Hong Kong Stock Market May Add To Its Winnings

RTTNews | hace 1055
Hong Kong Stock Market May Add To Its Winnings

(RTTNews) - The Hong Kong stock market has tracked higher in two straight sessions, surging almost 1,300 points or 7 percent along the way. The Hang Seng Index now sits just beneath the 18,600-point plateau and it's got another solid lead for Thursday's trade.

The global forecast for the Asian markets is upbeat on an improved outlook for interest rates. The European and U.S. markets finished higher and the Asian bourses are expected to open in similar fashion.

The Hang Seng finished sharply higher again on Wednesday following gains from the financials, properties, technology stocks and oil companies.

For the day, the index rallied 392.55 points or 2.16 percent to finish at 18,597.23 after trading between 18,052.32 and 18,645.35.

Among the actives, Alibaba Group added 1.46 percent, while Alibaba Health Info spiked 4.75 percent, ANTA Sports rallied 3.71 percent, China Life Insurance collected 1.89 percent, China Mengniu Dairy soared 5.30 percent, China Petroleum and Chemical (Sinopec) jumped 2.51 percent, China Resources Land rose 0.70 percent, CITIC rallied 2.57 percent, CNOOC perked 0.20 percent, Country Garden sank 0.93 percent, CSPC Pharmaceutical improved 2.04 percent, Galaxy Entertainment climbed 2.30 percent, Hang Lung Properties surged6.84 percent, Henderson Land soared 5.76 percent, Hong Kong & China Gas gathered 0.61 percent, Industrial and Commercial Bank of China gained 0.77 percent, JD.com accelerated 3.80 percent, Lenovo advanced 2.17 percent, Li Ning surged 5.79 percent, Longfor increased 1.95 percent, Meituan spiked5.28 percent, New World Development fell 0.22 percent, Techtronic Industries rallied 4.39 percent, Xiaomi Corporation jumped 3.51 percent and WuXi Biologics strengthened 2.45 percent.

The lead from Wall Street ends up sharply positive as the major averages opened fairly flat and stayed that way before exploding higher late in the day.

The Dow surged 737.24 points or 2.18 percent to finish at 34,589.77, while the NASDAQ soared 484.22 points or 4.41 percent to end at 11,468.00 and the S&P 500 rallied 122.48 points or 3.09 percent to close at 4,080.11.

The rally on Wall Street came as Federal Reserve Chair Jerome Powell's remarks provided further evidence the central bank plans to slow its aggressive pace of interest rate hikes as soon as next month.

The Fed's next monetary policy meeting is scheduled for December 13-14, with CME Group's FedWatch Tool currently indicating a 77.0 percent chance of a 50-basis point rate hike and a 23.0 percent chance of a fifth straight 75-basis point rate hike.

In economic news, payroll processor ADP noted slower than expected private sector job growth in November, while the Commerce Department reported an unexpected upward revision to GDP growth in the third quarter.

Crude oil futures surged on Wednesday after data showed a steep drop in U.S. crude inventories last week. Expectations of increased demand from China and a weaker dollar also contributed to the jump in oil prices. West Texas Intermediate Crude oil futures for January ended higher by $2.35 or 3 percent at $80.55 a barrel.

Closer to home, Hong Kong will provide October data for retail sales later today; in September, sales were down 1.5 percent on year.

read more
Swiss Market Ends Marginally Down

Swiss Market Ends Marginally Down

Despite staging a recovery in the final hour of the day's trading session, the Switzerland market ended marginally down on Tuesday.
RTTNews | hace 1h 30min
European Stocks Close Mostly Higher

European Stocks Close Mostly Higher

European markets closed mostly higher on Tuesday, supported by gains in defense sector amid renewed concerns about tensions in the Middle East, and a lack of progress in Russia-Ukraine peace efforts. Slightly easing U.S.-China trade tensions, and expectations of a resolution to the government shutdown in the U.S. aided sentiment.
RTTNews | hace 1h 53min
Bay Street May Open On Subdued Note; CPI Data In Focus

Bay Street May Open On Subdued Note; CPI Data In Focus

Slightly lower Canadian and U.S. futures, and weak bullion prices point to a negative start for the Canadian market on Tuesday. Investors will also be reacting to Canadian consumer price inflation data.
RTTNews | hace 7h 44min
FTSE 100 Climbs Higher; Segro, HSBC Holdings Post Strong Gains

FTSE 100 Climbs Higher; Segro, HSBC Holdings Post Strong Gains

The FTSE 100 index of the U.K. market is modestly higher on Tuesday with investors picking up stocks ahead of quarterly earnings announcements from big name companies, due from this week. Slightly easing U.S.-China trade tensions appear to be aiding sentiment a bit.
RTTNews | hace 8h 11min
CAC 40 Advances; Edenred Soars On Strong Earnings

CAC 40 Advances; Edenred Soars On Strong Earnings

French stocks are modestly higher on Tuesday amid slightly easing U.S.-China trade tensions, and expectations of a resolution to the government shutdown in the U.S. Investors are reacting to some corporate earnings updates
RTTNews | hace 8h 38min
UK Budget Deficit Overshoots Estimate

UK Budget Deficit Overshoots Estimate

The UK budget deficit surpassed the official estimate in the financial year to September, reaching the second highest level on record due to higher debt costs, data from the Office for National Statistics showed on Tuesday. In the first half of the year, public sector net borrowing rose by GBP 11.5 billion from the last year to GBP 99.8 billion.
RTTNews | hace 9h 1min
DAX Modestly Lower In Cautious Trade; Siemens Energy, BASF Drift Lower

DAX Modestly Lower In Cautious Trade; Siemens Energy, BASF Drift Lower

German stocks are somewhat subdued on Tuesday with investors looking for directional clues. With earnings updates set to pour in from this week, investors are currently following the developments on the trade front and tracking geopolitical news as well.
RTTNews | hace 9h 21min