consumer durable goods witnessed increases of 52.1 percent, followed by a 23.1 percent rise in jewellery, watch and clock sales, and a 15.5 percent increase in the sales of valuable gifts […]