(RTTNews) - The Hong Kong stock market has tracked lower in three straight sessions, dropping almost 1,650 points or 6.5 percent along the way. The Hang Seng Index now rests just above the 24,380-point plateau and it's tipped to open in the green on Tuesday. The global forecast for the Asian markets is upbeat as tensions in the Middle East take a slight breather. The European markets were mixed an...
(RTTNews) - The Hong Kong stock market has tracked lower in three straight sessions, dropping almost 1,650 points or 6.5 percent along the way. The Hang Seng Index now rests just above the 24,380-point plateau and it's tipped to open in the green on Tuesday. The global forecast for the Asian markets is upbeat as tensions in the Middle East take a slight breather. The European markets were mixed and the U.S. bourses were up and the Asian markets are expected to follow the latter lead. The Hang Seng finished sharply lower on Monday with damage across the board, especially among the technology stocks, financial shares and properties. For the day, the index cratered 894.85 points or 3.54 percent to finish at 24,382.47 after trading between 24,203.54 and 24,789.14. Among the actives, Alibaba Group lost 3.23 percent, while Alibaba Health Info skidded 3.49 percent, ANTA Sports gave up 1.57 percent, China Life Insurance plummeted 7.60 percent, China Mengniu Dairy tanked 4.32 percent, China Resources Land slipped 3.00 percent, CITIC was down 2.43 percent, CNOOC added 0.39 percent, CSPC Pharmaceutical cratered 6.02 percent, Galaxy Entertainment contracted 3.63 percent, Haier Smart Home and Lenovo both tumbled 4.11 percent, Hang Lung Properties crashed 4.39 percent, Henderson Land declined 3.66 percent, Hong Kong & China Gas slumped 3.54 percent, Industrial and Commercial Bank of China dropped 3.48 percent, JD.com fell 3.22 percent, Li Auto dipped 2.99 percent, Li Ning slid 1.68 percent, Meituan shed 3.28 percent, New World Development plunged 6.32 percent, Nongfu Spring retreated 3.75 percent, Techtronic Industries stumbled 4.29 percent, Xiaomi Corporation sank 3.43 percent and WuXi Biologics surrendered 4.20 percent. The lead from Wall Street is broadly positive as the major averages opened higher on Monday and remained firmly in the green throughout the trading day. The Dow surged 631.00 points or 1.38 percent to finish at 46,208.47, while the NASDAQ spiked 299.15 points or...
Although the Home Builders Federation (HBF) said the additional cost that developers now face from the changes was "not welcome at any time", it said the industry had been given a lot of forewarning.
Although the Home Builders Federation (HBF) said the additional cost that developers now face from the changes was "not welcome at any time", it said the industry had been given a lot of forewarning.
Major U.S. indexes closed higher Monday, with the Dow Jones Industrial Average rising 1.38% to 46,208.47, the S&P 500 gaining 1.15% to 6,581, and the Nasdaq advancing 1.38% to 21,946.76. These are the top stocks that gained the attention of retail traders and investors through the day: Palantir Technologies Inc. (NASDAQ:PLTR) Palantir’s stock closed up 6.78% at $160.90, reaching an intraday high o...
Major U.S. indexes closed higher Monday, with the Dow Jones Industrial Average rising 1.38% to 46,208.47, the S&P 500 gaining 1.15% to 6,581, and the Nasdaq advancing 1.38% to 21,946.76. These are the top stocks that gained the attention of retail traders and investors through the day: Palantir Technologies Inc. (NASDAQ:PLTR) Palantir’s stock closed up 6.78% at $160.90, reaching an intraday high of $161.08 and a low of $153.24. The stock is trading closer to its 52-week high of $207.52 than its low of $66.12. Palantir shares rose on Monday, supported by easing geopolitical tensions after Donald Trump signaled a pause in military action, alongside news that the Pentagon will formally adopt Palantir's Maven AI system, securing long-term funding. The stock also showed improving technical momentum, with shares up over 63% in the past year, as investors position ahead of the upcoming May earnings report. Urban-gro’s stock surged 182.11% to close at $6.15, with an intraday high of $7.23 and a low of $3.06. The stock’s 52-week high is $19.76, and its low is $2.02. In the after-hours trading, the stock shot up 35.61% to $8.34. The company’s shares surged after Innovative Production Group completed its all-stock merger with Flash Sports & Media, bringing T20 cricket league rights — including the Lanka Premier League — onto the Nasdaq-listed platform. The deal creates a publicly traded vehicle to scale cricket media and commercial rights across markets like Bangladesh and the United Arab Emirates, while centralizing sponsorships and broadcast monetization. QuantumScape Corporation (NASDAQ:QS) QuantumScape’s shares rose 6.98% to $7.05, with a high of $7.12 and a low of $6.69. The stock’s 52-week high is $19.07, and its low is $3.40. The stock gained momentum as the broader market improved, with auto-related stocks benefiting from a sharp drop in energy costs. The Estée Lauder Companies Inc. (NYSE:EL) Estée Lauder’s stock fell 7.72% to $79.29, with an intraday high of $91.06 an...
