one hour ago
Zee Entertainment shares fell over 10% after a $240 million accounting release
2 hours ago
HSBC's annual pre-tax profits jump 78%, beating market estimates
HSBC on Wednesday reported full year 2023 pre-tax results he won It rose nearly 78% to $30.3 billion from a year ago, missing the average estimate of $34.06 billion from analysts tracked by LSEG.
Its Hong Kong shares reversed their gains, falling by more than 2%, compared to the Hang Seng Index’s 3% gain. The bank's shares have gained about 0.5% so far this year after jumping 23% in 2023, with the Hang Seng Index declining 14%.
Its last trading was down 2.55%.
– Clement Tan, Li Ying Chan
5 hours ago
Hang Seng Index jumps 2%, supported by pharmaceuticals, technology and real estate
Hong Kong's Hang Seng rose 2.36% in morning trade, supported by a mix of healthcare, basic materials and technology stocks.
The index's gains were led by pharmaceutical companies WuXi AppTec, which jumped 6.85%, and WuXi Biologics, which rose 5.92%.
The shares of the manufacturing company Techtronic Industries rose 4.63%, while the shares of the real estate company Longfor Properties gained 5%.
Other heavyweight indicators are in the green. Meituan shares rose 5.72%, while Ping An and Hong Kong-listed JD.com shares rose 3.41% and 3.22%, respectively.
The Hang Seng Technology Index, which tracks the 30 largest technology companies listed in Hong Kong, rose 3.12%.
-Li Ying Shan
7 hours ago
Annual wages in Australia are rising at the fastest pace in 15 years
Australia's annual wage growth rate has risen to 4.2%, marking the fastest annual pace in 15 years, according to a new report. Australian Bureau of Statistics Wage Price Index.
Australian wages jumped quarter-on-quarter by 0.9% in the December quarter of 2023, driven largely by the education and training sector, as well as the health care and social assistance sector, government data showed. This number matches the expectations of analysts polled by Reuters.
“This quarter witnessed a much higher contribution to growth from the public sector,” the report stated.
—Li Ying Shan
8 hours ago
Japan's exports in January rose 11.9% year-on-year
Japan exports It rose 11.9% in January year-over-year According to official data.
The reading exceeded Reuters estimates, with an increase of 9.5%. The country's imports decreased by 9.6%, compared to expectations of a decrease of 8.4%.
Japan recorded a trade deficit of 1.758 trillion yen ($11.73 billion), compared to a surplus of 68.9 billion yen in December.
-Li Ying Shan
7 hours ago
CNBC Pro: Do you want steady, passive income? Wall Street says: Buy these dividend stocks with higher yields
Dividend stocks often attract investors who want steady income and long-term growth.
Wall Street and other professionals share their tips on how to pick stocks with good dividends and names that will generate sustainable income.
Some of these names are expected to deliver higher returns than cash, according to Bank of America.
CNBC Pro subscribers can read more here.
-Weezin Tan
8 hours ago
Sentiment deteriorates at major Japanese companies in February: Reuters Tankan survey
Business sentiment at major Japanese companies deteriorated in February, according to the monthly Reuters Tankan survey. The data reinforces fears of further economic weakness in Japan, after data last week showed that the economy slid into a technical recession.
The Manufacturer Confidence Index stood at -1, compared to +6 in January. Separately, the survey also showed that the services sector index stood at +26, down from +29 in January. A negative number indicates that the number of pessimists outnumbers the number of optimists in the sector, and vice versa.
“The loss of business confidence raises concerns that Japanese companies may become reluctant to raise wages enough to achieve stable and sustainable inflation in a country mired in a deflationary mentality for more than a decade,” Reuters reported.
The monthly Reuters poll is considered a leading indicator of the official survey conducted by the Bank of Japan.
-Li Ying Shan
7 hours ago
CNBC Pro: 'It's a good time to invest in real estate': Pros name 5 REITs to play now
Rising inflation and interest rates have put significant pressure on many sectors – especially real estate. But some market watchers believe things may be about to turn.
“I think this is a good time to invest in real estate, especially since we expect interest rates to fall over the next 12 months,” says Kevin Brown, senior equity analyst at financial services firm Morningstar.
Brown, along with Rick Romano of PGIM Real Estate, reveals the best REITs to buy right now.
CNBC Pro subscribers can read more here.
– Amala Balakrishner
11 hours ago
Stocks closed lower on Tuesday
Here's how the major indicators closed:
– Piya Singh
12 hours ago
US crude fell more than 1 percent after hitting its highest level in three months last week
An aerial view of the Phillips 66 oil refinery in Linden, New Jersey, United States.
Taifun Cusco | Anatolia Agency | Getty Images
US crude oil futures fell on Tuesday after hitting a three-month high last week as conflict intensified in the Middle East.
The West Texas Intermediate March contract fell $1.01, or 1.28%, to settle at $78.18 a barrel. The Brent April contract fell $1.22, or 1.46%, to $82.34 a barrel. There was no settlement for WTI on Monday due to the President's Day holiday.
US crude rose 3% last week to settle on Friday at its highest price, $79.19 a barrel, since November 6. The global benchmark rose 1.5% during the week to settle at its highest price since January 26.
Robert Thummel, senior portfolio manager at Tortoise Capital, said prices are likely to decline on Tuesday partly because traders are taking profits after West Texas Intermediate crude has posted a strong rise so far this month.
Crude oil futures rose last week on conflict in the Middle East after Israel launched strikes in Lebanon and vowed to continue its Gaza offensive on the southern city of Rafah.
On Monday, Houthi militants attacked another cargo ship in the Bab al-Mandab Strait, forcing the ship's crew to abandon it. The Iranian-allied militants claimed to have caused “catastrophic damage” to the ship.
-Spencer Kimball
“Devoted student. Bacon advocate. Beer scholar. Troublemaker. Falls down a lot. Typical coffee enthusiast.”