Higher Open Anticipated For Hong Kong Shares

RTTNews | il y a 574
Higher Open Anticipated For Hong Kong Shares

(RTTNews) - The Hong Kong stock market has moved higher in back-to-back sessions, surging almost 950 points or 6.3 percent along the way. The Hang Seng Index now rests just beneath the 15,900-point plateau and it's likely to open in the green again on Thursday.

The global forecast for the Asian markets is mixed to higher and will be dependent on earnings news. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The Hang Seng finished sharply higher on Wednesday with gains in every sector, especially energy and technology.

For the day, the index skyrocketed 545.89 points or 3.56 percent to finish at 15,899.87 after trading between 15,412.10 and 15,975.11.

Among the actives, Alibaba Group skyrocketed 7.32 percent , while Alibaba Health Info climbed 3.83 percent, ANTA Sports rallied 4.56 percent, China Life Insurance soared 4.88 percent, China Mengniu Dairy increased 1.31 percent, China Resources Land strengthened 3.84 percent, CITIC advanced 3.72 percent, CNOOC jumped 3.92 percent, Country Garden surged 5.93 percent, CSPC Pharmaceutical gained 2.60 percent, ENN Energy skyrocketed 9.09 percent, Galaxy Entertainment accelerated 4.68 percent, Hang Lung Properties added 2.68 percent, Henderson Land improved 2.91 percent, Hong Kong & China Gas rose 1.10 percent, Industrial and Commercial Bank of China jumped 3.60 percent, JD.com spiked 4.69 percent, Lenovo was up 0.80 percent, Li Ning surged 6.94 percent, Meituan soared 6.03 percent, New World Development rose 2.36 percent, Techtronic Industries gathered 1.02 percent, Xiaomi Corporation rallied 3.63 percent and WuXi Biologics advanced 3.34 percent.

The lead from Wall Street suggests mild upside as the major averages opened higher on Wednesday and largely stayed that way, although the Dow slipped into the red by the close.

The Dow dropped 99.06 points or 0.26 percent to finish at 37,806.39, while the NASDAQ gained 55.97 points or 0.36 percent to end at 15,481.92 and the S&P 500 perked 3.95 points or 0.08 percent to close at a fresh record high of 4,868.55.

Technology stocks helped lead the way higher in early trading on Wall Street, with shares of Netflix (NFLX) soaring by 10.7 percent after the streaming giant reported better than expected fourth quarter revenues.

Buying interest waned over the course of the session, reflecting renewed interest rate concerns amid a rebound by treasury yields. Yields moved lower early in the session but bounced higher following some upbeat U.S. economic data and a disappointing five-year note auction.

Oil prices climbed higher on Wednesday on data showing a larger-than-expected decline in U.S. crude inventories, while a weak dollar also contributed to the increase in oil prices. West Texas Intermediate Crude oil futures for March added $0.72 or nearly 1 percent at $75.09 a barrel.

Closer to home, Hong Kong will see December data for imports, exports and trade balance later today. In November, imports were up 7.1 percent on month and exports added 7.4 percent for a trade deficit of HKD27.9 billion.

read more
New Zealand Trade Data On Tap For Thursday

New Zealand Trade Data On Tap For Thursday

New Zealand will on Thursday release July numbers for imports, exports and trade balance, highlighting a modest day for Asia-Pacific economic activity. In June, imports were worth NZ$6.49 billion and exports were at NZ$6.63 billion for a trade surplus of NZ$142 million.
RTTNews | il y a 38 minutes
Fed Minutes Reveal Details Behind Split Interest Rate Decision

Fed Minutes Reveal Details Behind Split Interest Rate Decision

The minutes of the Federal Reserve's latest monetary policy meeting revealed most officials still see the upside risk to inflation as the bigger threat to the economic outlook, although a couple were more worried about the downside risk to employment.
RTTNews | il y a 4h 19min
TSX Modestly Higher As Materials, Energy Stocks Gain

TSX Modestly Higher As Materials, Energy Stocks Gain

The Canadian market is modestly higher Wednesday afternoon, lifted by strong gains in materials and energy sectors. The mood remains a bit cautious ahead of the Federal Bank's symposium in Jackson Hole, Wyoming, where several central bank chiefs including Fed Chair Jerome Powell are set to make speeches.
RTTNews | il y a 4h 34min
Swiss Market Ends On Firm Note

Swiss Market Ends On Firm Note

After a weak start and a subsequent drop to lower levels, the Switzerland market recovered and stayed subdued till around mid morning on Wednesday, but kept edging higher as the day progressed to eventually ended the session on a firm note. Optimism about a potential peace deal between Russia and Ukraine supported the market.
RTTNews | il y a 5h 1min
European Stocks Closed On Mixed Note

European Stocks Closed On Mixed Note

European stocks turned in a mixed performance on Wednesday after another cautious session, as investors looked ahead to the Federal Reserve's Jackson Hole Symposium that gets underway on Thursday, and continued to focus on the developments on the trade and geopolitical front.
RTTNews | il y a 5h 16min
Target Q2 Down, Yet Beats Street, Backs FY25 View, Names Michael Fiddelke CEO; Shares Hit

Target Q2 Down, Yet Beats Street, Backs FY25 View, Names Michael Fiddelke CEO; Shares Hit

Shares of Target Corp. were losing around 11 percent in the pre-market activity on the NYSE, after the retail major reported Wednesday lower profit and comparable sales in its second quarter. However, earnings per share and top line beat market estimates, and the firm maintained its fiscal 2025 outlook. Separately, Target announced the appointment of Michael Fiddelke, chief operating officer,
RTTNews | il y a 9h 47min