Hong Kong Bourse May Take Further Damage On Thursday

RTTNews | vor 644 Tagen
Hong Kong Bourse May Take Further Damage On Thursday

(RTTNews) - The Hong Kong stock market has moved lower in two straight sessions, tumbling almost 400 points or 2.3 percent along the way. The Hang Seng Index now sits just beneath the 18,450-point plateau and it's looking at another soft start on Thursday.

The global forecast for the Asian markets is soft on growth and inflation concerns. The European and U.S. markets were down and the Asian bourses are expected to open in similar fashion.

The Hang Seng finished barely lower on Wednesday as losses from the technology stocks were mitigated by support from the financials and properties.

For the day, the index dipped 6.93 points or 0.04 percent to finish at 18,449.98 after trading between 18,256.10 and 18,492.59.

Among the actives, Alibaba Group eased 0.11 percent, while Alibaba Health Info tumbled 1.28 percent, ANTA Sports skidded 0.50 percent, China Life Insurance collected 0.32 percent, China Mengniu Dairy lost 0.19 percent, China Resources Land slumped 0.58 percent, CITIC retreated 0.64 percent, CNOOC soared 2.19 percent, Country Garden surged 5.85 percent, CSPC Pharmaceutical sank 0.34 percent, Galaxy Entertainment dropped 0.49 percent, Hang Lung Properties climbed 0.95 percent, Henderson Land spiked 1.66 percent, Hong Kong & China Gas fell 0.17 percent, Industrial and Commercial Bank of China jumped 1.63 percent, JD.com added 0.30 percent, Lenovo plummeted 3.36 percent, Li Ning declined 1.04 percent, Meituan shed 0.23 percent, New World Development advanced 0.83 percent, Techtronic Industries plunged 2.72 percent, Xiaomi Corporation rallied 1.38 percent, WuXi Biologics tanked 2.06 percent and Haier Smart Home was unchanged.

The lead from Wall Street is negative as the major averages opened lower and remained under water throughout the trading day.

The Dow dropped 198.78 points or 0.57 percent to finish at 34,443.19, while the NASDAQ sank 148.48 points or 1.06 percent to end at 13,872.47 and the S&P 500 lost 31.35 points or 0.70 percent to close at 4,465.48.

The continued weakness on Wall Street reflected ongoing concerns about the outlook for the global economy and inflation concerns.

Stocks saw further downside following a report from the Institute for Supply Management showing an unexpected acceleration in the pace of U.S. service sector growth in August - sending treasury yields higher.

In other U.S. economic news, the Commerce Department released a report showing the U.S. trade deficit widened in the month of July.

Crude oil prices extended recent gains and moved higher on Wednesday, lifting the futures contract to a fresh nine-month closing high - fueled by the decision by Russia and Saudi Arabia to extend production cuts. West Texas Intermediate crude oil futures for October ended higher by $0.85 or 1 percent at $87.54 a barrel.

read more
Swiss Market Fails To Hold Early Gains, Settle Modestly Lower

Swiss Market Fails To Hold Early Gains, Settle Modestly Lower

The Switzerland market ended modestly lower on Wednesday despite spending much of the day's trading session in positive territory. Although the market gained some ground in positive territory, reacting to news about U.S. and Chinese officials reaching a framework to implement the Geneva consensus following two days of discussions in London, the mood turned cautious later on in the session.
RTTNews | vor 4Std 3 Minuten
European Stocks Pare Early Gains, Close Mostly Lower

European Stocks Pare Early Gains, Close Mostly Lower

Despite U.S. and Chinese officials announcing an agreement in principle on a framework to ease trade disputes, European stocks failed to hold early gains and closed mostly lower on Wednesday, with the mood turning cautious as the plan is subject to approval by the presidents of the two nations.
RTTNews | vor 4Std 22 Minuten
ECB Indicator Shows Eurozone Wage Growth To Slow Sharply To 3.1% This Year

ECB Indicator Shows Eurozone Wage Growth To Slow Sharply To 3.1% This Year

A measure, based on the collective bargaining agreements in the euro area, suggested that negotiated wage growth is set to ease significantly this year, the European Central Bank said on Wednesday, which adds to expectations of inflation staying near the 2 percent target.
RTTNews | vor 7Std 19 Minuten
U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

A closely watched report released by the Labor Department on Wednesday showed a slight increase by consumer prices in the U.S. in the month of May. The Labor Department said its consumer price index inched up by 0.1 percent in May after rising by 0.2 percent in April. Economists had expected another 0.2 percent increase.
RTTNews | vor 8Std 29 Minuten
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

It's likely to be a mixed start for Canadian shares on Wednesday with investors reacting to the crucial U.S. consumer price inflation data, and the developments on the trade front where U.S. and Chinese official reached a framework to implement the Geneva consensus following two days of discussions in London.
RTTNews | vor 9Std 17 Minuten