American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

Hong Kong stocks decline as investors react to China’s economic data and Fed rate decision

by admin September 16, 2024
September 16, 2024
Hong Kong stocks decline as investors react to China’s economic data and Fed rate decision

Asian markets opened with varied performances on Monday, reflecting investor reactions to recent economic data and weather-related disruptions.

Hong Kong’s Hang Seng Index fell by 0.76% as investors digested weak economic indicators from China. Meanwhile, Australia’s S&P/ASX 200 and Taiwan’s Weighted Index posted modest gains.

Hong Kong’s Hang Seng index drops

The decline in Hong Kong’s Hang Seng Index was driven by disappointing economic figures from China released over the weekend.

August data revealed that factory output, retail sales, and investment numbers all fell short of expectations. Additionally, the urban jobless rate reached a six-month high, and year-on-year home prices dropped at their fastest pace in nine years.

These figures raised concerns about the health of China’s economy and contributed to the negative sentiment in Hong Kong’s stock market.

Australia’s S&P/ASX 200 rises 0.44%

In contrast to Hong Kong, Australia’s S&P/ASX 200 opened up 0.44%, signaling some positive momentum. The index’s increase may reflect a degree of investor optimism despite regional uncertainties.

Additionally, the Taiwan Weighted Index showed a slight uptick, suggesting cautious optimism among investors in the region.

Japanese yen strengthens

Japan’s markets remained closed for Respect for the Aged Day, but the Japanese yen strengthened to 140.49 against the US dollar.

This represents the yen’s strongest level in over a year. Expectations for Japan’s inflation data, set to be released soon, are that it will show a slight increase in August.

This may influence the Bank of Japan’s upcoming policy decisions. The central bank is anticipated to keep interest rates unchanged while signaling potential future rate hikes.

Typhoon Bebinca causes flight cancellations in China

Typhoon Bebinca has disrupted travel in China, leading to the cancellation of hundreds of flights. Shanghai, in particular, is expected to experience the strongest storm since 1949.

The typhoon’s impact on economic activities and investor sentiment is an additional factor influencing market conditions across the region.

Read More: China’s housing market: Is the bottom in sight?

Market closures and upcoming central bank decisions

Markets in mainland China and South Korea were closed for the Mid-Autumn Festival, while Japan’s Respect for the Aged Day holiday also contributed to reduced trading activity.

Investors are awaiting key central bank decisions from the region, including China’s setting of its one- and five-year loan prime rates on Friday.

The current one-year loan prime rate stands at 3.35%, and the five-year rate at 3.85%. These rates are crucial as they impact loan and mortgage pricing.

US indexes end the week on a high note

In the US, after a challenging start to September, major indexes ended the previous week on a positive note. The S&P 500 gained 0.54%, closing at 5,626.02, while the Nasdaq Composite rose 0.65% to 17,683.98.

The Dow Jones Industrial Average increased by 0.72%, ending the week at 41,393.78. This marked the best week of 2024 for the S&P 500 and Nasdaq Composite, signaling a rebound amid broader market volatility.

The post Hong Kong stocks decline as investors react to China’s economic data and Fed rate decision appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
AMD stock price analysis: buy or sell this Nvidia rival?
next post
Cardano price prediction: No good reason to invest in ADA

Related Posts

Top crypto price prediction: Jasmy, Fartcoin, Gala, FET

April 20, 2025

Rumble stock price has soared: time to short...

December 27, 2024

Visa stock price hits resistance ahead of earnings:...

January 24, 2025

Coal 101: The 4 Coal Types and Their...

February 7, 2024

True North Copper Updates Vero Copper-Silver Resource

August 9, 2024

European Lithium to Acquire Leinster Lithium Project in...

April 23, 2024

Top 4 crypto price predictions: BNB, Hedera HBAR,...

February 12, 2025

USD/ZAR: South African rand is rising, but a...

January 14, 2025

Sage Potash Closes Private Placement of $1,822,500

May 28, 2024

Melodiol Q2 Revenue and Updates

July 3, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (3,022)
    • Investing (2,459)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved