Hong Kong stocks retreat as Xpeng leads EV stocks lower, U.S.-China talks kick off
Publishing timestamp: 2023-11-16 08:58:34
Summary
Hong Kong stocks, led by Xpeng, declined as the company reported wider quarterly losses. High-level discussions between the US and China were also being digested. South Korea stock markets opened later than usual due to college entrance exams. Japan's Nikkei 225 and Topix, as well as mainland China's CSI 300, also fell. In Australia, the S&P/ASX 200 dropped. US stocks climbed on encouraging inflation data. UBS highlighted stock ideas for 2024, predicting interest rate cuts. The US and China agreed to resume high-level military communication. Morgan Stanley predicts a 10% jump in shares of a tech giant. Oil prices settled lower due to rising US inventories and record production. Jay Hatfield believes the US economy could avoid a recession in 2024. Investors are anticipating a dovish pivot from the Federal Reserve next year.
Sentiment: NEGATIVE
Tickers: .SSEC, 2015-HK, BABA, @CL.1, .DXY, .HSI, .N225, AUD=, .SZI, @LCO.1, .KS11, TSLA, .AXJO, NIO, JPY=, 9868-HK, LI, ZE594-CN, 1810-HK,
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