The Hong Kong stock market has experienced four consecutive sessions of decline, losing over 550 points or 3.2 percent during that period. The Hang Seng Index is currently just below the 17,450-point mark but might find some momentum heading into Friday.The global forecast for Asian markets suggests minimal movement ahead of the key U.S. jobs data release later today. European markets saw declines, while U.S. markets were mixed to flat, implying a similar trend for Asian markets.On Thursday, the Hang Seng Index closed slightly lower as losses in technology and financial sectors were offset by gains in the property sector. The index dipped 13.04 points or 0.07 percent to finish at 17,444.30, within a trading range of 17,332.49 to 17,555.61.Key performers included Alibaba Group, which shed 0.37 percent, and Alibaba Health Info and China Life Insurance, both of which gained 1.05 percent. ANTA Sports rose 0.67 percent, China Mengniu Dairy advanced 0.78 percent, and China Resources Land spiked 1.69 percent. On the downside, CITIC fell 0.67 percent, CNOOC lost 0.30 percent, CSPC Pharmaceutical dropped 1.65 percent, and Galaxy Entertainment plunged 1.85 percent. Haier Smart Home rallied 1.46 percent, while Hang Lung Properties and WuXi Biologics both fell 0.18 percent. Henderson Land surged 2.36 percent, Hong Kong & China Gas climbed 0.81 percent, and the Industrial and Commercial Bank of China declined 0.94 percent. JD.com tumbled 1.42 percent, Lenovo sank 0.43 percent, and Li Auto retreated 1.28 percent, whereas Li Ning gained 0.42 percent, Meituan ticked up 0.08 percent, New World Development soared 2.12 percent, Nongfu Spring plummeted 2.03 percent, Xiaomi Corporation dropped 0.64 percent, and Techtronic Industries remained unchanged.Wall Street’s signals remain mixed. The major averages opened varied on Thursday, remaining close to the line before finishing with little change. The Dow dropped 219.22 points or 0.54 percent to 40,755.75, while the NASDAQ gained 43.36 points or 0.25 percent to 17,127.66. The S&P 500 fell 16.66 points or 0.30 percent to 5,503.41.The mixed performance on Wall Street came after the release of varied employment data ahead of the Labor Department’s monthly jobs report. Economists predict an increase of 160,000 jobs in August, following a rise of 114,000 in July. The unemployment rate is expected to decrease to 4.2 percent in August, down from 4.3 percent in July, the highest since October 2021.Before trading began, payroll processor ADP reported that private sector employment in the U.S. increased by much less than anticipated in August.Crude oil futures settled lower on Thursday due to demand concerns, although reports of OPEC postponing plans to boost production next month limited the downside. West Texas Intermediate Crude oil futures for October settled down by $0.05 at $69.15 a barrel, marking the lowest settlement in approximately nine months.The material has been provided by InstaForex Company – www.instaforex.com
- U.S. Extend Upward Trend Amid Optimism About Lower Interest Rates - September 13, 2024
- United Airlines Collaborates With Elon Musk’s SpaceX To Offer Complimentary Inflight Wi-Fi - September 13, 2024
- Apple’s IPad Users Can Download Apps From Third-Party App Stores In The EU - September 13, 2024
