|Day's range||27,084.301 - 27,201.020|
|52-week range||24,540.631 - 33,484.078|
Local observers speak about “dark corners” of Hong Kong’s market where a web of cross-holdings and low liquidity fuel corruption and keep valuations at one of the lowest levels in the world. Much of the losses on Thursday came from Chinese developer Jiayuan International Group Ltd., which plunged 81 percent.
China stocks rallied Friday on hopes of a resolution to the US-China trade wars, based on several news reports, with JD.com, Momo, Vipshop Holdings and YY being among the big gainers.
A weak earnings report from Morgan Stanley had US futures down about -0.35% in the early pre-market session. The UK FTSE 100 was the biggest loser in early Thursday trading, down more than -0.80% at midday. In Asia, the Hang Seng led the losses as traders and investors take advantage of the liquidity event.
A round of better than expected bank earnings has the US equity futures moving higher in the early morning session. The financial sector led the EU market at midday with gains averaging 1.0%. The Shanghai Composite closed with no movement, 0.0%, for the day while the Hong Kong Heng Seng and Shenzen markets both saw small gains.
While Japan is closed for a holiday, key equity markets retreated across the rest of the region, led by declines in Hong Kong and Shenzhen after China released disappointing December trade data and warned of weaker trade growth this year due largely to external uncertainty. It didn’t help that the U.S. government shutdown is showing no sign of ending and S&P 500 Index futures fell as much as 0.9 percent. The MSCI Asia Pacific ex-Japan Index fell 0.9 percent as of 5:05 p.m. in Singapore, the most since the first day of trading this year, as Taiwan, South Korea and other markets also declined.
(Bloomberg) -- Shares in Hong Kong and Shanghai fell and the yuan declined as China’s weakest trade data since 2016 fueled concern about the impact of a dispute with the U.S. and slowing economy.
It’s a big week ahead, with the Brexit vote on Tuesday and a mass of data to give further direction on the global economy, as earnings season kicks off.
A five-session winning streak for global stocks ran out of steam as participants took a more cautious stance ahead of the weekend and the start of the US quarterly earnings season next week. “Although stock markets have mostly dismissed the shutdown as having little relevance for trading, Federal Reserve chairman Jerome Powell has warned that a prolonged US government shutdown could start taking a toll on the country’s economic growth,” said Fiona Cincotta, senior market analyst at City Index.
Equities edged higher in early Asia-Pacific trading on Friday but investors showed relatively muted excitement over fresh signs of progress in the trade negotiations between the US and China. US Treasury ...
Treasury yields advanced with the dollar, and West Texas crude continued its bull market surge past $52 a barrel. The S&P 500 Index rallied as gains in utilities, industrials and real estate shares overwhelmed weakness in retailers sparked by concerns about a sales slowdown and fears about the potential consequences of the ongoing partial government shutdown. Alcohol distributor Constellation Brands Inc. rebounded from Wednesday’s decline to lead the benchmark on positive comments from analysts at Goldman Sachs Group Inc. and Guggenheim Securities.
The average 12-month target on drugmakers is 36 percent higher than their share price, according to data compiled by Bloomberg as of Wednesday. The disparity grew in December, when $46 billion was wiped from health-care stocks as China changed its drug procurement policy in a bid to drive down prices.
With a light economic calendar for the day ahead, Brexit debate and the ECB monetary policy meeting minutes will be in focus.
“I’m happy to see that there was caution in the minutes because it means that the market didn’t mug the Fed,” Alicia Levine, chief strategist at BNY Mellon Investment Management chief strategist, said on Bloomberg TV. Stocks surged as the minutes were released, but they quickly retreated as President Donald Trump emerged from a meeting with Senate Republicans. Trump said the GOP was “very unified” behind his plan to keep the government closed until he gets funding to build a wall along the Mexican border, which is at the center of the dispute.
Stocks rose as trade optimism and oil prices drove the Dow Jones industrials to an early lead Wednesday, but the rally faced a key technical test.
US equity futures indicated a broadly higher open in the early Wednesday pre-market session. The move was driven by optimism a trade deal would soon be reached that both China and the US could agree on, and also expectations for the upcoming earnings season. Later in the day, the FOMC minutes will be released.
FT subscribers can click here to receive Market Forces every day by email. between US and Chinese officials in Beijing have concluded and there are signs of progress. A US statement said officials will report back to the White House.
Hong Kong’s benchmark Hang Seng Index and the Philippine Stock Exchange Index both climbed more than 2 percent each to lead the charge, as Japan, South Korea, Taiwan and others also rose. The MSCI Asia Pacific Index was up 1.3 percent as of 5:14 p.m. in Hong Kong, making its five-day winning streak its biggest gain since early November.
Car companies and home appliance makers led the charge, with Great Wall Motor Co. top of the pile on the CSI 300 Index as it surged by the 10 percent daily trading limit. Geely Automobile Holdings Ltd. was the best performer on Hong Kong’s Hang Seng Index, climbing as much as 11 percent, its biggest jump in two months. Qingdao Haier Co. and Midea Group Co. both advanced more than 5.5 percent in Shanghai and Shenzhen.
It’s risk on through the Asian session, driving demand for commodity currencies, with focus being on U.S – China trade talks and the BoC policy decision.
US stock futures climbed for a fourth day amid rising optimism that the US and China, which ended their trade talks on Wednesday, are inching towards an agreement to resolve a bruising dispute that has rattled the global economy.
All major indexes were higher, led by the small-cap Russell 2000 Index for a second day. Financials were only major industry group in the benchmark that didn’t rise. “Talks with China are going very well!” Trump tweeted on Tuesday morning as the countries wrapped up the meetings.
Asian markets were mixed in Tuesday trading as investors wait on trade-related news. European indices were higher across the board at midday on optimism US/Sino trade talks would produce positive results. US futures were indicated to open higher in early premarket trading.
No updates from Beijing, testing market resolve, with economic data providing yet more disappointment, this morning.
US futures indicated a flat open on Monday as traders wait for word on trade. China’s equity markets were the least bullish in Monday trading, rising about 0.75% in Shanghai and Hong Kong. Traders are expecting some positive developments although nothing substantive is likely to develop at this time.