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China markets rise as upbeat holiday travel data boosts tourism stocks; Hong Kong shares fall – CNBC

1 hour ago

Chinese travel stocks rise as holiday tourist numbers surpass pre-pandemic levels

The China Travel Stock Index rose 2.1% in early trading on Monday, its highest level since January 30.

Shanghai-listed Air China rose 1.2%, China Southern Airlines rose 1.7% and Hong Kong-listed Chinese online tourism services group Dongcheng Travel rose 1.5%.

Toledo Holdings’ Shenzhen-listed shares rose 4%, and Western Region Tourism Development rose 2.4%.

China’s travel activity and spending during the Lunar New Year holiday exceeded pre-pandemic levels, according to official data.

Approximately 474 million people traveled domestically during the eight-day festival, an increase of 34.3% from the previous year. According to the data published by country’s Ministry of Culture and Tourism on Sunday.

According to the data, tourists spent nearly 632.7 billion yuan ($87.95 billion) on domestic holiday travel, an increase of 47.3% year-on-year. Both metrics were above his 2019 levels.

The broader CSI300 index rose 0.6%.

— Shreyashi Sanyal

2 hours ago

Nintendo stock falls due to unconfirmed reports regarding Switch 2 release delay

Japan-based video game company Nintendo’s stock price fell more than 6% in June 2018. Unverified report The release of the next game console may be delayed to early next year.

Nintendo initially aimed to release a successor to its Switch game console by the end of 2024, but the company did not immediately respond to CNBC’s request for comment.

See chart…

Nintendo stock slide

4 hours ago

CNBC Pro: These are the only two ETFs that have made money every year for the past 10 years

According to research by CNBC Pro, only two exchange-traded funds around the world that invest in defensive stocks have posted positive returns every year over the past 10 years.

These two funds stood out among 8,300 equity ETFs from around the world reviewed by CNBC Pro. Both funds have more than doubled investors’ cash over the past decade.

CNBC Pro subscribers can read more here.

— Ganesh Rao

4 hours ago

CNBC Pro: ‘Good year’ for stocks: Morgan Stanley’s Slimmon names three stocks to buy right now

The stock market has been very strong so far, with the S&P 500 index closing above 5,000 for the first time last week.

“I think this is very encouraging, because it means that earnings expectations for this year are not going to go down, they could possibly go up, and that’s important to the market,” said Andrew, Managing Director and Senior Portfolio Manager.・Mr. Slimmon said. Morgan Stanley Investment Management told CNBC.

This year will be a “good year for stocks,” Slimmon said, naming three of his favorite stocks.

CNBC Pro subscribers can read more here.

— Amara Balakrishna

Friday, February 16, 2024 4:08pm EST

Stocks fall, ending five-week winning streak

All three major indexes ended in the red on Friday, ending a five-week winning streak.

The S&P 500 fell 0.48% to end at 5,005.57. The Dow Jones Industrial Average fell 145.13 points, or 0.37%, to settle at $38,627.99. The Nasdaq Composite Index fell 0.82% to end at 15,775.65.

— Lisa Kailai Han

Friday, February 16, 2024 11:53 a.m. EST

Consumer sentiment, inflation outlook stable in February, survey finds

Consumer confidence and inflation expectations remained little changed in 2019 Latest research from University of MichiganRespondents weighed various indicators of stock market volatility and prices.

The sentiment index in February was 79.6, up just 0.6 points from January and just shy of the Dow Jones forecast of 80.

Regarding inflation expectations, the one-year outlook gradually rose by a tenth of a point to 3% on a monthly basis, while the five-year outlook remained unchanged at 2.9%. Both rates are above the Federal Reserve’s 2% target, but they continue to show signs of easing. In contrast, the 1-year forecast a year ago was 4.2%.

“The fact that sentiment hasn’t collapsed at all this month suggests that consumers continue to feel more secure about the economy, and in December and January, “We have seen significant improvements in various aspects of the economy.”

—Jeff Cox

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