Hong Kong Shares May Take Further Damage On Friday

RTTNews | Před 9 h 6 min
Hong Kong Shares May Take Further Damage On Friday

(RTTNews) - The Hong Kong stock market has moved lower in two straight sessions, retreating more than 380 points or 1.8 percent along the way. The Hang Seng Index now sits just beneath the 20,320-point plateau and it's expected to open in the red again on Friday.

The global forecast for the Asian markets is broadly negative, with pressure likely among technology stocks amid waning optimism over the outlook for interest rates. The European and U.S. markets finished firmly in the red and the Asian bourses are expected to follow suit.

The Hang Seng finished modestly lower on Thursday following losses from the property stocks and technology companies.

For the day, the index lost 63.31 points or 0.31 percent to finish at the daily low of 20,317.33 after peaking at 20,553.30.

Among the actives, Alibaba Group tumbled 1.36 percent, while Alibaba Health Info fell 0.51 percent, ANTA Sports dropped 0.96 percent, China Life Insurance gained 0.86 percent, China Mengniu Dairy surged 3.45 percent, China Resources Land soared 2.78 percent, CITIC rose 0.11 percent, CNOOC advanced 0.89 percent, CSPC Pharmaceutical plummeted 3.04 percent, Galaxy Entertainment skidded 1.00 percent, Haier Smart Home tanked 2.42 percent, Hang Lung Properties was down 0.15 percent, Henderson Land and CLP Holdings both lost 0.60 percent, Hong Kong & China Gas retreated 1.31 percent, Industrial and Commercial Bank of China collected 0.87 percent, JD.com slid 0.26 percent, Lenovo surrendered 1.90 percent, Li Auto slumped 1.10 percent, Li Ning dipped 0.25 percent, Meituan declined 1.19 percent, New World Development plunged 2.98 percent, Nongfu Spring shed 0.86 percent, Techtronic Industries sank 0.88 percent, Xiaomi Corporation rallied 2.69 percent and WuXi Biologics eased 0.12 percent.

The lead from Wall Street is bleak as the major averages opened solidly under water and stayed that way throughout the trading day.

The Dow tumbled 378.08 points or 0.90 percent to finish at 41,763.46, while the NASDAQ plummeted 512.78 points or 2.76 percent to close at 18,095.15 and the S&P 500 slumped 108.22 points or 1.86 percent to end at 5,705.45.

The sell-off on Wall Street came amid a negative reaction to earnings news from tech giants Microsoft (MSFT) and Meta Platforms (META).

Traders were also reacting to closely watched consumer price inflation data that largely came in line with economist estimates, although core CPI resisted lower forecasts to remain unchanged. That added to recent concerns the Federal Reserve will lower interest rates more slowly than hoped.

Oil prices climbed higher on Thursday amid expectations of increased demand from the U.S. and a likely delay in OPEC's planned output increase from December. West Texas Intermediate Crude oil futures for December ended higher by $0.65 or 0.95 percent at $69.26 a barrel.

Closer to home, Hong Kong will provide September figures for retail sales later today; in August, sales dropped 10.1 percent on year.

read more
NZ Dollar Rises As China Manufacturing Activity Returns To Growth

NZ Dollar Rises As China Manufacturing Activity Returns To Growth

The New Zealand dollar strengthened against other major currencies in the Asian session on Friday, after China's manufacturing activity returned to growth in October as companies ramped up production and purchasing to meet higher demand amid improving confidence.
RTTNews | Před 4 h 37 min
NZ Dollar Rises Against Majors

NZ Dollar Rises Against Majors

The New Zealand dollar strengthened against other major currencies in the Asian session on Friday.
RTTNews | Před 4 h 55 min
European Economic News Preview: UK Factory PMI Data Due

European Economic News Preview: UK Factory PMI Data Due

Factory Purchasing Managers' survey results and house prices from the UK are due on Friday, headlining a light day for the European economic news. At 3.00 am ET, the UK Nationwide house price data is due. House prices are forecast to grow 2.8 percent annually in October after rising 3.2 percent in September.
RTTNews | Před 5 h 11 min
China Manufacturing Activity Returns To Growth

China Manufacturing Activity Returns To Growth

China's manufacturing activity returned to growth in October as companies ramped up production and purchasing to meet higher demand amid improving confidence, survey results from S&P Global showed on Friday. The Caixin manufacturing Purchasing Managers' Index rose to 50.3 in October from 49.3 in September. A reading above the neutral mark of 50.0 indicates expansion.
RTTNews | Před 5 h 54 min
Asian Markets Mixed Amid Cautious Trades

Asian Markets Mixed Amid Cautious Trades

Asian stock markets are trading mixed on Friday, following the broadly negative cues from global markets overnight, as traders remain cautious and seemed reluctant to make significant moves ahead of the highly anticipated US monthly jobs report later in the day as well as next week's US presidential election. The uncertainty about the outlook for interest rate cuts weighed on market sentiment.
RTTNews | Před 7 h 4 min
Indian Markets Closed For Diwali

Indian Markets Closed For Diwali

Indian markets remain closed today on account of Diwali. However, there will be a special one-hour Muhurat trading session between 6.00 pm and 7.00 pm.
RTTNews | Před 7 h 45 min
Japanese Market Sharply Lower; Down 2%

Japanese Market Sharply Lower; Down 2%

Extending the losses in the previous session, the Japanese stock market is sharply lower on Friday, following the negative cues from global markets overnight. The benchmark Nikkei 225 is falling more than 2 percent to just above the 38,200 level, with weakness across most sectors led by index heavyweights and technology stocks after the BoJ kept rates steady and warned of high uncertainties.
RTTNews | Před 8 h 0 min