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Real-time News
On January 29th, STMicroelectronics, a European chipmaker, reported fourth-quarter sales growth as customers increased their purchases of chips for personal electronics, communication equipment, computer peripherals, and industrial machinery. However, the recovery in semiconductor demand from the automotive industry remained weak. The company reported quarterly sales of $3.33 billion, returning to year-over-year growth after several quarters of decline, representing a 0.2% increase. Despite the overall improvement, CEO Jean-Marc Chery stated that the companys automotive customer business performed below expectations, indicating that demand in this key end market remains weak. STMicroelectronics automotive customers include Tesla, Hyundai, German auto parts supplier Continental, and Israels Mobileye. For the first quarter, the company expects revenue of approximately $3.04 billion, up from $2.52 billion in the same period last year, suggesting continued improvement in sales. Gross margin is expected to be approximately 33.7%, slightly higher than 33.4% in the same period last year.German Chancellor Merz: We will never allow the deployment of German soldiers in Afghanistan to be discredited or belittled.On January 29th, major Hong Kong stock indices showed mixed performance. The Hang Seng Index fluctuated narrowly throughout the day, briefly breaking through the 28,000-point mark before retreating slightly. At the close, the Hang Seng Index rose 0.51%, while the Hang Seng Tech Index fell 1%. Total turnover for the Hang Seng Index reached HK$331.994 billion. In terms of sectors and individual stocks, the real estate sector led the gains, with China Aoyuan (03883.HK) rising 32.88%, Sunac China (01918.HK) rising over 29%, Shimao Group (00813.HK) rising over 23%, Country Garden (02007.HK) rising over 16%, and Vanke (02202.HK) rising over 8%. In addition, most insurance stocks rose today, with Ping An Insurance (02318.HK) and New China Life Insurance (01336.HK) rising over 3%. The semiconductor sector retreated today, with Hua Hong Semiconductor (01347.HK) falling more than 5% and SMIC (00981.HK) falling more than 2%.The Hang Seng Index closed up 141.18 points, or 0.51%, at 27,968.09 on Thursday, January 29; the Hang Seng Tech Index closed down 59.06 points, or 1.0%, at 5,841.1; the H-share Index closed up 40.34 points, or 0.42%, at 9,552.58; and the Red Chip Index closed up 75.87 points, or 1.73%, at 4,470.01.Hong Kong stocks closed higher, with the Hang Seng Index rising 0.51% and the Hang Seng Tech Index falling 1%. Property stocks were strong today, with China Aoyuan (03883.HK) surging over 30%, and Sunac China (01918.HK), R&F Properties (02777.HK), and Shimao Group (00813.HK) all rising over 20%.
