|Day's range||28,287.34 - 28,473.55|
|52-week range||24,540.63 - 30,280.12|
US equities closed at a record high on Thursday as the series of dovish turns by central banks continued to drive the rally in global markets. The US benchmark S&P 500 finished 0.9 per cent higher at 2,954.18, besting the previous peak on April 30 by about 8 points. Jim Tierney, chief investment officer of AllianceBernstein’s concentrated US growth equities fund, said the S&P 500 record reflected the Fed’s dovish tilt ahead of the G20 meeting where the US and Chinese president will discuss a trade deal.
Signs of further stimulus from the European Central Bank and hopes for progress in the trade dispute between the US and China supported stock markets on Wednesday, with attention turning towards the Federal Reserve. Frankfurt’s Xetra Dax 30 was expected to hold steady after rising 2 per cent over the previous session, in its biggest one-day advance since January 18.
his Chinese counterpart Xi Jinping at the G20 summit later this month reignited hopes that trade talks could get back on track. Mr Trump said on Twitter on Tuesday that he had a “very good” phone conversation with Mr Xi and that their respective teams would begin talks ahead of the meeting in Osaka. Up until Mr Trump’s comments, the White House had not confirmed whether the two leaders would meet separately from the group setting.
Global shares rose Tuesday after the president of the European Central Bank said it was ready to cut interest rates and provide stimulus if the economy needed it. Traders also focused on upcoming rate decisions by the U.S. Federal Reserve and the British and Japanese central banks this week.
Wall Street drifted higher following cautious trade across global markets, as investors kept their sights on a string of central bank meetings coming later this week. Brent crude came off a two-session rally after an attack on two oil tankers near the Straits of Hormuz stoked worries about potential supply disruption.
Ping An Insurance's OneConnect financial technology unit is leaning toward picking New York over Hong Kong for its initial public offering (IPO) in the hope of achieving a higher valuation, three people with direct knowledge of the matter said. Ping An Insurance Group Co of China Ltd, China's biggest insurer by market value, had been planning a Hong Kong IPO of the unit since the beginning of the year in a deal that could raise up to $1 billion. The insurer is now seeking to list OneConnect in New York as early as in September, said one of the people, who were not authorised to speak to media and so declined to be identified.
China’s growth worries haunted global markets today but the tremors were strongest closer to the mainland, in Hong Kong.
In afternoon trading the index fell 0.7 per cent, adding to Wednesday and Thursday’s declines after the city was rocked by mass political demonstrations against a proposed bill that could see some criminal suspects extradited to mainland China for trial.
The three main U.S. stock indexes closed slightly in the red on Wednesday. Energy stocks were worst-performing sector, dragged down by slumping oil prices, while utilities rose as uncertainties drove investors to safer corners.
Hong Kong's financial markets came under pressure on Wednesday, with stocks falling and demand for cash surging, as protesters clashed with police during a mass demonstration against legislation that would allow citizens to be extradited to China. Some businesses shut and workers walked out on strike, a rarity in Hong Kong, to support the protest. The benchmark Hang Seng Index closed 1.7% lower, having lost as much as 2% in afternoon, while Chinese companies in Hong Kong ended down 1.2%.
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