Steady Start Eyed For Hong Kong Stock Market

RTTNews | 104 дней спустя
Steady Start Eyed For Hong Kong Stock Market

(RTTNews) - The Hong Kong stock market on Wednesday snaped the two-day losing streak in which it had tumbled almost 450 points or 2 percent. The Hang Seng Index now sits just beneath the 23,790-point plateau and it's tipped to open modestly to the upside again on Thursday.

The global forecast for the Asian markets is fairly upbeat, with bargain hunting expected among especially the technology stocks. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The Hang Seng finished sharply higher on Wednesday following gains from the financial shares, property stocks and technology companies.

For the day, the index surged 753.91 points or 3.27 percent to finish at 23,787.93 after trading between 23,238.34 and 23,973.17.

Among the actives, Alibaba Group strengthened 4.82 percent, while Alibaba Health Info sank 0.91 percent, ANTA Sports was up 1.00 percent, China Life Insurance climbed 4.06 percent, China Mengniu Dairy and Hang Lung Properties both advanced 3.72 percent, China Resources Land jumped 5.09 percent, CITIC added 2.99 percent, CNOOC tanked 1.22 percent, CSPC Pharmaceutical plummeted 4.17 percent, Galaxy Entertainment gathered 1.66 percent, Haier Smart Home improved 3.44 percent, Henderson Land gained 2.17 percent, Hong Kong & China Gas perked 1.31 percent, Industrial and Commercial Bank of China collected 1.27 percent, JD.com surged 8.45 percent, Lenovo slumped 1.09 percent, Li Auto soared 7.70 percent, Li Ning increased 3.12 percent, Meituan skyrocketed 9.84 percent, New World Development accelerated 6.46 percent, Nongfu Spring spiked 7.44 percent, Techtronic Industries eased 0.09 percent, Xiaomi Corporation rallied 5.83 percent and WuXi Biologics rose 1.71 percent.

The lead from Wall Street offers little clarity as the major averages hugged the line on Wednesday, finishing mixed and roughly flat as investors waited until after close for results from NVIDIA Corporation (NVDA).

The Dow stumbled 188.04 points or 0.43 percent to finish at 43,433.12, while the NASDAQ added 48.88 points or 0.26 percent to close at 19,075.26 and the S&P 500 perked 0.81 points or 0.01 percent to end at 5,956.06.

Wall Street saw some early bargain hunting following recent weakness in the markets, but mostly investors were waiting on the NVIDIA results.

After the bell, NVIDIA unveiled Q4 earnings that increased from last year, beat estimates slightly and provided positive guidance. That fueled choppy but not negative trade after hours.

In economic news, the Commerce Department released a report showing a substantial pullback by new home sales in the U.S. in January.

Crude oil prices drifted lower on Wednesday amid concerns about the outlook for demand as the Trump administration's tariff policies are expected to slow global economic growth. West Texas Intermediate Crude oil futures for April settled lower by $0.31 at $68.62 a barrel.

read more
Gold Dips As US-China Trade Talks Continue

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.
RTTNews | 1ч 55мин назад
Crude Oil Prices Fade As US-China Talks Progress

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.
RTTNews | 2ч 1мин назад
Canadian Dollar Appreciates Amid Risk Appetite

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.
RTTNews | 2ч 42мин назад
Swiss Market Ends Marginally Down

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.
RTTNews | 4ч 7мин назад
European Stocks Close On Mixed Note

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.
RTTNews | 4ч 23мин назад
TSX Up Marginally; Energy Stocks Rise

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.
RTTNews | 5ч 30мин назад
U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.
RTTNews | 6ч 6мин назад
Eurozone Investor Confidence Strongest In A Year: Sentix

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.
RTTNews | 9ч 1мин назад