Hang Seng May Extend Wednesday's Gains

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(RTTNews) - The Hong Kong stock market on Wednesday wrote a finish to the two-day slide in which it had stumbled more than 350 points or 1.7 percent. The Hang Seng Index now sits just above the 19,160-point plateau and it may see additional support on Thursday.

The global forecast for the Asian markets is broadly positive on bargain hunting and expectations for solid earnings news. The European and U.S. markets were sharply higher and the Asian bourses figure to follow suit.

The Hang Seng finished modestly higher on Wednesday as gains from the financial shares and technology stocks were limited by weakness from the property sector.

For the day, the index gained 65.69 points or 0.34 percent to finish at 19,160.49 after trading between 19,063.30 and 19,255.74.

Among the actives, Alibaba Group gained 0.48 percent, while Alibaba Health Info rallied 2.08 percent, ANTA Sports fell 0.15 percent, China Life Insurance jumped 1.67 percent, China Resources Land rose 0.15 percent, CITIC and CNOOC both dropped 0.51 percent, Country Garden added 0.54 percent, CSPC Pharmaceutical eased 0.12 percent, Galaxy Entertainment advanced 0.60 percent, Haier Smart Home surged 2.92 percent, Hang Lung Properties declined 1.08 percent, Hong Kong & China Gas tumbled 1.62 percent, Industrial and Commercial Bank of China collected 0.79 percent, JD.com sank 0.64 percent, Lenovo strengthened 0.97 percent, Li Ning soared 2.61 percent, Meituan retreated 0.74 percent, New World Development tanked 2.06 percent, Techtronic Industries plunged 2.12 percent, WuXi Biologics spiked 2.50 percent and China Mengniu Dairy, Henderson Land and Xiaomi Corporation were unchanged.

The lead from Wall Street is upbeat as the major averages opened higher on Wednesday and remained solidly in the green throughout the session.

The Dow surged 526.74 points or 1.60 percent to finish at 33,376.48, while the NASDAQ spiked 162.26 points or 1.54 percent to end at 10,709.37 and the S&P 500 jumped 56.82 points or 1.49 percent to close at 3,878.44.

The rally on Wall Street came as stocks continued to benefit from bargain hunting and upbeat earnings news from companies like Nike (NKE) and FedEx (FDX).

In economic news, the Conference Board reported a significant improvement in U.S. consumer confidence in December. But the National Association of Realtors noted a continued slump in U.S. existing home sales in November.

Crude oil prices rose sharply on Wednesday after data showed a larger than expected drop in U.S. crude inventories last week. West Texas Intermediate Crude oil futures for February ended higher by $2.06 at $78.29 a barrel.

Canadian Market Looks Headed For Another Positive Close

The Canadian market is firmly placed in positive territory Thursday afternoon, thanks largely to a fine performance by several technology stocks, and a few frontline stocks from consumer discretionary, real estate, communications and financials sectors.

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Swiss Market Closes On Buoyant Note

The Switzerland market closed on a strong note on Thursday, in line with most of the markets across Europe, amid rising expectations of a rate cut by the Federal Reserve, and easing concerns about tariffs.

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European Stocks Close Higher Ahead Of Crucial U.S. Jobs Data

European stocks closed mostly higher on Thursday, with most of the markets in the region gaining for a second straight day amid cooling bond markets. Still, the mood in the markets remained a bit cautious with investors looking ahead to crucial U.S. non-farm payroll data on Friday.

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U.S. Services Index Climbs To Six-Month High In August

Service sector growth in the U.S. accelerated by more than anticipated in the month of August, according to a report released by the Institute for Supply Management on Thursday. The ISM said its services PMI rose to 52.0 in August from 50.1 in July, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.5.

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U.S. Labor Productivity Surges 3.3% In Q2, Much More Than Previously Estimated

A report released by the Labor Department on Thursday showed labor productivity in the U.S. surged by much more than previously estimated in the second quarter of 2025. The Labor Department said labor productivity shot up by 3.3 percent in the second quarter compared to the previously reported 2.4 percent jump. Economists had expected the increase in labor productivity to be unrevised.

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U.S. Trade Deficit Widens More Than Expected As Imports Spike

With the value of imports spiking, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened more than expected in the month of July. The Commerce Department said the trade deficit shot up to $78.3 billion in July from a revised $59.6 billion in June. Economists had expected the trade deficit to increase to $75.7 billion.

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U.S. Jobless Claims Rise More Than Expected To Two-Month High

A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits rose by more than expected in the week ended August 30th. The Labor Department said initial jobless claims climbed to 237,000, an increase of 8,000 from the previous week's unrevised level of 229,000.

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U.S. Private Sector Job Growth Slows More Than Expected In August

A report released by payroll processor ADP on Thursday showed private sector employment in the U.S. increased by less than expected in the month of August. ADP said private sector employment rose by 54,000 jobs in August after jumping by an upwardly revised 106,000 jobs in July. Economists had expected private sector employment to rise by 65,000 jobs.

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