An hour ago
Zee Entertainment shares slide over 10% after $240 million cash issue
3 hours ago
HSBC's annual pre-tax profit rises 78%, below market estimates
HSBC reported on Wednesday that full-year 2023 pretax profit rose about 78% from a year ago to $30.3 billion, missing the average estimates of $34.06 billion from analysts tracked by LSEG .
Hong Kong shares reversed gains, falling more than 2%, while the Hang Seng index rose 3%. The bank's shares have gained about 0.5% so far this year, after rising 23% in 2023, while the Hang Seng index lost 14%.
The price was most recently down 2.55%.
– Clement Tan, Lee Ying Shan
6 hours ago
The Hang Seng index rises 2%, driven by pharmaceuticals, technology and real estate stocks
Hong Kong's Hang Seng Index rose 2.36% in morning trade, buoyed by a mix of healthcare, materials and technology stocks.
Leading the index gains were pharmaceutical companies WuXi AppTec, up 6.85%, and WuXi Biologics, up 5.92%.
Manufacturing company Techtronic Industries rose 4.63%, while real estate company Longfor Properties rose 5%.
Other index heavyweights are in the green. Meituan rose 5.72%, while Ping An and Hong Kong-listed JD.com rose 3.41% and 3.22%, respectively.
The Hang Seng Tech Index, which tracks the 30 largest technology companies listed in Hong Kong, rose 3.12%.
–Lee Ying Shan
7 hours ago
Australia's annual wages are rising at their fastest pace in 15 years
According to the Australian Bureau of Statistics Wage Price Index, annual wage growth in Australia rose gradually to 4.2%, the fastest annual pace in 15 years.
On a quarterly basis, Australian wages rose 0.9% in the December 2023 quarter, largely driven by the education and training sector and the health and social assistance industry, government data showed. The figure was in line with expectations from analysts polled by Portal.
“In this quarter, the public sector made a significantly higher contribution to growth,” the report said.
–Lee Ying Shan
8 hours ago
Japan's exports rose 11.9% year-on-year in January
Japan's exports rose 11.9% year-on-year in January, according to official data.
The figure beat Portal estimates of a 9.5% rise. The country's imports fell by 9.6%, compared to a forecast decline of 8.4%.
Japan posted a trade deficit of 1.758 trillion yen ($11.73 billion), compared with a surplus of 68.9 billion yen in December.
–Lee Ying Shan
7 hours ago
CNBC Pro: Want a stable, passive income? Buy These Dividend Stocks With Higher Yields, Says Wall Street
Dividend stocks are often attractive to investors seeking stable income and long-term growth.
Wall Street and other pros offer tips on how to choose good dividend stocks and which names generate sustainable income.
According to BofA, some of these names are expected to deliver higher returns than cash.
CNBC Pro subscribers can read more here.
– Weizhen Tan
9 hours ago
Sentiment at major Japanese companies worsens in February: Portal Tankan survey
Business sentiment among major Japanese companies deteriorated in February, according to Portal' monthly Tankan survey. The data is fueling fears of further economic weakness in Japan after data last week showed the economy slipped into a technical recession.
The industrial sentiment index was -1, compared to +6 in January. Separately, the survey also found the services sector index at +26, compared to +29 in January. A negative value means that there are more pessimists than optimists in the industry and vice versa.
“The loss of business confidence raises concerns that Japanese companies may be reluctant to raise wages enough to achieve stable and sustainable inflation in a country that has been mired in a deflationary mindset for more than a decade,” Portal reported.
The monthly Portal survey is considered a leading indicator of the Bank of Japan's official survey.
–Lee Ying Shan
7 hours ago
CNBC Pro: “Good Time to Invest in Real Estate”: Pros Name 5 REITs to Play Now
Rising inflation and rising interest rates have put significant pressure on several sectors – particularly real estate. However, some market observers believe that the situation could soon change.
“I think it would be a good time to invest in real estate, especially given that we are forecasting a decline in interest rates over the next 12 months,” said Kevin Brown, senior equity analyst at financial services firm Morningstar.
Brown joins Rick Romano of PGIM Real Estate to reveal their best REITs to buy right now.
CNBC Pro subscribers can read more here.
—Amala Balakrishner
11 hours ago
Stocks close lower on Tuesday
Here's how the major indices concluded:
—Pia Singh
13 hours ago
U.S. crude oil is down more than 1% after hitting a three-month high last week
An aerial view of the Phillips 66 oil refinery is seen in Linden, New Jersey, USA.
Tayfun Cosku | Anadolu Agency | Getty Images
U.S. crude oil futures fell on Tuesday after hitting a three-month high last week as conflict raged on in the Middle East.
The March West Texas Intermediate contract fell $1.01, or 1.28%, to close at $78.18 a barrel. The April Brent contract fell $1.22, or 1.46%, to $82.34 a barrel. There was no WTI agreement on Monday due to the President's Day holiday.
U.S. crude oil rose 3% last week to hit $79.19 a barrel on Friday, its highest price since Nov. 6. The global benchmark rose 1.5% this week, hitting its highest price since January 26.
Robert Thummel, senior portfolio manager at Tortoise Capital, said prices likely declined on Tuesday, in part as traders took profits after WTI posted a solid rise so far this month.
Crude oil futures rose last week amid conflict in the Middle East after Israel launched attacks in Lebanon and vowed to continue its offensive in Gaza against the southern city of Rafah.
Houthi fighters attacked another cargo ship in the Bab el-Mandeb Strait on Monday, forcing the crew to abandon the vessel. The Iran-aligned militants claimed they caused “catastrophic damage” to the ship.
–Spencer Kimball