Decrease Open Referred to as For Hong Kong Inventory Market | International Market Information
(RTTNews) – The Hong Kong stock market headed south again on Thursday, sooner or later after ending the two-day dropping streak by which it had tumbled virtually 450 factors or 2 p.c. The Cling Seng Index now sits simply beneath the 23,720-point plateau and it is tipped to open below strain again on Friday.
The worldwide forecast for the Asian markets is adverse on persevering with considerations over U.S. tariffs. The European and U.S. markets completed below water and the Asian markets are anticipated to open in related fashion.
The Cling Seng completed modestly decrease on Thursday as losses from the technology shares have been offset by features from the property sector.
For the day, the index misplaced 69.64 factors or 0.29 p.c to complete at 23,718.29 after trading between 23,441.74 and 24,076.53.
Among the many actives, Alibaba Group stumbled 0.88 p.c, whereas Alibaba Well being Data plunged 2.76 p.c, ANTA Sports activities soared 2.90 p.c, China Life Insurance declined 0.75 p.c, China Mengniu Dairy rallied 2.24 p.c, China Assets Land elevated 0.56 p.c, CITIC and JD.com each dropped 0.54 p.c, CNOOC gained 0.45 p.c, CSPC Pharmaceutical surged 3.53 p.c, Galaxy Leisure climbed 2.12 p.c, Haier Good House jumped 2.15 p.c, Cling Lung Properties superior 0.90 p.c, Henderson Land improved 0.71 p.c, Hong Kong & China Gasoline rose 0.32 p.c, Lenovo tanked 2.69 p.c, Li Auto slumped 0.70 p.c, Li Ning spiked 2.67 p.c, Meituan retreated 0.80 p.c, Nongfu Spring added 0.55 p.c, Techtronic Industries accelerated 2.31 p.c, Xiaomi Company plummeted 5.68 p.c, WuXi Biologics sank 0.42 p.c and Industrial and Business Financial institution of China and New World Improvement have been unchanged.
The lead from Wall Avenue is grim as the most important averages opened greater on Thursday however pale into the crimson because the day progressed, ending close to session lows.
The Dow stumbled 193.62 factors or 0.45 p.c to complete at 43,239.50, whereas the NASDAQ plummeted 530 factors or 2.78 p.c to close at 18,544.42 and the S&P 500 dropped 94.49 factors or 1.59 p.c to finish at 5,861.57.
Shares initially benefited from earnings news from Nvidia (NVDA), which reported higher than anticipated This fall outcomes and offered upbeat income steerage. However its shares subsequently tumbled by 8.5 p.c because the AI darling and market chief additionally warned about increase world competitors.
The sell-off on Wall Avenue additionally got here as President Donald Trump mentioned 25 p.c tariffs on imports from Mexico and Canada will go into impact on March 4. Trump mentioned an further 10 p.c tariff on imports from China will even be imposed, claiming with out proof that medication are pouring into the U.S. from Mexico and Canada and that a giant proportion of them are equipped by China.
In financial news, the Labor Division mentioned first-time claims for U.S. unemployment advantages rose a lot more than anticipated final week. Additionally, the Commerce Division mentioned sturdy items orders surged more than anticipated in January.
Oil costs climbed greater on Thursday because the U.S. choice to revoke Chevron Company’s license to operate in Venezuela raised provide considerations. West Texas Intermediate Crude oil futures for April closed greater by $1.73 or 2.52 p.c at $70.35 a barrel.
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
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