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Hong Kong Shares Rise 1.0%, Tracking Wall Street Gains -- Market Talk
Hong Kong's benchmark Hang Seng Index rises 1.0% to 17653.69 in early trade, tracking Wall Street gains overnight.
Top Gap Ups and Downs on Wednesday: MA, INTU, HDB and More
Gaps can show signals that something important has happened to the fundamental or the psychology of traders that accompanies this market movement.
Sensor Tower: Tencent (00700) Dungeon and Warriors: Origin topped the global mobile game sales list in June.
According to Sensor Tower Store Intelligence Platform, in June 2024, a total of 37 Chinese companies made it to the TOP100 global mobile game publishers revenue list, with a total revenue of 1.92 billion USD, accounting for 37% of the revenue of TOP100 global mobile game publishers in this quarter.
US stocks hit new highs, with Nvidia up 4.4% leading the technology stocks, Tesla rising for ten consecutive days, and Apple having the highest market cap.
The Nasdaq and S&P 500 large caps hit a new intraday high again, while the Dow Jones weakened; the US stock market's "Seven Sisters" rose except Microsoft, with Nvidia leading the gains, up nearly 4.4%, while Tesla rose more than 2% for ten consecutive days; Apple rose more than 0.6% and still has the highest market cap; chip stocks generally gave back more than half of their gains after rising, Arm Holdings and KLA Corp hit new intraday highs again; Chinese concept stocks index rose.
Why Do Chinese Stocks Keep Faltering?
BofA Securities China Equity Strategist Winnie Wu says that's due to a combination of factors, including pressures on China's economy and company earnings, as well as a tense geopolitical environment. She says investors should trim SOE holdings and add quality beta stocks.
US stocks hit new highs, with Apple's market cap surpassing Microsoft's, Tesla rising for the ninth consecutive day, silver futures falling by 3% at one point, and French stocks opening high and falling low.
Waiting for this week's US CPI and PPI inflation and Powell's congressional hearing. The New York Fed survey found that Americans' inflation expectations have fallen for two consecutive months, and the market is still betting on two interest rate cuts later this year. The S&P and Nasdaq have hit new highs for at least four days in a row, and Apple's market cap has surpassed Microsoft to become the largest company. Nvidia's increase has been cut in half after a nearly 4% increase, and TSMC briefly rose more than 4.8% in market cap, breaking the $1 trillion barrier. AI concept stocks such as Arm and Oracle also hit new highs and Intel and Super Micro Computer rose more than 6%. The Chinese concept stock index fell 1%, Xpeng Motors fell more than 6%, and Niu Technologies rose 16%. The second round of the French parliament elections unexpectedly ended without any political party obtaining an absolute majority, and European stocks rose but fell in the final session. The euro and French bond yields also opened high