However,
Hang seng index news: tech:
Hang Seng Index Winning Streak at Risk – Hang seng index news: tech
The Hang Seng Index declined 0.56% to 24,941 in morning trading, potentially snapping a four-day winning streak. However, Chinese chipmaker Semiconductor Manufacturing International Co. Additionally, However, (0981) dropped 5% after releasing disappointing earnings results, weighing on the broader tech sector. Meanwhile, Mainland China’s CSI 300 and Shanghai Composite advanced 0.06% and 0.03%, respectively.
Investor caution ahead of Saturday’s crucial inflation and producer price numbers tempered demand for risk assets. Consequently, Economists forecast consumer prices to fall 0.1% year-on-year in July after rising 0.1% in June. For example, Producer prices are expected to decline 3.3% year-on-year, following June’s 3.6% drop. Intensifying competition and deflationary pressures may impact corporate earnings and share prices.
Overnight (August 7), US equity markets posted mixed performances as US economic data and corporate news influenced sentiment. The Nasdaq Composite Index gained 0.35%, hang seng index news: tech while the Dow fell 0.51% and the S&P 500 edged down 0.08%.
Eli Lilly (LLY) plunged 14.14% following disappointing trial data on its oral weight-loss drug. Apple Inc. (AAPL) rallied 3.18%, extending its gains from Wednesday, on relief that the US tech giants will avoid 100% tariffs on chips and semiconductors.
However, weaker US labor market data weighed on risk sentiment while also bolstering expectations of a September Fed rate cut. Initial jobless claims rose from 219k (week ending July 26) to 226k (week ending August 2). Unit labor costs increased 1.6% quarter-on-quarter in the second quarter, easing from a 6.9% increase in Q1.
Tech. EV Stocks Pull the Hang Seng Index into the Red
Disappointing earnings results sent the Hang Seng Tech Index down 1.08%. Tech giants Alibaba (9988) and Baidu (9888) fell 1.51% and 1.15%, respectively, with Tencent (0700) down 0.62%.
hang seng index news: tech — hang seng index news: tech Hang seng index news: tech: Hang Seng Index Winning Streak at Risk The. Hang Seng Index declined 0.56% to 24,941 in morning trading, potentially snapping a four-day winning streak. Chinese chipmaker Semiconductor Manufacturing International Co. (0981) dropped 5% after releasing d.
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