Latest news with #HangSengIndex
CNBC
21 minutes ago
- Business
- CNBC
Asia-Pacific markets set to fall as traders await outcome of U.S.-China trade talks
Asia-Pacific markets were set to fall as investors awaited the outcome of the ongoing U.S.-China trade talks. Investors also await the result of the U.S. Federal Reserve meeting due Wednesday stateside, where it will make a decision on whether to cut interest rates. Good morning from Singapore. Asia markets are poised for a weaker open. Japan's benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 40,920 while its counterpart in Osaka last traded at 40,820, against the index's last close of 40,998.27. Futures for Hong Kong's Hang Seng Index stood at 25,367, pointing to a weaker open compared with the HSI's last close of 25,562.13. Australia's S&P/ASX 200 was set to start the day lower with futures tied to the benchmark at 8,606, compared with its last close of 8,697.70. — Lee Ying Shan The S&P 500 closed near the flatline on Monday, with the latest trade deal between the U.S. and EU failing to spark a fresh rally. The broad market index inched up 0.02% to close at 6,389.77, while the Nasdaq Composite gained 0.33% to 21,178.58. The Dow Jones Industrial Average slipped 64.36 points, or 0.14%, to finish the session at 44,837.56. — Brian Evans
RTHK
15 hours ago
- Business
- RTHK
Insurance fillip for HK stocks amid mainland gains
Insurance fillip for HK stocks amid mainland gains The Hang Seng Index closed 173 points, or 0.68 percent, up at 25,562 on Monday. File photo: RTHK Mainland China stocks extended their five-week rally on Monday, with the rare earth sector climbing to a three-year high ahead of crucial trade talks with the United States, while insurers gained following an industry policy change that boosted sentiment. In Hong Kong, the benchmark Hang Seng Index ended up 173 points, or 0.68 percent, at 25,562. The Hang Seng China Enterprises Index rose 0.29 percent to end at 9,17 while the Hang Seng Tech Index fell 0.24 percent to close at 5,664. Insurers AIA, Ping An and China Life gained between 2 percent and 4.9 percent. However, the tech index lost 0.2 percent. Up north, the benchmark Shanghai Composite Index rose 0.12 percent to 3,597, hovering near the highest level in three-and-a-half years while the Shenzhen Component Index closed 0.44 percent higher at 11,217. The combined turnover of these two indexes stood at about 1.74 trillion yuan, down from 1.79 trillion yuan on Friday. Stocks related to copper clad laminate and printed circuit board led gains, while stocks related to coal and antimony suffered major losses. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, increased 0.96 percent to close at 2,362. The Sino-US trade talks will likely see the trade truce extended by three months, preventing the implementation of higher tariffs, according to analysts. The insurance sector added nearly 3 percent to rank among the best performers onshore, after the industry body cut the reference rate for life insurance products. "Investor concerns on U.S.-China trade frictions appear to have eased," Kinger Lau, chief China equity strategist at Goldman Sachs, said in a note. "A potential US-China trade deal could be a market-clearing event for Chinese stocks." (Reuters/Xinhua)
Business Recorder
17 hours ago
- Business
- Business Recorder
China stocks cool after 5-week rally as investors eye US trade talk progress
HONG KONG: China stocks pulled back from a five-week rally on Monday, as investors looked beyond Beijing's efforts to curb competition and overcapacity, instead focussing on U.S. trade talk progress, while Hong Kong stocks rose, driven by insurers' rally. At the midday break, the Shanghai Composite index fell 0.2% to 3,587.69 points after climbing for five straight weeks to a 3-1/2-year high. China's blue-chip CSI300 index shed 0.2%. Commodity-related companies pared last week's rally spurred by Beijing's 'anti-involution' campaign, with indexes tracking steel and coal sectors losing 1.7% and 2.9%, respectively, to weigh on the markets. Beijing launched an 'anti-involution' campaign this month to tackle 'disorderly price competition,' or overcapacity, amid persistent deflationary pressure at home and trade curbs abroad. Insurers added 2.4% to rank among the best performers after the industry body cut the reference rate for life insurance products. Top U.S. and Chinese economic officials will resume talks in Stockholm later in the day, likely extending their trade truce by three months and preventing the implementation of higher tariffs. CITIC Securities says the recent onshore bullish run is mostly liquidity-driven, and whether it can become a longer-lasting bull market will depend on actual improvements in economic fundamentals. Hong Kong's benchmark Hang Seng Index rose 0.4% to 25,490.45 and continued to hover near the highest since November 2021. Insurers AIA, Ping An and China Life gained between 3.2% and 4.5%. However, the tech index lost 0.6%.
Malaysian Reserve
21 hours ago
- Business
- Malaysian Reserve
Wall Street rally lifts Bursa at open
BURSA MALAYSIA rebounded from last week's losses to open higher on Monday, tracking overnight gains on Wall Street. At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.03 points, or 0.26 per cent, to 1,537.79 from Friday's close of 1,533.76. The benchmark index had opened 4.29 points firmer at 1,538.05. Market breadth was positive, with gainers outpacing losers 224 to 133. A total of 293 counters were unchanged, 1,904 untraded, and 43 suspended. Turnover stood at 182.48 million shares worth RM110.09 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Wall Street closed broadly higher, supported by strong United States (US) corporate earnings and positive trade signals, as President Donald Trump indicated more deals could be finalised before the Aug 1 deadline. Regionally, he noted that Hong Kong's Hang Seng Index slipped on profit-taking after a five-day rally. 'Back home, we believe the market is taking a breather and is poised to resume its climb. As such, we expect the index to hover within the 1,530–1,540 range today,' he told Bernama. Among the heavyweights, Maybank rose four sen to RM9.58, Public Bank added one sen to RM4.30, CIMB and IHH Healthcare gained two sen each to RM6.77 and RM6.68 respectively, while Tenaga Nasional slipped four sen to RM13.56. On the actively traded list, YTL Corporation advanced eight sen to RM2.56, Sapura Energy edged up half-a-sen to four sen, Ekovest improved one sen to 41 sen, while NexG and TWL Holdings were flat at 52.5 sen and 2.5 sen respectively. On the broader index board, the FBM Emas Index rose 30.82 points to 11,537.64, the FBMT 100 Index gained 29.54 points to 11,299.26, and the FBM Emas Shariah Index added 21.54 points to 11,550.49. The FBM 70 Index was 43.30 points higher at 16,650.87, while the FBM ACE Index inched up 4.64 points to 4,643.66. Sector-wise, the Financial Services Index climbed 44.89 points to 17,499.12, the Industrial Products and Services Index added 0.28 of a point to 157.42, and the Energy Index rose 0.13 of a point to 739.98. The Plantation Index, however, slipped 4.36 points to 7,430.43. — BERNAMA
RTHK
21 hours ago
- Business
- RTHK
US-EU trade deal lifts local stocks
US-EU trade deal lifts local stocks Stocks rose after a trade agreement between the United States and the European Union lifted sentiment. File photo: RTHK The Hang Seng Index gained 70 points, or 0.28 percent, to open at 25,458 points on Monday. Across the border, the benchmark Shanghai Composite Index rose 0.57 percent to 3,594 while the Shenzhen Component Index was up 0.02 percent at 11,176. Stocks rose after a trade agreement between the United States and the European Union lifted sentiment and provided clarity in a pivotal week headlined by the US Federal Reserve and the Bank of Japan policy meetings. Countries are looking to finalise trade deals ahead of an August 1 deadline, with talks between the US and China set for Monday in Stockholm. (Agencies)
