The Hang Seng Index retreated to 24,011 on Thursday, paring back some of the gains made a day earlier. This drop mirrored developments in key markets like in the United States and South Korea. Still, the potential rotation to Hong Kong stocks may push it higher, potentially to 25,000.Rotation to…
The USD/ZAR exchange rate rose by a few pips today, July 9, as crude oil prices rose following the new strikes in the Middle East. It jumped to 16.50 on Wednesday and then pulled back a bit to 16.37. South African rand falls as geopolitical tensions riseThe South African rand softened…
Lloyds share price has pulled back over the past few days, falling from its year-to-date high of 116p to the current 112.10p. Although the stock has surged by 47% over the past 12 months, there are several reasons why it could continue rising in the foreseeable future.Analysts are optimistic about…
The KOSPI’s rebound on Wednesday showed that investors are not ready to walk away from South Korea’s chip trade, even after a bruising selloff. Samsung Electronics and SK Hynix both recovered from early losses as bargain hunters returned to memory-chip names, betting that AI demand and tight supply still support…
The Nikkei 225 Index traded sideways on July 8 as artificial intelligence (AI) stocks rebounded after Tuesday’s sharp sell-off. The index was trading at 66,800, about 7% below its highest level this year. Despite the recent weakness, it has formed a highly bullish technical pattern, signaling that a rebound could…
The Hang Seng Index staged a strong comeback today, reaching its highest level since June 18, as investors rotated towards Chinese technology companies that have been left behind in the recent rally. It jumped to 24,057, up by 6.8% from its lowest point this year.Hang Seng Index soars as tech…
Tesla stock (NASDAQ: TSLA) remained under pressure as Wall Street debated whether a future tie-up with SpaceX could reshape the company’s valuation story. TSLA closed around $402.90, down over 4% on Tuesday and was red in pre-market trading on Wednesday.The downward push came despite recent delivery data improving sentiment around…
South Korean shares fell sharply for a third consecutive session on Wednesday, with heavy losses in semiconductor stocks and growing concerns over AI-related valuations dragging the benchmark index into bear market territory.The sharp decline followed an early rebound in the session. Samsung Electronics rose as much as 1.4% during morning…
Recent price increases for Apple’s Mac and iPad devices and any potential hikes in iPhone prices are unlikely to significantly dampen consumer demand, according to JPMorgan, which has raised its price target on the iPhone maker and reiterated its Buy rating.Analyst Samik Chatterjee said several positive catalysts could help Apple’s…
Oracle has the kind of AI backlog most software companies would envy, but Wall Street is no longer rewarding backlog alone. ORCL is under pressure as investors are also focusing on customer concentration, required capital spending and the timeline for converting Oracle’s backlog into cash flow.That is why Oracle’s record…