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Home»Finance»Hong Kong stocks gain 3% as China vows support for ailing property market
Finance

Hong Kong stocks gain 3% as China vows support for ailing property market

finvestadminBy finvestadminJuly 25, 2023No Comments4 Mins Read
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1 hour ago

South Korean economy grows 0.9% in Q2

Gross Domestic Product of South Korea 0.9% YoY increase According to advance forecasts, it is scheduled for the second quarter of 2023.

That was unchanged from 0.9% in the first quarter and above the 0.8% forecast of economists polled by Reuters.

South Korea’s GDP grew by 0.6% quarter-on-quarter, marking its biggest quarterly growth since the second quarter of 2022.

— Lim Huisier

1 hour ago

CNBC Pro: Stocks, Bonds, Commodities or Cash? Citi and More Reveal How They’re Allocation Now

With the S&P 500 approaching 20% ​​year-to-date, some investors are wondering if stocks are nearing a tipping point.

Other potential risks include this week’s Federal Reserve interest rate decision and next month’s inflation data, including an inverted yield curve that many believe portends a recession.

So how should investors allocate their portfolios in this environment? Citi, TS Lombard and Wells Fargo Investment Institute advise:

CNBC Pro subscribers can read more here.

— Tan Weizhen

1 hour ago

CNBC Pro: Only four global stocks have increased their dividends by more than 10% in the last 15 years

Dividend growth is often a key factor for investors looking for stable earnings, and four global companies are notable for their consistent and significant dividend increases.

One of them is a multinational food and beverage company that has consistently increased its dividend by more than 10% since 1993. Another stock saw his price-to-earnings ratio rise more than 4,000% on top of its continued dividend payouts.

CNBC Pro subscribers can read more here.

— Ganesh Rao

1 hour ago

‘High value, low risk, high quality’: BofA names Europe’s leading stocks to beat recession

Bank of America has described several of Europe’s “top stocks” as “high value, low risk” and “high quality.”

They all appeared in July’s “recession screen” in a market BofA described as being in a recession cycle. “The style cycle refers to the relationship between business cycles and investment styles,” the bank said in a research note dated July 19.

CNBC Pro subscribers can read more here.

— Lucy Handley

11 hours ago

The Fed Reportedly Not Confident That Inflation Has Cooled Enough

Federal Reserve officials will likely need more evidence before declaring victory on inflation, the paper said. Wall Street Journal report.

The report, citing economists and Fed officials, said the fall in inflation could be temporary, reflecting concerns policymakers had when inflation was rising, and that it also appears to be temporary.

Inflation uncertainty has spread to the White House, with one of the top economists, Jared Bernstein, telling CNBC last week, “Our job is not done yet.”

The Fed is expected to raise rates by another quarter of a percentage point this week, emphasizing its commitment to further reducing inflation. Investors will be listening closely to Chairman Jerome Powell for more clues about policy direction.

— Jeff Cox

12 hours ago

Oil and gasoline prices rise to 3-month highs

West Texas Intermediate crude could close above its 200-day moving average ($77.14) on Monday for the first time since last August. The September contract had already hit $77.85 a barrel on Monday, the highest since April 26.

Brent, the global crude benchmark for September, hit $81.84 in the early hours of Monday, its highest since April 25.

US benchmark August RBOB gasoline contracts (RBOB stands for Reconditioned Gasoline Blendstock for Oxygen Blending) rose to $2.8403 a gallon on Monday, the highest since April 14.

Meanwhile, the Energy Select Sector SPDR fund rose 0.8% early Monday morning, adding to a 4% gain over the past five trading days led by Valero Energy, Devon Energy and Phillips 66 (PSX), which has risen nearly 7% over the past week.

“Crude oil looks poised for a breakout,” Strategas’ technical and macro research team wrote on Monday.

— Scott Schnipper, Gina Francola

11 hours ago

Manufacturing improves, services recede in July, PMI readings are as follows

Manufacturing activity recovered in July but continued to contract, according to the report. S&P Global Flash PMI Measure Released on Monday.

The Purchasing Managers Index for the manufacturing sector recorded a figure of 49, representing the percentage of companies reporting expansion. That’s an improvement from June’s 46.3, but it’s still below the 50 level that separates expansion from contraction.

Conversely, the service industry PMI was 52.4, which was on an upward trend, but was lower than June’s 54.4, the lowest level in five months.

— Jeff Cox

8 hours ago

Q2 Earnings Scorecard

This week kicks off one of the busiest weeks of the second quarter earnings season, with 30% of the S&P 500 Index reporting earnings. This includes revenue from tech giants such as Microsoft, Metaplatform and Alphabet.

So far this season, 18% of companies in the composite index have reported earnings, and 60% have beaten revenue expectations, according to FactSet. About 76% of companies beat their earnings-per-share expectations.

Analysts are generally betting for a year-over-year profit decline of more than 9% based on compound growth.

— Samantha Soobin

ailing China gain Hong Kong market Property Stocks Support vows
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