Wednesday, December 4, 2024

Chinese and Hong Kong stocks rise.Australian stocks hit two-year high

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4 hours ago

Tencent and NetEase rebound after assurances from Chinese gaming regulator

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NetEase stock rebounds

Tencent and NetEase shares soar after China’s top gaming regulator said it would “carefully study” all stakeholders’ concerns over draft rules aimed at curbing excessive online gaming and spending. I rebelled.

Hong Kong-listed stocks of Tencent, NetEase and Bilibili, some of the biggest players in the world’s largest online gaming market, fell after the draft guidelines released last Friday by the China National Press and Publishing Administration.

See chart…

Tencent stock rebounds

NetEase shares rose nearly 14% in early trading as Hong Kong markets returned from the Christmas break. Shares fell about 25% on Friday. Rival Tencent opened Wednesday trading up 3% after losing more than $43 billion in market capitalization in Friday’s selloff.

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— Clement Tan

6 hours ago

Australian stocks hit 2-year high, dollar flat

Australian shares led gains in Asia-Pacific markets early on Wednesday.

When trading resumed this week, Australia’s S&P/ASX 200 index rose as much as 1.2% to hit a high of 7,593.40, its highest level since late April 2022. The Australian dollar remained flat against the US dollar.

The index is aiming for an increase of more than 7% in 2023. Australian shares are faring better than other major Asia-Pacific markets. Hong Kong’s Hang Seng Index has fallen more than 17% this year, and China’s CSI300 index has fallen more than 13%.

Australian shares were buoyed in part by the Federal Reserve’s more dovish leanings, after the central bank left interest rates unchanged at its last meeting of the year and said it would not raise interest rates in the future. It is supported by expectations.

Minutes from the RBA’s last meeting show the Australian central bank debated whether to raise interest rates by 25 basis points or keep them unchanged, with board members ultimately deciding to keep the rate unchanged at 4.35%.

— Shreyashi Sanyal

6 hours ago

CNBC Pro: AI, wearables, these markets are growing rapidly as the world ages.Sharing 4 stocks chosen by professionals

The world is rapidly aging and there are more and more ways to invest in this theme.

CNBC Pro asks expert investors in the field about emerging trends and stocks to buy.

Subscribers can read more here.

— Tan Weizhen

6 hours ago

CNBC Pro: These 8 stocks rise with a 100% hit rate when the ‘Golden Cross’ chart pattern forms

According to CNBC Pro analysis, eight stocks have risen every time a chart pattern known as a “golden cross” occurred.

A golden cross pattern occurs when a stock’s short-term 50-day moving average exceeds its long-term 200-day moving average on a chart. Wall Street often views this as a bullish signal, an indicator of strong upward momentum ahead of sustained gains.

Technical analysis of these stocks shows that the stock price rose an average of 15% 100% of the time in the 30 days after the pattern formed.

CNBC Pro subscribers can read more here.

— Ganesh Rao

9 hours ago

Stocks end higher, S&P nears record

Stocks started the final trading week of 2023 higher.

The S&P 500 Index rose 0.4% to end at 4,774.75 and the Nasdaq Composite Index rose 0.5% to end at 15,074.57. The Dow Jones Industrial Average rose 159.36 points, or about 0.4%, to close at 37,545.33.

— Samantha Subin

10 hours ago

Energy stocks outperform, rising on rising oil prices

11 hours ago

Again Capital’s Kilduff said further pressure on oil is expected.

It’s been a tough year for oil, but John Kilduff doesn’t think things will get any easier for the commodity.

Kilduff, a founding partner at Again Capital, said on CNBC’s “Squawk on the Street” that “we’re going to see some temporary highs over the next year, but for the most part, the economic outlook remains very low.” There are headwinds blowing,” he said.

He noted that the outlook for the global economy is softening, “which probably speaks volumes about oil demand.” [and] “Forecasting next year’s energy demand,” he added, “With the U.S. having record production and very high exports, OPEC+ has enough to keep prices well above our current prices.” “We cannot make any significant reductions,” he said. right now. “

West Texas Intermediate futures rose more than 3% on Tuesday, but 2023 fell just 5.4%.



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