Lower Open Anticipated For Hong Kong Stock Market

RTTNews | 939 วันที่ผ่านมา
Lower Open Anticipated For Hong Kong Stock Market

(RTTNews) - The Hong Kong stock market has finished higher in consecutive trading days, collecting almost 210 points or 1.1 percent along the way. The Hang Seng Index now sits just beneath the 19,675-point plateau although it's likely to see renewed selling pressure on Thursday.

The global forecast for the Asian markets is soft on renewed concerns over the outlook for interest rates. The European and U.S. markets were down and the Asian bourses figure to open in similar fashion.

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

For the day, the index added 77.25 points or 0.39 percent to finish at 19,673.45 after trading between 19,528.71 and 19,859.75.

Among the actives, Alibaba Group improved 1.30 percent, while Alibaba Health Info plummeted 7.09 points, ANTA Sports strengthened 1.46 percent, China Life Insurance lost 0.66 percent, China Mengniu Dairy climbed 1.44 percent, China Resources Land dipped 0.15 percent, CITIC advanced 1.02 percent, CNOOC added 0.60 percent, Country Garden plunged 6.14 percent, CSPC Pharmaceutical skyrocketed 6.46 percent, Galaxy Entertainment fell 0.19 percent, Hang Lung Properties sank 0.80 percent, Henderson Land tanked 3.31 percent, Hong Kong & China Gas spiked 2.75 percent, Lenovo rallied 2.25 percent, Li Ning soared 4.04 percent, Longfor slumped 0.97 percent, Meituan jumped 2.12 percent, New World Development dropped 0.89 percent, Techtronic Industries surged 4.56 percent, Xiaomi Corporation gained 0.36 percent, WuXi Biologics retreated 1.07 percent and China Petroleum and Chemical (Sinopec), Industrial and Commercial Bank of China and JD.com were unchanged.

The lead from Wall Street ends up negative as the major averages opened higher on Wednesday and stayed that way before tumbling after the Federal Reserve's monetary policy announcement.

The Dow dropped 142.29 points or 0.42 percent to finish at 33,966.35, while the NASDAQ sank 85.93 points or 0.76 percent to close at 11,170.89 and the S&P 500 lost 24.33 points or 0.61 percent to end at 3,995.32.

The lower close on Wall Street came after the Fed announced its widely expected decision to slow the pace of interest rate increases but still signaled further rate hikes ahead.

After raising interest rates by 75 basis points at four consecutive meetings, the Fed announced its decision to raise interest rates by 50 basis points to a target range of 4.25 to 4.50 percent.

But the central bank reiterated that it anticipates ongoing increases in rates will be appropriate. The economic projections provided along with the announcement now suggest the Fed expects rates to be raised higher than forecast in September.

Crude oil prices climbed higher on Wednesday, lifted by an upward revision in demand forecast by the International Energy Agency due to the shutdown of the Keystone pipeline following a massive leak. West Texas Intermediate Crude oil futures for January ended higher by $1.89 or 2.5 percent at $77.28 a barrel.

Closer to home, The Hong Kong Monetary Authority will wrap up its monetary policy meeting later today and then announce its decision on interest rates. The current benchmark lending rate is 4.25 percent.

read more
NZ Dollar Advances Against Most Majors

NZ Dollar Advances Against Most Majors

The New Zealand dollar strengthened against most major currencies in the Asian session on Friday.
RTTNews | 29 นาทีที่ผ่านมา
Australian Dollar Rises Against Majors

Australian Dollar Rises Against Majors

The Australian dollar strengthened against other major currencies in the Asian session on Friday.
RTTNews | 32 นาทีที่ผ่านมา
European Shares Seen Lower Amid Trump Tariff Jitters

European Shares Seen Lower Amid Trump Tariff Jitters

European stocks are seen opening broadly lower on Friday as U.S. President Donald Trump amped up trade threats, fueling uncertainties around the inflation and growth outlook.
RTTNews | 1 ชม. 41 นาทีที่ผ่านมา
European Economic News Preview: UK GDP, Foreign Trade Data Due

European Economic News Preview: UK GDP, Foreign Trade Data Due

Monthly GDP and foreign trade from the UK and final inflation from France are due on Friday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial production and foreign trade data. Economists forecast the economy to grow 0.1 percent on a monthly basis in May, in contrast to the 0.3 percent fall in April.
RTTNews | 2 ชม. 21 นาทีที่ผ่านมา
Australian Market Slips To Modest Losses In Mid-market

Australian Market Slips To Modest Losses In Mid-market

The Australian stock market is slipping to modest losses in mid-market moves on Friday after opening in the green, reversing some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 8,600 level, with weakness in gold miner and energy stocks partially offset by gains in iron ore miner stocks.
RTTNews | 3 ชม. 56 นาทีที่ผ่านมา
Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, as traders hope for an end to the tariff uncertainty after US President Donald Trump confirmed he will not extend the August 1 deadline for striking trade deals, though he continues to threaten higher reciprocal tariffs on various sectors and countries.
RTTNews | 4 ชม. 3 นาทีที่ผ่านมา
Sensex, Nifty Set To Drift Lower As Tariff Worries Intensify

Sensex, Nifty Set To Drift Lower As Tariff Worries Intensify

Indian shares look set to open on a sluggish note Friday as U.S. President Donald Trump pushes through with his tariff agenda, fueling uncertainties around the global tariff war.
RTTNews | 4 ชม. 50 นาทีที่ผ่านมา