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Stock impact report

Asian Stocks Mostly Up After US Tech Rally [Barron's]

HANG SENG BANK LTD S/ADR (HSNGY) 
Company Research Source: Barrons
Overnight, European stocks bounced around while US equities shook off early weakness to push higher as investors waited to see if a so-called Santa Claus rally would materialise. US "stocks didn't really have any direction in the morning, then we got this tech rally that just sort of drifted higher all day," said Steve Sosnick of Interactive Brokers. Analysts said that could help boost semiconductor-related shares, including in Tokyo, although the key Nikkei index was down 0.3 percent at the break. Hong Kong was up 0.9 percent and Shanghai gained 0.5 percent. Taipei rose 0.8 percent and Wellington was up 0.7 percent, but Seoul declined 0.2 percent. Hang Seng Bank said in a note that Hong Kong stocks were "consolidating before the long holiday". It was among several exchanges, including Sydney, closing early on Tuesday. "This is the time of the year when there's a lot of noise and little to no signal in price action," said Kyle Rodda, senior market analyst at Capital.Com c Show less Read more
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