Win Streak May End For Hong Kong Stock Market

RTTNews | 873 gün önce
Win Streak May End For Hong Kong Stock Market

(RTTNews) - The Hong Kong stock market has finished higher in back-to-back sessions, jumping more than 400 points or 2.1 percent along the way. The Hang Seng Index now rests just beneath the 20,150-point plateau although it's looking at a soft start for Wednesday's trade.

The global forecast for the Asian markets is mixed to lower thanks to rising recession fears. The European markets were up and the U.S. bourses were down and the Asian markets figure to split the difference.

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

For the day, the index surged 363.88 points or 1.84 percent to finish at 20,145.29 after trading between 19,303.73 and 20,212.55.

Among the actives, Alibaba Group strengthened 2.78 percent, while ANTA Sports improved 1.86 percent, China Life Insurance collected 1.94 percent, China Mengniu Dairy jumped 2.82 percent, China Resources Land rallied 2.38 percent, CITIC eased 0.12 percent, CNOOC and Meituan both rose 1.20 percent, Country Garden fell 0.31 percent, CSPC Pharmaceutical added 1.46 percent, Galaxy Entertainment soared 3.88 percent, Hang Lung Properties accelerated 3.28 percent, Henderson Land gained 1.28 percent, Hong Kong & China Gas increased 1.48 percent, Industrial and Commercial Bank of China collected 1.00 percent, JD.com advanced 2.09 percent, Lenovo improved 1.25 percent, Li Ning climbed 2.36 percent, New World Development spiked 3.41 percent, Techtronic Industries gained 1.44 percent, Xiaomi Corporation jumped 2.56 percent, WuXi Biologics surged 4.51 percent and Alibaba Health Info was unchanged.

The lead from Wall Street is soft as the major averages shook off early support on Tuesday, quickly turning lower and spending the rest of the day in the red.

The Dow shed 1088 points or 0.03 percent to finish at 33,136.37, while the NASDAQ lost 79.50 points or 0.76 percent to end at 10,386.98 and the S&P 500 fell 15.36 points or 0.40 percent to close at 3,824.14.

The early strength on Wall Street came as traders looked to get the New Year started on a positive note following a dismal 2022. For last year, the NASDAQ plummeted 33.1 percent, the S&P 500 lost 19.4 percent and the Dow sank 8.8 percent.

A report from the International Monetary Fund says about one third of the world economy will likely go into a recession this year. A rebound from treasuries also added to the negative sentiment.

A report released by the Commerce Department unexpectedly showed a modest increase in U.S. construction spending in the month of November.

Crude oil prices fell on Tuesday amid concerns about the outlook for energy demand due to rising fears of a recession. West Texas Intermediate Crude oil futures for February ended down $3.33 or 4.2 percent at $76.93 a barrel, a two-week low.

Closer to home, Hong Kong will see November numbers for retail sales later today; in October, sales were up 3.9 percent on year.

read more
Lower Open Called For Hong Kong Stock Market

Lower Open Called For Hong Kong Stock Market

The Hong Kong stock market bounced higher again on Friday, one day after snapping the two-day winning streak in which it had rallied almost 500 points or 2.2 percent. The Hang Seng Index now sits just above the 23,600-point plateau although it's tipped to open in the red on Monday.
RTTNews | 16 dakika önce
Australian Market Slightly Lower

Australian Market Slightly Lower

The Australian stock market is slightly lower in choppy trading on Monday, reversing some of the gains in the previous session, following the broadly negative cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is staying near the 8,350.00 level, with a mixed performance across most sectors. Gold miners were the only bright spot
RTTNews | 31 dakika önce
China Shares Likely To Open To The Downside Again On Monday

China Shares Likely To Open To The Downside Again On Monday

The China stock market has moved lower in two straight sessions, falling almost 40 points or 1.2 percent along the way. The Shanghai Composite Index now rests just beneath the 3,350-point plateau and it's looking at another soft start again on Monday.
RTTNews | 31 dakika önce
Taiwan Shares May See Further Damage Again On Monday

Taiwan Shares May See Further Damage Again On Monday

The Taiwan stock market has moved lower in back-to-back sessions, sinking more than 150 points or 0.7 percent along the way. The Taiwan Stock Exchange now sits just above the 21,650-point plateau and it may extend its losses on Monday.
RTTNews | 1s 1 dakika önce
Singapore Bourse Likely To Remain Rangebound

Singapore Bourse Likely To Remain Rangebound

The Singapore stock market ticked higher again on Friday, one day after ending the two-day winning streak in which it had risen just 6 points or 0.15 percent. The Straits Times Index now sits just above the 3,880-point plateau, although it may remain stuck in neutral on Monday.
RTTNews | 1s 31 dakika önce
Malaysia Stock Market May See Renewed Consolidation

Malaysia Stock Market May See Renewed Consolidation

The Malaysia stock market on Friday ended the six-day losing streak in which it had tumbled more than 55 points or 3.9 percent. The Kuala Lumpur Composite Index now sits just above the 1,535-point plateau although it's expected to open under pressure again on Monday.
RTTNews | 2s 1 dakika önce
Japan Shares May Head South Again On Monday

Japan Shares May Head South Again On Monday

The Japanese stock market on Friday snapped the two-day slide in which it had dropped almost 550 points or 1.5 percent. The Nikkei 225 now sits just above the 37,160-point plateau although it may hand back those gains on Monday.
RTTNews | 2s 16 dakika önce
South Korea Bourse May Extend Losing Streak

South Korea Bourse May Extend Losing Streak

The South Korea stock market has finished lower in back-to-back sessions, sinking almost 35 points or 1.4 percent along the way. The KOSPI now rests just above the 2,590-point plateau and it may take further damage on Monday.
RTTNews | 2s 31 dakika önce