Hong Kong Stock Market May Open Under Pressure On Wednesday

RTTNews | 61 hari yang lalu
Hong Kong Stock Market May Open Under Pressure On Wednesday

(RTTNews) - The Hong Kong stock market on Tuesday wrote a finish to the two-day winning streak in which it had rallied more than 850 points or 4.2 percent. The Hang Seng Index now sits just above the 20,310-point plateau and it's looking at another soft start again on Wednesday.

The global forecast for the Asian markets is negative, with weakness expected from the computer, semiconductor and housing sectors. The European and U.S. markets were down and the Asian bourses are expected to follow that lead.

The Hang Seng finished modestly lower on Tuesday following losses from the oil and insurance companies and mixed performance from the technology and property sectors.

For the day, the index slumped 102.81 points or 0.50 percent to finish at 20,311.28 after trading between 20,308.86 and 21,070.05.

Among the actives, Alibaba Group shed 0.35 percent, while Alibaba Health Info retreated 1.83 percent, ANTA Sports sank 0.90 percent, China Life Insurance plunged 3.21 percent, China Resources Land tumbled 2.23 percent, CITIC skidded 1.41 percent, CNOOC slumped 1.66 percent, CSPC Pharmaceutical declined 1.75 percent, Galaxy Entertainment added 0.55 percent, Haier Smart Home dropped 1.22 percent, Hang Lung Properties gathered 0.15 percent, Henderson Land fell 0.20 percent, Hong Kong & China Gas increased 0.50 percent, JD.com improved 0.72 percent, Lenovo advanced 0.85 percent, Li Auto stumbled 2.01 percent, Li Ning rose 0.34 percent, Meituan perked 0.06 percent, New World Development gained 0.45 percent, Nongfu Spring tanked 2.71 percent, Techtronic Industries lost 0.26 percent, WuXi Biologics plummeted 3.89 percent and China Mengniu Dairy, Industrial and Commercial Bank of China and Xiaomi Corporation were unchanged.

The lead from Wall Street is soft as the major averages opened flat on Tuesday and hugged the line for most of the session before sinking firmly into the red late in the day.

The Dow dropped 154.10 points or 0.35 percent to finish at 44,247.83, while the NASDAQ sank 49.45 points or 0.25 percent to close at 19,687.24 and the S&P 500 fell 17.94 points or 0.30 percent to end at 6,034.91.

The weakness that emerged on Wall Street came as traders continued to cash in on recent strength in the markets ahead of the release of the Labor Department's closely watched report on consumer price inflation later today.

While the Federal Reserve is widely expected to lower rates by another 25 basis points next week, the data could impact the outlook for future rate cuts by the central bank.

CME Group's FedWatch Tool is currently indicating an 86.1 percent chance the Fed will lower rates by a quarter point next week but a 69.1 percent chance the central bank will then leave rates unchanged in late January.

Oil futures settled higher on Tuesday amid hopes that demand from China will increase following recent stimulus measures announced by the Chinese government. West Texas Intermediate Crude oil futures for January closed up $0.22 or 0.32 percent at $68.59 a barrel.

read more
Yen Drops Against Majors

Yen Drops Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Monday.
RTTNews | 5j 28min yang lalu
DAX Modestly Higher In Cautious Trade

DAX Modestly Higher In Cautious Trade

German stocks are modestly higher in cautious trade Monday morning with investors assessing the potential impact of fresh tariff announcements from U.S. President Donald Trump, in addition to tracking corporate earnings updates.
RTTNews | 5j 46min yang lalu
European Shares Edge Higher On Rate Cut Hopes

European Shares Edge Higher On Rate Cut Hopes

European shares edged higher on Monday despite U.S. President Donald Trump's warning to impose tariffs on all steel and aluminum imports into the United States, and a pledge to impose other reciprocal tariffs on Tuesday or Wednesday.
RTTNews | 6j 9min yang lalu
Asian Shares Mixed On Tariff Worries; Chinese Tech Stocks Surge

Asian Shares Mixed On Tariff Worries; Chinese Tech Stocks Surge

Asian stocks ended mixed on Monday following U.S. President Donald Trump's pledge to impose tariffs on all imports of steel and aluminum, and introduce reciprocal tariffs on many countries this week in another major escalation of his trade policy overhaul. Investors also looked ahead to Federal Reserve Chair Jerome Powell's upcoming semi-annual congressional testimony to judge the costs of tariffs and other policy shifts on easing plans.
RTTNews | 6j 38min yang lalu
UK Job Vacancies Decline Most Since 2020: REC/KPMG Report

UK Job Vacancies Decline Most Since 2020: REC/KPMG Report

UK job vacancies decreased the most since August 2020 as higher cost of employing staff due to the changes in government policies weighed on hiring activity, a report compiled by S&P Global showed on Monday. Demand for staff decreased in January at the sharpest pace since August 2020. Vacancy numbers fell especially sharply for permanent worker, the KPMG/REC Report on Jobs survey revealed.
RTTNews | 7j 20min yang lalu
U.S. Dollar Rises Amid Escalating Trade War Tensions

U.S. Dollar Rises Amid Escalating Trade War Tensions

The U.S. dollar strengthened against other major currencies in the Asian session on Monday, amid concerns over China-U.S. trade tensions, and potential new tariffs on imports from Canada, Mexico and the European Union. U.S. President Donald Trump said he will announce 25 percent tariffs on all imports of steel and aluminum.
RTTNews | 8j 44min yang lalu