Express News | He Lifeng: The Chinese and U.S. sides should jointly uphold, implement, and consolidate the important consensuses and outcomes of the summit between the heads of state, promoting the stable development of Sino-U.S. economic and trade relations.
US Outlook, Earnings Elevate Asian Stock Markets
European Equities: European stocks advanced in early trading, with the pan-European Stoxx 600, UK, and Spanish markets hitting record highs; Italian stocks extended gains to reach a more than 24-year high.
The market continues to be buoyed by optimism over the end of the U.S. federal government shutdown and expectations that the Federal Reserve will cut interest rates next month. European stocks rose in early trading today (December 12). The UK and Spanish stock markets hit record highs, while the Italian stock market extended its gains to reach a more than 24-year peak. The pan-European STOXX 600 index rose 3.34 points, or 0.6%, to 583.47 points, hitting an all-time high of 583.58 during the session. The UK FTSE 100 index added 9 points, or 0.1%, to reach 9,909 points, setting a new intraday high of 9,928. Germany's DAX index climbed 261 points, or 1.1%, to 24,349 points, while France's CAC 40 index increased by 67 points, or 0.
Market Snapshot | The Hang Seng TECH Index turned positive in the afternoon session, while the Hang Seng Index and H-share Index rose nearly 1%. Stocks related to internet healthcare, new consumption, and innovative pharmaceuticals performed well througho
Technology and internet stocks rose, with Alibaba-W down 2.24% and Baidu Group-SW down 1.86%; real estate developer stocks climbed collectively, with Sun Hung Kai Properties up 5.38% and China Resources Land up 3.58%; photovoltaic solar stocks generally fell, with GCL Technology down 7.04% and Xinte Energy down 6.03%.
Hong Kong Stocks Midday Review | Mixed performance across the three major indices: Hang Seng Index up 0.63%, Tech Index down 0.41%; Divergence in tech stocks, with Xiaomi rising over 2% and Alibaba falling nearly 3%; Recovery seen in new consumption and i
Technology and internet stocks declined, with Baidu Group-SW down 2.64% and Alibaba-W down 2.56%. Solar energy and photovoltaic stocks broadly fell, with GCL Technology plunging 10.56% and Xinjiang Xinte Energy dropping 7.49%. Meanwhile, oil stocks rose, as PetroChina gained 3.29% and CNOOC increased by 3.04%.
As the U.S. government shutdown is about to end, Morgan Stanley has prepared a timeline for the return of data.
As the U.S. government shutdown nears its end, market focus is shifting from the political deadlock to the release schedule of the backlog of economic data and its implications for the Federal Reserve's December interest rate decision.