6 hours ago
Country Garden announces suspension of trading
Country Garden Holdings announced on Tuesday that trading of its shares on the Hong Kong Stock Exchange will be suspended.
The trading suspension will take effect from 9 a.m. Hong Kong time on April 2, the statement said.
The embattled Chinese real estate developer announced Thursday that its 2023 financial results will be delayed.
Shares of Hong Kong-listed companies have fallen nearly 38% so far this year.
— Shreyashi Sanyal
6 hours ago
Australian gold miners surge after bullion hits record high
Shares in Australian gold miners rose as the market reopened after the holidays, with giant Newmont Corp leading the sector's gains, rising more than 5%.
Newmont is currently the second largest gold mining company by market capitalization on the Australian Stock Exchange.
Northern Star Resources, the Australian Stock Exchange's biggest gold miner by market capitalization, also rose about 2.21%.
The increase came after gold prices hit a new record on Thursday, reaching an all-time high of $2,286.4.
— Lim Huijie
6 hours ago
Reserve Bank of Australia moves to new system for implementing monetary policy
A man walks outside the Reserve Bank of Australia in Sydney's central business district on June 7, 2022.
Muhammad Farooq | AFP | Getty Images
Australia's central bank will switch to a new system for conducting monetary policy, Christopher Kent said. The Deputy Governor of the Reserve Bank of Australia said this in a speech on Tuesday.
Mr Kent said the RBA, along with the Bank of England, the European Central Bank and the Riksbank, supported the option of moving to a deep reserve regime with full quota repurchase agreement tenders for open market operations.
“I would like to emphasize that this decision has no impact on the current or future stance of monetary policy,” he said, adding that it would not affect how the RBA responds to current quantitative tightening.
— Shreyashi Sanyal
8 hours ago
8 of 11 S&P 500 sectors ended lower on Monday.
Eight of the S&P 500's 11 sectors ended Monday's session lower.
Real estate was the worst performer, with its worst single-day performance since February 13, when it fell 1.8%. The best-performing sector was communications services, which rose 1.5%.
Despite Monday's decline, all 11 sectors are still trading within 10% of their 52-week highs.
— Lisa Kailai Han, Christopher Hayes
9 hours ago
Health insurance stocks fell on Monday night.
Health insurance stocks fell during extended trading Monday. The move comes after the Centers for Medicare and Medicaid Services finalized Medicare Advantage capitation rates for the 2025 calendar year.
Government payments to Medicare plans are expected to increase by an average of 3.7%, or more than $16 billion, next year. The final rate of 3.7% was unchanged from the 3.7% proposed rate in January, disappointing analysts who had expected an improvement of 50 to 100 basis points.
Humana stock fell 9%, and UnitedHealth Group and CVS Health both fell 5%. Elevance Health and Cigna Group fell 4% and 2%, respectively.
— Lisa Kailai Han
9 hours ago
S&P 500 futures trading little changed
On Monday night, S&P 500 futures flickered near the flatline.
Nasdaq 100 futures were trading down less than 0.1%. Meanwhile, Dow futures fell 113 points, or 0.3%, due to a decline in health insurance stocks.
— Lisa Kailai Han
