Monday, 26 February 2024
Trending
Stock Market

Hong Kong stocks are almost at a 15-month low

  • Wall Street hitting new highs and Hong Kong‘s benchmark falling more than 2%.
  • The ultra-low interest rates set by the Bank of Japan were expected to stay in place.
  • The Nasdaq composite reached 15,310.97, up 1.7%.

Monday’s results for Asian markets were uneven, with Wall Street hitting new highs and Hong Kong’s benchmark falling more than 2%. Futures for the Dow Jones Industrial Average and the S&P 500 were up 0.3% as European markets began higher.

The ultra-low interest rates set by the Bank of Japan were expected to stay in place, but the Hong Kong stock market’s Hang Seng fell 2.3% to 14,961.18, marking the worst start to a year since 2016.

Hong Kong stocks

Investors who were expecting steps to boost the economy were disappointed when China’s commercial banks maintained their loan prime rate steady in the face of downward pressure on the currency.

The Dow Jones Industrial Average broke its record a month earlier, rising 1.1% to 37,863.80, while the S&P 500 surged 1.2% to its record of 4,839.81. The Nasdaq composite reached 15,310.97, up 1.7%.

Hopes for rate decreases while U.S. inflation remained low contributed to Wall Street’s surge. The assumption of rate cuts has led to a major relaxation of Treasury yields, which has accelerated the November stock market rise.

Wall Street was also given a significant boost by technology stocks, with numerous chip companies seeing gains for a second day in a row following Taiwan Semiconductor Manufacturing Co.’s better-than-expected revenue projection for this year. In the oil market, benchmark U.S. crude dropped 46 cents to $72.79 per barrel, while Brent crude dropped 55 cents to $78.01 per barrel.

Related posts
Stock Market

The Stock Market Sensex was Ended Higher Today

Indian benchmark records finished higher on Tuesday. Sensex contacted an intraday high of…
Read more
Stock Market

Despite efforts to support markets, Chinese shares plunge

Beijing’s market regulator’s promise to rein in abuses and shield small…
Read more
Stock Market

Following the news, Amazon and Meta soar, while Apple declines

Apple’s worth decreased by $70 billion, following the release of strong quarterly results for…
Read more
Newsletter
Become a Trendsetter

To get your breaking, trending, latest news immediately without diluting its truthfulness join with worldmagzine immediately.

Leave a Reply

Your email address will not be published. Required fields are marked *

Stock Market

Global growth will be driven by India: OECD chairman

Worth reading...