Hong Kong police can now demand that people suspected of breaching the city’s national security law provide mobile phone or computer passwords in a further crackdown on dissent. The new amendments to the law also empower customs officers to seize items that are deemed to have “seditious intention”, regardless of whether any person has been arrested for an offence endangering national security beca...
Hong Kong police can now demand that people suspected of breaching the city’s national security law provide mobile phone or computer passwords in a further crackdown on dissent. The new amendments to the law also empower customs officers to seize items that are deemed to have “seditious intention”, regardless of whether any person has been arrested for an offence endangering national security because of the items. Refusing to comply could lead to up to one year’s jail and a fine of up to HK$100,000 ($12,773) while providing false or misleading information could bring up to three years’ imprisonment and a fine of up to HK$500,000. The city government on Monday gazetted the new amendments to the national security law imposed by Beijing in 2020, using powers to bypass Hong Kong’s legislature. Officials will brief lawmakers on Tuesday, a government statement said. The sweeping law punishes acts, including subversion and collusion with foreign forces, with up to life imprisonment. The law sparked criticism from western governments and rights groups but Beijing and Hong Kong officials said it was needed to restore stability after the city was rocked by months of pro-democracy protests in 2019. The new amendments empower police to require a person under investigation suspected of endangering national security to provide any password or decryption method for electronic devices and to provide the police “any reasonable and necessary information or assistance”. Urania Chiu, a law lecturer in the UK researching Hong Kong, said the new provisions interfered with fundamental liberties, including the privacy of communication and the right to a fair trial. “The sweeping powers given to law enforcement officers without any need for judicial authorisation are grossly disproportionate to any legitimate aim the bylaw purports to achieve,” Chiu said. A Hong Kong government spokesperson said the amended rules conformed to the city’s mini-constitution, the Basic Law, and its human rights...
RogerAlanLee/iStock via Getty Images Intro In December , I argued that Preformed Line Products ( PLPC ) was positioned as a massive beneficiary of two massive trends: the modernization of the aging U.S. electrical grid and the aggressive power demands of the AI data center buildout. Our thesis rested on three main pillars. First, the 2,500+ GW interconnection queue would guarantee long-term demand...
RogerAlanLee/iStock via Getty Images Intro In December , I argued that Preformed Line Products ( PLPC ) was positioned as a massive beneficiary of two massive trends: the modernization of the aging U.S. electrical grid and the aggressive power demands of the AI data center buildout. Our thesis rested on three main pillars. First, the 2,500+ GW interconnection queue would guarantee long-term demand for the company's electrical transmission components and reconductoring products. Second, management's implementation of price hikes would offset tariff-induced material costs, creating a "coiled spring" for margins and valuation. Finally, the company's tightly held, low-float mechanics could act as an accelerant for quick appreciation once the broader market recognizes this inflection point in the business. The core thesis remains intact. The top-line data validated our thesis about rising demand as Q4 net sales grew 4% YoY, with the total order backlog surging an impressive 22%. On the margin side, Q4 gross margins compressed to 29.8%, in line with our expectations that Q3/Q4 would be the period when peak pain from tariff pressure is felt, before re-priced orders begin flowing through the backlog. The Q4 print puts us right on schedule for this coiled spring effect to begin unraveling. Recent Quarterly Performance PLPC reported Q4 FY2025 net sales of $173.1M (+4% YoY). For the full year of FY2025, net sales grew 13% to $669.3M, with all segments increasing YoY, driven by higher volume in energy/communications end-markets. This is exactly the broad-based acceleration in demand we anticipated, and it is consistently showing up across all business segments. The headline growth figure for this quarter may seem unimpressive, but the backlog tells a completely different story. PLPC's backlog increased 22% to $232.8M, showing the strong demand in its core markets. This is a direct, forward-looking signal that customers are committing capital to projects that require PLPC's prod...