US stock markets

Asian markets battered after Wall Street hit by poor US data

Markets in Tokyo fell more than 4 per cent. Photo: EPA

Asian markets slumped on Tuesday – led by a four per cent fall in Tokyo – following a huge sell-off on Wall Street as disappointing US manufacturing data compounded already deep fears about emerging markets.

Tuesday, 4 February, 2014, 11:52pm

Drop in consumer confidence takes toll on US stocks

The Dow Jones Industrial Average was down 0.6 per cent.

US stocks fell in midday trade yesterday, as reports showed consumer sentiment slid and industrial production was unchanged. The Dow Jones Industrial Average was down 0.6 per cent.

15 Jun 2013 - 4:11am

Investors bullish about US, Japan markets: Bloomberg poll

Japan ranked second in the May 14 Bloomberg survey of investors, analysts and traders, with one in three picking it as a market to favour. Photo: AP

More than half of those contacted said the US will be among the markets offering the best returns over the next year, a 15-point jump from the last poll in January and the highest rating for any country since the survey began asking that question in October 2009.

17 May 2013 - 4:06am

False tweet that Obama was injured raises social media doubts

The false Twitter announcement from the hacked Associated Press account that caused shares to tumble

When a false report of explosions at the White House instantly wiped more than US$136 billion off the value of US stocks, Jonathan Corpina did not need a powerful computer. He used the tool favoured by traders for more than a century: a phone. Corpina, senior managing partner with Meridian Equity Partners Inc, who works on the floor of the New York Stock Exchange, called a client two blocks from the US president's house.

25 Apr 2013 - 3:44am 1 comment

US stocks can still climb higher: analysts

Traders work on the floor of The New York Stock Exchange. The Dow Jones Industrial Average rallied to a record high to close at 14,253.77 this week, and analysts say it hasn’t peaked yet. Photo: AFP

The combination of record low interest rates and slow but steady growth mean US markets can still power higher, even after the Dow punched its way to an all-time high, analysts said.

But with the Dow Jones Industrial Average up nine per cent over the first 10 weeks of the year, few doubt there is room to pause - though Wednesday’s action showed no sign of it.

7 Mar 2013 - 10:34am

Alibaba may be considering an IPO in the US

Speculation about Alibaba's listing plans for later this year was fuelled by the decision of company founder Jack Ma to step down as chief executive on May 10. Photo: Bloomberg

Senior finance executives of Alibaba Group, which is widely expected to be planning its initial public offering this year, held a closed-door discussion with a representative of the American exchange yesterday at an undisclosed venue in Hong Kong, two people familiar with the situation said.

7 Mar 2013 - 6:12am

Clean technology equity firm cuts funding target

Clean technology private equity firm Nature Elements Capital revises down fundraising goal amid tough market conditions.

Clean technology private equity firm Nature Elements Capital has raised US$40 million for a fund but has almost halved its fundraising goal amid tough market conditions.

7 Jan 2013 - 4:31am

2012: How Wall Street got it wrong

In a year of financial mis-forecasting, Morgan Stanley predicted Standard & Poor's 500 Index would lose 7 per cent in 2012. Photo: Bloomberg

From hedge fund manager John Paulson's call for a collapse in Europe to Morgan Stanley's warning that US stocks would decline, Wall Street got little right in its prognosis for the year just ended.

5 Jan 2013 - 3:13am

US fiscal cliff deal sets off bull charge in Hong Kong, US stock markets

A monitor in a securities agency in Central shows the Hang Seng Index's closing level and gains yesterday. Photo: K.Y. Cheng

Hong Kong stocks kicked off the new year with a 19-month high in heavy trading and could open even higher today if they track the overnight US market that rallied after the Congress approved a deal to avoid a "fiscal cliff".

3 Jan 2013 - 4:36am

BRICs is now an investment theme well past its expiry date

BRICs is now an investment theme well past its expiry date. Photo: Reuters

Some 10 years after analysts at Goldman Sachs coined the acronym BRICs, tying Brazil, Russia, India and China into a single investment theme, the concept is beginning to look distinctly flakey.

That's not to say Goldman's original forecasts have been proved wrong. In fact, they turned out to be quite accurate.

8 May 2015 - 9:46am

US regulators move in on Chinese audit laws

Auditors at firms such as Ernst & Young can struggle to thoroughly audit Chinese firms due to restrictive mainland laws. Photo: Bloomberg

Regulators in the United States have potentially jeopardised the listing of more than 100 stocks from the world's most populous nation, in a move to sanction auditors for blocking investigations at companies based in China.

6 Dec 2012 - 3:16am

Over the US fiscal cliff and out of the financial woods

MPF equity funds do not benefit much from the reviving US stock market.

When Hongkongers moan about the lousy performance of their Mandatory Provident Fund schemes, they usually focus on the ruinous fees they get charged.

But while high fees have certainly weighed on MPF returns, they are not the whole story. Poor asset allocation is also to blame.

4 Dec 2012 - 4:25am 1 comment

Short-selling eases as Block loses interest

Carson Block, founder of Muddy Waters. Photo: Bloomberg

Carson Block says it's become too difficult to short Chinese equities in the US as bets on stock declines drop by 50 per cent from a year ago.

29 Nov 2012 - 3:46am

Wall Street stocks snap six-week slide

Traders work on the floor of the New York Stock Exchange. Photo: AFP

US stocks solidly snapped a six-week slide on Friday with gains topping three per cent, the best rise in five months.

In the holiday-shortened week, the Dow Jones Industrial Average jumped 3.35 per cent in four trading sessions to finish Friday at 13,009.68 points.

The tech-rich Nasdaq leaped 3.99 per cent to 2,966.85.

24 Nov 2012 - 10:42am

US stock losses hit 2% after Obama win

The Dow Jones Industrial Average was down 2.20 per cent to 12,954.19 after Obama's re-election victory.

US stock markets dived two per cent Wednesday after President Barack Obama’s re-election victory set up a tough battle with Republicans over the looming “fiscal cliff”.

After opening sharply lower, losses on the stock indices accelerated in a tsunami of red ink.

The Dow Jones Industrial Average was down 291.49 points (2.20 per cent) at 12,954.19 at 1600 GMT.

8 Nov 2012 - 12:21am