Overbought Hang Seng Has Positive Lead For Monday's Trade

RTTNews | 505 gün önce
Overbought Hang Seng Has Positive Lead For Monday's Trade

(RTTNews) - The Hong Kong stock market has moved higher in nine straight sessions, gathering more than 2,270 points or 13.3 percent along the way. The Hang Seng Index now sits just above the 18,475-point plateau and it's nonetheless tipped to open higher again on Monday.

The global forecast for the Asian markets is positive on an improved outlook for interest rates. The European and U.S. bourses finished solidly higher and the Asian markets are expected to open in similar fashion.

The Hang Seng finished sharply higher on Friday with gains across the board, especially among the financial, technology and property sectors.

For the day, the index rallied 268.82 points or 1.48 percent to finish at 18,475.92 after trading between 18,362.22 and 18,604.17.

Among the actives, Alibaba Group surged 4.07 percent, while ANTA Sports rallied 2.86 percent, China Life Insurance soared 3.70 percent, China Mengniu Dairy sank 0.59 percent, China Resources Land and Hong Kong & China Gas both climbed 1.51 percent, CITIC added 0.66 percent, CNOOC and Meituan both gathered 0.50 percent, Country Garden strengthened 1.84 percent, CSPC Pharmaceutical increased 0.75 percent, Galaxy Entertainment spiked 3.59 percent, Hang Lung Properties rose 0.56 percent, Henderson Land gained 0.62 percent, Industrial and Commercial Bank of China collected 1.18 percent, JD.com skyrocketed 5.48 percent, Lenovo advanced 0.88 percent, Li Ning improved 1.39 percent, New World Development jumped 2.85 percent, Techtronic Industries eased 0.09 percent, Xiaomi Corporation accelerated 3.06 percent, WuXi Biologics plummeted 4.12 percent and Alibaba Health Info and CK Infrastructure were unchanged.

The lead from Wall Street is strong as the major averages opened sharply higher on Friday and remained in the green throughout the session.

The Dow surged 449.98 points or 1.18 percent to finish at 38,675.68, while the NASDAQ rallied 315.33 points or 1.99 percent to close at 16,156.33 and the S&P 500 advanced 63.59 points or 1.26 percent to end at 5,127.79. For the week, the S&P 500 climbed 0.6 percent, the Dow added 1.1 percent and the NASDAQ jumped 1.4 percent.

The rally on Wall Street followed the release of a closely watched Labor Department showing employment in the U.S. increased less than expected in April. The data helped generate optimism about the outlook for interest rates following the Federal Reserve's monetary policy meeting earlier in the week.

Also, a separate report released by the Institute for Supply Management showed U.S. service sector activity unexpectedly contracted in April.

Oil prices fell on Friday, pushing the most active futures contract to their biggest weekly decline in about three months on concerns about the outlook for global oil demand. West Texas Intermediate Crude oil futures for June ended down by $0.84 or 1.06 percent at $78.11 a barrel.

read more
FTSE 100 Flat; Kingfisher Soars On Higher Guidance

FTSE 100 Flat; Kingfisher Soars On Higher Guidance

U.K. stocks are turning in a mixed performance on Tuesday with investors digesting the flash data showing weak manufacturing and services sector activity in the month of September.
RTTNews | 54 dakika önce
Eurozone Private Sector Logs Strongest Growth In 16 Months

Eurozone Private Sector Logs Strongest Growth In 16 Months

The euro area private sector expanded the most in 16 months in September driven by the acceleration in services activity growth, flash survey results published by S&P Global revealed on Tuesday. At 51.2, the HCOB composite output index climbed slightly from August's 51.0 and was above forecast of 51.1. The index posted above the 50.0 no-change mark for the ninth straight month in September.
RTTNews | 1s 3 dakika önce
CAC 40 Up 0.6%; STMicroElectronics Rises Sharply

CAC 40 Up 0.6%; STMicroElectronics Rises Sharply

Despite data showing a contraction in France's private sector activity in the month of September, French stocks are up firmly in positive territory Tuesday afternoon with data showing an acceleration in Eurozone private sector growth, and NVIDIA's plans to invest $100 billion in OpenAI aiding sentiment.
RTTNews | 1s 20 dakika önce
Sensex, Nifty Recover From Early Lows

Sensex, Nifty Recover From Early Lows

Indian shares cut early losses to end on a flat note on Tuesday. While a weakening rupee, tariff worries and concerns regarding the latest H1-B visa fee change weighed on markets, Fed rate cut hopes, falling oil prices and reports of strong festive-season demand for automobiles helped limit overall losses in the broader market.
RTTNews | 1s 39 dakika önce
DAX Modestly Higher Despite Paring Some Early Gains

DAX Modestly Higher Despite Paring Some Early Gains

German stocks hold on in positive territory Tuesday afternoon despite paring some early gains. Data showing an acceleration in Germany's private sector activity in the month of September, and an increase in Eurozone service sector growth help underpin sentiment.
RTTNews | 1s 42 dakika önce
Walmart To Kick Off Holiday Season With Early Deals On Oct. 7-12

Walmart To Kick Off Holiday Season With Early Deals On Oct. 7-12

In preparation for the upcoming holiday season, retail behemoth Walmart, Inc. is bringing tens of thousands of deals with early savings, starting October 7 through 12. While membership is not required for the first deals event of the season, Walmart+ members will get exclusive early access on October 6 at 7 p.m. ET, and shoppers can enjoy fast delivery and in-store convenience all week long.
RTTNews | 2s 46 dakika önce
Asian Shares Mixed In Cautious Trade

Asian Shares Mixed In Cautious Trade

Asian stocks ended mixed on Tuesday, with Japanese markets closed for a public holiday and Hong Kong preparing for Typhoon Ragasa, which is expected to pass the city in the next 24 hours.
RTTNews | 3s 27 dakika önce