logo
Hang Seng Index takes market cue to open stronger

Hang Seng Index takes market cue to open stronger

RTHK5 days ago
Hang Seng Index takes market cue to open stronger
The Hang Seng Index gained 258 points, or 1.06 percent, to open at 24,757. File photo: RTHK
Mainland China and Hong Kong stocks opened higher, lifted by the S&P 500 and Nasdaq finishing at fresh records.
The benchmark Hang Seng Index gained 258 points, or 1.06 percent, to open at 24,757.
On the mainland, the benchmark Shanghai Composite Index was up 0.08 percent at 3,519 while the Shenzhen Component Index opened 0.27 percent higher at 10,902.
Down Under, miners propelled Australian shares to an all-time high, driven by BHP Group's record quarterly copper production and higher iron ore prices, while upbeat US retail sales data for June further fuelled investor optimism.
The S&P/ASX 200 index rose 0.6 percent to scale a record peak of 8,693.
Investor sentiment was buoyed by data showing US retail sales beat expectations in June, signalling steady economic growth. (Agencies/Xinhua)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Nasdaq ends six-day streak of records
Nasdaq ends six-day streak of records

RTHK

time19 minutes ago

  • RTHK

Nasdaq ends six-day streak of records

Nasdaq ends six-day streak of records The S&P 500 inched to another record on Tuesday following some mixed profit reports, while the Nasdaq slipped 0.4 percent. Photo: Reuters The Nasdaq retreated from a record on Tuesday on a mixed day for stocks as markets looked ahead to upcoming earnings reports from Google parent Alphabet and Tesla. The two reports on Wednesday are the first of Wall Street's "Magnificent Seven" equities to report this season. The group was mixed, with drops in Nvidia and other semiconductor equities consistent with profit taking after earlier gains, analysts said. The Nasdaq fell 0.4 percent to 20,892, snapping a six-day streak of record high finishes. But the S&P 500 edged up 0.1 percent to 6,309, finishing at a record, while the Dow Jones climbed 0.4 percent to 44,502. Art Hogan of B Riley Wealth Management described the market as in a "wait and see" mode ahead of earnings from the most influential equities. Stocks are priced for perfection, Hogan added. "It's a difficult earnings season where expectations are really low but stocks are already priced very high," he said. Among individual companies, General Motors dropped 8.1 percent despite reporting better than expected quarterly earnings. While the automaker confirmed its full-year forecast, it said profitability in the second half of 2025 would lag the first part of the year, in part due to the increased impact of tariffs. Lockheed Martin was another big loser, shedding 10.8 percent after its results were dented by around US$1.7 billion in one-time costs. But DR Horton surged 17 percent after the homebuilder's results topped estimates. said the homebuilder's earnings outperformed competition, establishing it as "a potential leader in navigating the challenging housing market." (AFP)

Hang Seng Index pushes up near four-year-high
Hang Seng Index pushes up near four-year-high

RTHK

time13 hours ago

  • RTHK

Hang Seng Index pushes up near four-year-high

Hang Seng Index pushes up near four-year-high The Hang Seng Index ended Tuesday up 135.89 points, or 0.54 percent, at 25,130.03. File photo: RTHK Mainland China stocks closed at an eight-month high on Tuesday, while Hong Kong shares extended gains to a multi-year peak, driven by construction and power firms after work began on a major dam project in Tibet, billed as the world's largest. The Hang Seng Index rose to 25,130, the highest since November 2021, on gains of 135.89 points or 0.54 percent. The Hang Seng China Enterprises Index rose 0.39 percent to end at 9,075.60 while the Hang Seng Tech Index climbed 0.38 percent to 5,606.83. On the mainland, the benchmark Shanghai Composite Index ended up 0.62 percent at 3,581.86 while the Shenzhen Component Index closed 0.84 percent higher at 11,099.83. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 0.61 percent to close at 2,310.86. China's blue-chip CSI300 Index ended 0.8 percent higher, touching its strongest point since November. Some construction and power stocks extended rallies after China announced over the weekend the start of construction on a US$170 billion hydropower dam in Tibet. Shanghai-listed Anhui Conch Cement and Power Construction of China both hit the daily maximum of 10 percent. "Investors usually don't care much about the real economy in such a bull market, especially with the rise of their confidence in Beijing's capability in handling any economic cracks," said Ting Lu, chief China economist at Nomura. Easing Sino-US tensions, Beijing's push for long-term funds to invest in stocks and renewed confidence in the country's manufacturing sector lifted sentiment, Lu noted. "However, if stock markets lose steam, investors might shift more attention to the real economy, which will likely face some challenges in the second half of this year," Lu said. US Treasury Secretary Scott Bessent said on Monday that Washington and Beijing would hold talks "in the very near future," with discussions potentially covering China's purchases of Iranian and Russian oil. (Reuters/Xinhua)

Book fair vendors have final shot at boosting sales
Book fair vendors have final shot at boosting sales

RTHK

time15 hours ago

  • RTHK

Book fair vendors have final shot at boosting sales

Book fair vendors have final shot at boosting sales Exhibitors at the book fair offer discounts and special promotions to boost sales. Photo: RTHK Many booklovers flocked to the fair to find bargains. Photo: RTHK Exhibitors at the Hong Kong Book Fair made a last-ditch effort to boost sales on Tuesday, offering additional discounts and promotions on the final day of the annual event. The fair, held alongside the World of Snacks fair and the Sports and Leisure Expo at the Convention and Exhibition Centre, didn't open on Sunday when Typhoon Wipha skirted past the city. Alva Au, director of Cosmos Books, said the publisher was offering special offers on certain books to try to make up for the business disruption over the weekend. 'Our business has been greatly affected by the typhoon. Saturday and Sunday are [traditionally] the two days with the best sales at the book fair. And I don't think we can make up for the loss on the Sunday. I think it's about a 20 to 30 percent [drop in business],' she said. 'In the beginning, we offered 20 percent off. And today, we selected some special books and can offer 30 percent off. We hope it can attract more people.' To boost sales, major publishers like Commercial Press, Chung Hwa Book and Ming Pao also slashed prices on selected books, to as low as HK$10 each. There were also special offers like "HK$100 for 10 books" and extra discounts for more purchases, as vendors tried to sell as many books as they could. The fair was fairly quiet in the morning, but crowds of people started flocking there in the afternoon looking for bargains. A visitor surnamed Kwok planned to spend about HK$1,000. 'I came a few days ago and I had a great experience. I came back to find some discounted books,' she said. Another bookworm, a woman surnamed Yu returned to the fair with her son after going alone last week. 'The discounts today are much larger compared to last time,' she said. 'I returned to the same publisher to make purchases. Previously, they offered about 20 to 30 percent off, but this time it's up to 60 percent off. I'm buying books that were previously only on my wish list or under consideration. I have a budget of about HK$2,000 to HK$3,000 today.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store