China Evergrande Group plunged nearly 12% to its lowest in more than six years, after it warned of a risk of cross-default as real estate sales continued to plunge. “Risks are skewed to the downside amid the double whammy of macro weakness and regulatory uncertainty,” https://forex-reviews.org/ Morgan Stanley strategists including Laura Wang said in a research report. The Wall Street bank cut its targets for the HSI and Hang Seng China Enterprises Index by 4% while noting the difficulty in quantifying the impact of Beijing’s crackdown.
- The world’s 20 wealthiest people lost a combined $9.1 bn this week over renewed concerns that Europe’s crisis might worsen.
- Tracking the momentum, the Nifty index is expected to reclaim its crucial psychological level of 8,250 in trade today.
- Tracking the momentum, the Nifty index is expected to retest its crucial psychological level of 8100 in trade today.
- The first rate cut in more than two years reflects a change of course for Beijing and the central bank, which had persisted with modest stimulus measures.
- Tracking the momentum, the index is expected to head lower, but may bounce back from its key support levels of 8,290-8,280 levels.
The Shanghai Composite Index gained 0.89 percent, or 29.60 points, to 3,349.75, while the Shenzhen Composite Index on China’s second exchange put on 1.32 percent, or 28.66 points, to 2,192.67. Benchmarks fell more than 1% in Tokyo, Hong Kong and Bangkok. On Wednesday, the S&P 500 fell 0.4% in its third straight loss though the index remains near its best level in 20 months. Elsewhere, China Machinery Huanyu Certificate jumped 170 per cent to 45.44 yuan per share on the first day of trading in Shenzhen.
By the midday break, the Hang Seng Index was down 1.9 per cent at 27,954.52, the lowest since Jan. 12, while Chinese H-shares listed in Hong Kong fell 2.18 per cent to 10,868.77. A report Wednesday said private employers added fewer jobs last month than economists expected. A cooling in the job market could remove upward pressure on inflation. A more comprehensive report on the job market from the U.S. government is due Friday. Delta Air Lines climbed 3.5% after it told investors it’s sticking to its forecasts for revenue and profit for the end of 2023.
The Hang Seng is up for an overhaul: Here’s what’s in store
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“Trend in investment activity of FIIs and movement in global markets will determine the near term trend on the domestic bourses.” Nifty remained under tremendous throughout the trading session and ended the day with a loss of 153 points at 8067. FTSE futures, DAX futures and EuroSTOXX 50 futures all fell by just over 1%.
- American depositary receipts for tech giants have racked up losses with Tencent Holdings Ltd., Alibaba Group Holding Ltd., and Nio Inc., erasing more than 9% each this week.
- Tracking the momentum, the index is expected to reclaim 8500 and head higher to touch its fresh record highs.
- Tracking the momentum, the Nifty index is expected to reclaim its crucial psychological support level of 7850 in trade today.
- The index is expected to head lower in morning trade, but should be able to pare losses and retest 7,800 levels later in trade today.
- Tracking the momentum, the Nifty index is expected to retest its crucial psychological level of 7,800 in trade today.
The Hong Kong China Enterprises Index gained 3.1% to 7,770.98. MSCI’s broadest index of Asia-Pacific shares outside Japan slid to 495.03, its lowest since Nov. 29. It was last down 1.14% at 497.11, with the index down 8% for August and set for its worst monthly performance since September.
Hong Kong’s drawing a crowd of skeptics
The Hang Seng in Hong Kong fell 1.5% to 16,222.19 on renewed heavy selling of technology and property shares. Economists said a holiday season rush of shipping likely helped push exports higher. China reported that its exports rose https://forexbroker-listing.com/ 0.5% in November, the first year-on-year month of increase since April, but imports fell. Early Thursday, U.S. crude was up 44 cents at $69.82 per barrel. The 10-year yield settled at 4.121%, its lowest level since August.
Tracking the momentum, the Nifty index is expected to retest its crucial support levels placed around 8,040. The Shanghai Composite Index fell as much as 2% before ending the day down 0.6%, its lowest close since March 10. The blue-chip CSI300 index clawed back from losses to end up 0.2%, but was still down about 6.5% for the week.
Hang Seng Index Falls 4.15% This Week to 16830.30 — Data Talk
But travel-related companies advanced as falling crude prices relieved expected cost pressures. Losses for Big Tech stocks, which are some of Wall Street’s most influential, also weighed on the market. Japan’s Nikkei 225 and Australia’s S&P/ASX 200 each dropped 0.2 per cent, while South Korea’s Kospi tumbled 1.2 per cent. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes.
Casinos and Evergrande crisis renew worries over China stocks
BANGKOK (AP) — Shares fell Thursday in Asia after a retreat on Wall Street as crude oil prices slipped on expectations that supply might outpace demand. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not https://broker-review.org/ be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.
Pre-market: Nifty seen opening flat; has strong support at 8170
The trade is likely to remain volatile, but the index may reclaim its crucial psychological level of 8250. MSCI’s gauge of Asia Pacific stocks outside Japan slipped 0.25%, while Japan’s Nikkei 225 fell more than 0.3% in the morning session. The 10-year yield fell to 4.11% but rose to 4.16% by early Thursday.
Tracking the momentum, the Nifty index is expected to reclaim its crucial psychological level of 8,600 levels. Tracking the momentum, the Nifty index is expected to retest its crucial support level of 8,420 in trade today. Tracking the momentum, the Nifty index is expected to reclaim its crucial psychological level of 8,150 levels.