Hong Kong Stocks Drop For Fifth Successive Day

Hong Kong stocks fell for a fifth straight day on Tuesday, hit by fears over the China-US trade row, a brewing emerging markets crisis and a sell-off in technology firms.

The Hang Seng Index fell 0.72 percent, or 190.87 points to 26,422.55.

The benchmark Shanghai Composite Index lost 0.18 percent, or 4.68 points, to end at 2,664.80, its lowest closing point since late January 2016.

However, the Shenzhen Composite Index, which tracks stocks on China’s second exchange, edged up 0.17 percent, or 2.42 points, to 1,409.34.

Source : AFP

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US Stocks Set To Bounce Higher after Last Week’s Drop

US stock futures rose moderately Monday, suggesting the equity market could rally following last week’s pullback.

Dow Jones Industrial Average futures tacked on 86 points, or 0.3%, to 26,045, while S&P 500 futures gained 9.80 points, or 0.3%, to 2,884.50. Nasdaq-100 futures advanced by 36.75 points, or 0.5%, to 7,475.25.

On Friday, the Dow , S&P 500 and Nasdaq Composite finished lower for the session and notched weekly losses, with the S&P and Nasdaq shedding 1% and 2.6%, respectively.

The three gauges are showing year-to-date gains ranging from 4.8% to 14%.

Source : Markewatch

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European Stocks Drop Third Day as Banks to Miners Fall on EM

European equities fell for a third straight day with banks and miners leading declines as investors consider the potential impact from the selloff in emerging markets amid concern about an economic slowdown.

The Stoxx Europe 600 Index opened down about 0.4 percent at 374.20 after closing on Wednesday at the lowest since April 9. BHP Billiton was down 0.4 percent after adjustment for going ex-dividend, while HSBC Holdings retreated 0.6 percent and Banco Santander slid 0.7 percent.

Currency crises in Brazil and Argentina, economic turmoil in Turkey and a trade-war scare in Asia have rocked European equities, as some of the region’s biggest companies have significant exposure to the regions. The correlation between European and emerging-market equities has been on the rise, climbing to 0.6 from 0.3 in June. Investors will also be monitoring the latest trade developments as President Donald Trump may announce another round of tariff hikes on Chinese imports as soon as Thursday.

Source : Bloomberg

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