Profit Taking May Dent Hong Kong Stock Market

RTTNews | 271 gün önce

(RTTNews) - The Hong Kong stock market has moved higher in two straight sessions, advancing more than 450 points or 2.2 percent along the way. The Hang Seng Index now sits just above the 19,600-point plateau although it may run out of steam on Thursday.

The global forecast for the Asian markets suggests mild consolidation on renewed concerns over the outlook for interest rates. The European markets were mixed and the U.S. bourses were slightly soft and the Asian markets figure to follow the latter lead.

The Hang Seng finished sharply higher on Wednesday with gains across the board, especially among the technology companies.

For the day, the index surged 443.93 points or 2.32 percent to finish at 19,603.13 after trading between 19,061.60 and 19,660.99.

Among the actives, Alibaba Group improved 1.98 percent, while Alibaba Health Info advanced 2.22 percent, ANTA Sports added 1.56 percent, China Life Insurance and Haier Smart Home both soared 3.64 percent, China Mengniu Dairy rallied 2.87 percent, China Resources Land accelerated 2.65 percent, CITIC jumped 2.78 percent, CNOOC gained 0.82 percent, CSPC Pharmaceutical climbed 2.57 percent, Galaxy Entertainment strengthened 2.60 percent, Hang Lung Properties spiked 1.95 percent, Henderson Land increased 1.86 percent, Hong Kong & China Gas rose 0.17 percent, Industrial and Commercial Bank of China collected 1.09 percent, JD.com soared 5.01 percent, Lenovo jumped 3.39 percent, Li Auto climbed 2.55 percent, Li Ning spiked 4.15 percent, Meituan skyrocketed 7.24 percent, New World Development advanced 2.53 percent, Nongfu Spring strengthened 2.68 percent, Techtronic Industries surged 5.11 percent, Xiaomi Corporation rallied 4.04 percent and WuXi Biologics accelerated 3.50 percent.

The lead from Wall Street is soft as the major averages opened mixed on Wednesday but all trended lower as the day progressed and ended in the red.

The Dow dropped 138.25 points or 0.31 percent to finish at 44,722.06, while the NASDAQ slumped 115.10 points or 0.60 percent to close at 19,060.48 and the S&P 500 sank 22.89 points or 0.38 percent to end at 5,998.74.

The pullback by the NASDAQ was fueled by substantial weakness among computer hardware stocks, led lower by PC makers Dell Technologies (DELL) and HP Inc. (HPQ) after providing disappointing earnings guidance.

Weakness among semiconductor and networking stocks also weighed on the NASDAQ, while biotechnology stocks showed a strong move to the upside.

The weakness in the broader markets came after the Commerce Department released closely watched inflation data that matched expectations. While the faster annual price growth was in line with estimates, the acceleration raised concerns about the outlook for interest rates.

Crude oil moved slightly lower on Wednesday as traders weighed news of a ceasefire between Israel and Hezbollah against data showing a bigger than expected drop by U.S. crude oil inventories. West Texas Intermediate for January delivery eased $0.05 or 0.1 percent to $68.72 a barrel.

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 49 dakika önce

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | 1s 17 dakika önce

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1s 19 dakika önce

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1s 35 dakika önce

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | 1s 37 dakika önce

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | 1s 50 dakika önce

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | 2s 19 dakika önce

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2s 49 dakika önce

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