Stocks soar in Hong Kong while Middle East tensions sober Japan and Europe
Hong Kong shares roared higher while Japan dropped and Europe wobbled a day after Iran fired scores of missiles into Israel.
Hong Kong shares roared higher while Japan dropped and Europe wobbled a day after Iran fired scores of missiles into Israel. China’s markets remained closed for Golden Week holidays.
- S&P 500 Futures: 5,742.00 ⬇️ down 0.30%
- S&P 500: 5,708.75 ⬇️ down 0.93%
- Nasdaq Composite: 17,910.36 ⬇️ down 1.93%
- Dow Jones Industrial Average: 42,156.97 ⬇️ down 0.41%
- STOXX Europe 600: 521.56 ⬆️ up 0.13%
- Hang Seng Index: 22,443.73 ⬆️ up 6.20%
- Nikkei 225: 37,808.76 ⬇️ down 2.18%
- Bitcoin: $61,854.00 ⬆️ up 1.85%
China: Hong Kong soars as Beijing’s housing policy support buoys homebuilders
With mainland China markets closed, Hong Kong took the spotlight, soaring 6.2% on optimism over new measures from Beijing aimed at propping up the beleaguered ailing property sector and helping financial markets. Property stocks Longfor, Hang Lung Properties and China Overseas Land & Investment all gained more than 15% on the day.
Japan: Markets fall again on oil price worries
The Nikkei 225 continued its yo-yo week, dropping 2.18% a day after rising 1.93%. Nerves about a Middle East conflict that could cause a spike in oil prices for this energy import-reliant nation outweighed the positive economic indicators that helped the market rise Tuesday.
Europe: Indexes rise slightly as investors digest Middle East tentions
European stocks notched modest gains, with the STOXX Europe 600 rising 0.13% and the U.K. FTSE 100 added 0.18% in early trading. With oil prices rising on Middle East tensions, defense and energy stocks such as Leonardo, Equinor, BAE, Shell and Total were some of the biggest gainers. Airlines that saw flights affected by the Iran-Israel conflict fell.
U.S. pre-market trading slides on Middle East, Nike
All three U.S. indexes skid in pre-market trading Wednesday, as investors digested Iran’s attack on Israel and punished Nike for the drop in quarterly revenue and sales it reported after the bell. Investors are also awaiting Tesla’s update on quarterly vehicle production and deliveries, expected today.
The Dow, Nasdaq, and S&P 500 slump on Iran attack
On Tuesday, the Dow dropped 0.41% while the S&P 500 slid 0.93% and the tech-heavy Nasdaq lost 1.93%, following news that Iran launched a ballistic missile attack on Israel. Despite some good news that August saw more job openings than economists expected, the Middle East conflict combined with a massive $7.5 billion weekly estimated price tag on the longshoremen strike chilled markets.
