Bargain Hunting May Boost Hong Kong Shares

RTTNews | 1 gün önce
Bargain Hunting May Boost Hong Kong Shares

(RTTNews) - The Hong Kong stock market has moved lower in four straight sessions, slumping more than 1,120 points or 5.6 percent along the way. The Hang Seng Index now sits just beneath the 19,825-point plateau and it may halt its slide on Thursday.

The global forecast for the Asian markets is murky on a mixed outlook for interest rates. The European and U.S. markets were mixed and little changed and the Asian bourses are expected to follow that lead.

The Hang Seng finished slightly lower on Wednesday following losses from the properties and mixed performances from the financials and technology stocks.

For the day, the index shed 23.43 points or 0.12 percent to finish at 19,823.45 after trading between 19,608.32 and 19,840.28.

Among the actives, ANTA Sports skidded 1.36 percent, while China Life Insurance climbed 1.28 percent, China Mengniu Dairy retreated 1.70 percent, China Resources Land slid 0.20 percent, CITIC dropped 0.55 percent, CNOOC gained 0.47 percent, CSPC Pharmaceutical declined 1.69 percent, Galaxy Entertainment stumbled 1.44 percent, Haier Smart Home jumped 1.65 percent, Hang Lung Properties sank 0.46 percent, Henderson Land tanked 2.37 percent, Hong Kong & China Gas lost 0.33 percent, Industrial and Commercial Bank of China shed 0.43 percent, JD.com slumped 1.60 percent, Lenovo spiked 2.43 percent, Li Auto tumbled 1.94 percent, Li Ning strengthened 1.33 percent, Meituan dipped 0.17 percent, New World Development plunged 2.48 percent, Nongfu Spring added 0.48 percent, Techtronic Industries fell 0.28 percent, Xiaomi Corporation rallied 1.58 percent, WuXi Biologics plummeted 3.37 percent and Alibaba Group and Alibaba Health Info were unchanged.

The lead from Wall Street offers little clarity as the major averages opened slightly higher on Wednesday but quickly faded and wound up mixed and little changed.

The Dow added 47.21 points or 0.11 percent to finish at 43,958.19, while the NASDAQ sank 50.66 points or 0.26 percent to close at 19,230.74 and the S&P 500 perked 1.39 points or 0.02 percent to end at 5,985.38.

The choppy trading on Wall Street came following the release of closely watched consumer price inflation data that came in line with estimates.

While the data increased confidence that the Federal Reserve will continue lowering interest rates next month, inflation remaining somewhat sticky led to uncertainty about the likelihood of future rate cuts.

CME Group's FedWatch Tool is currently indicating an 82.3 percent chance of another quarter point rate cut in December but a 60.2 percent chance rates will then be left unchanged in January.

Oil prices climbed higher on Wednesday thanks to short covering after recent sharp losses, while a firm dollar also weighed. West Texas Intermediate crude oil futures for December closed up $0.31 or 0.46 percent at $68.43 a barrel.

read more
Powell Says Fed Doesn't Need To Be In A Hurry To Lower Rates

Powell Says Fed Doesn't Need To Be In A Hurry To Lower Rates

Following the Federal Reserve's decision to lower interest rates by a quarter point last week, Fed Chair Jerome Powell said in remarks on Thursday that the central bank does not "need to be in a hurry to lower rates" due to the strength of the economy.
RTTNews | 6s 43 dakika önce
Canadian Market Up Firmly In Positive Territory

Canadian Market Up Firmly In Positive Territory

The Canadian market is modestly higher Thursday afternoon with energy stocks turning in a fine performance. Utilities, consumer staples and materials shares are among the other prominent gainers.
RTTNews | 7s 14 dakika önce
Swiss Market Ends On Firm Note

Swiss Market Ends On Firm Note

After languishing in negative territory till noon, Swiss stocks moved higher on Thursday and ended the session on a firm note, in line with markets across Europe.
RTTNews | 8s 22 dakika önce
European Stocks Close Higher On Strong GDP Data, Earnings

European Stocks Close Higher On Strong GDP Data, Earnings

European stocks closed higher on Thursday, recovering from recent losses, as investors assessed the most recent global economic data, including U.S. inflation and euro area GDP reports, and reacted to a slew of quarterly earnings and other corporate news.
RTTNews | 8s 44 dakika önce
U.S. Jobless Claims Unexpectedly Dip To Nearly Six-Month Low

U.S. Jobless Claims Unexpectedly Dip To Nearly Six-Month Low

First-time claims for U.S. unemployment benefits unexpectedly edged lower in the week ended November 9th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims slipped to 217,000, a decrease of 4,000 from the previous week's unrevised level of 221,000. Economists had expected jobless claims to inch up to 223,000.
RTTNews | 12s 25 dakika önce
U.S. Producer Prices Rise 0.2% In October, In Line With Estimates

U.S. Producer Prices Rise 0.2% In October, In Line With Estimates

After yesterday's consumer price inflation data matched expectations, the Labor Department released a separate report on Thursday showing producer prices in the U.S. also increased in line with economist estimates in the month of October. The Labor Department said its producer price index for final demand rose by 0.2 percent in October following a revised 0.1 percent uptick in September.
RTTNews | 12s 30 dakika önce
U.S. Producer Prices Increase In Line With Estimates In October

U.S. Producer Prices Increase In Line With Estimates In October

After yesterday's consumer price inflation data matched expectations, the Labor Department released a separate report on Thursday showing producer prices in the U.S. also increased in line with economist estimates in the month of October.
RTTNews | 13s 25 dakika önce