HK stocks slip amid wait for Nvidia and Fed signals
Asian shares were mostly higher Tuesday after US stocks drifted to a mixed finish ahead of potentially market-moving events later in the week. In Hong Kong, the benchmark Hang Seng Index slipped six points into the red to 25,511 on turnover of HK$254.08 billion. The tech index dropped five points, or 0.1 percent, to 4,588 while the China enterprises index was 25 points, or 0.3 percent, lower at…
Asian markets saw a mostly positive trend on Tuesday, with US stocks fluctuating ahead of key events. Hong Kong's Hang Seng Index closed 6 points lower at 25,511, while the tech index fell 0.1 percent to 4,588. The China enterprises index dropped 25 points, or 0.3 percent, to 8,445. On the mainland, Shanghai's Composite Index edged up 7 points, or 0.19 percent, to 3,889.
The Shenzhen Component Index declined 0.35 percent to 13,745, and the ChiNext Index slipped 1 percent to 3,397. In Tokyo, the Nikkei Index rose 328 points, or 0.5 percent, to 65,856, buoyed by chip-related stocks. The Main Index, Topix, increased 20 points, or 0.5 percent, to 4,093. South Korea's Kospi Index climbed 45 points, or 0.68 percent, to 6,742, indicating cautious optimism about the AI industry's profitability.
The mixed market performance followed Nvidia's 2.9 percent drop on Monday, as the chip giant prepares to release its quarterly earnings on Wednesday. The upcoming Federal Reserve's Chair Kevin Warsh's speech on Friday at the Jackson Hole economic symposium is also anticipated to impact AI-related stocks, as he likely discusses inflation and the Fed's strategy to address it.
Written by urgent.news from RTHK News - Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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