Bloomberg European stocks rose as Covid cases in China eased, while investor attention turned to US inflation data for clues on the path of monetary policy. The Stoxx Europe 600 Index was up 1.3% by 12:28 pm in London, extending a rebound from a four-week long slump that was sparked by concerns over tightening central bank policies, surging commodity …
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Bloomberg The rout in stocks isn’t over just yet, according to Morgan Stanley strategists, who see scope for both US and European equities to correct further amid mounting concerns of slowing growth. Strategist Michael Wilson, who has long been a skeptic of the decade-long bull run in US stocks, said in a note that even after five weeks of …
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Bloomberg Chinese tech stocks fall as Hong Kong markets reopened after a holiday to face renewed growth worries and persistent regulatory risks, sparking another bout of selling. The Hang Seng Tech Index tumbled 3.2% on Tuesday, extending its slide into a fifth day. JD.com Inc. and Alibaba Group Holding Ltd. were among the biggest drags. Key equities gauges across …
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Bloomberg The benchmark Philippine stock index dropped amid a global selloff, as investors awaited economic plans of Ferdinand Marcos Jr. who, based on an unofficial count of the vote, is headed for a landslide win in the presidential election. The Philippine Stock Exchange Index ended 0.6% down at 6,720.93, its lowest close in nine months. It falls as much …
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Bloomberg Fed hikes, decades-high inflation and Covid lockdowns in China are only adding to investor bets that Southeast Asia’s stock markets may be one of the best places to park their money right now. Buyers are touting an economic reopening and the region’s attraction as a hedge against higher commodity prices, which is helping the MSCI Asean Index break …
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Bloomberg Bitcoin is falling towards levels last seen in July 2021, part of a wider retreat in cryptocurrencies amid a global flight from riskier investments. The world’s largest digital token dropped as much as 2.7% on Monday and was trading at $33,568 as of 8:44 am in London. The second biggest, Ether, shed as much 4.6%. Most of the …
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Bloomberg Technology stocks led a broad rally in Chinese equities on Friday as the nation’s top leaders vowed to boost economic stimulus and as speculation grew about a possible easing of the continued crackdown on internet firms. The Hang Seng Tech Index jumped 10% in Hong Kong, the most since March 16, led by names like Alibaba Group Holding Ltd. …
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Bloomberg The yen’s plunge to a 20-year low threatens to leave it significantly weaker for years to come, shaking up global money flows and undermining Japan’s efforts to get its fragile economy back on track. The speed of the decline — it’s slumped 11% against the dollar in seven weeks — has caught policy makers off guard and exposed divisions …
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Bloomberg Shares of Facebook parent company Meta Platforms Inc. surged during pre-market hours on Thursday, a day after reporting its main platform added more users than projected in the first quarter, potentially staving off concerns that the company is losing momentum as a new generation flocks to younger sites like TikTok. The stock gained as much as 19% during pre-market …
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Bloomberg European stocks advanced for a second day, trimming their monthly decline, as investors monitored a busy earnings day to gauge the companies’ ability to overcome inflationary and policy risks. The Stoxx Europe 600 Index was 1.3% higher by 9:39 am in London, with autos and technology sectors outperforming. Banks also rise as Standard Chartered Plc shares surged after …
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