Share Market Today: Live Updates

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an hour ago

European shares opened with a decline

European stocks were slightly lower early Tuesday, with the pan-European Stoxx 600 index down 0.15% at 8:20 a.m. in London.

Major markets were in the red with Germany’s DAX down 0.4% and France’s CAC 40 down 0.25%. The UK’s FTSE 100 declined 0.08%.

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Stoxx 600 Index.

an hour ago

Hong Kong’s monetary authority is considering deepening some connectivity plans with China

Hong Kong’s Monetary Authority is reportedly considering deepening some investment connection plans between the city and mainland China.

Speaking at the HSBC Global Investment Summit in Hong Kong, HKMA Chief Executive Eddie Yu said there is potential for more “southbound” activity in Hong Kong, according to a Reuters report.

Yu said at the HSBC Global Investment Summit in Hong Kong that there is potential for more “southbound” activity from Chinese investors in Hong Kong’s financial markets.

So-called northbound trading in connect schemes allows offshore investors to buy China-listed products through Hong Kong, while southbound trading is designed for China-based investors to buy Hong Kong products.

– Reuters

6 hours ago

Shilla Hotels CEO reportedly sold $326 million worth of Samsung shares to cover inheritance tax

Lee Boo Jin, CEO of South Korean hotel group Shilla Hotels, has sold about 5.2 million shares of electronics giant Samsung Electronics in a block sale worth $326 million, each priced at 84,100 won, according to Reuters.

A block sale is a large securities transaction at a negotiated price that minimizes or minimizes the effect of the sale on the price of a publicly traded stock.

South Korean media reported that the sale was to cover inheritance tax liabilities following the death of former Samsung Chairman Lee Kun-hee.

The younger Lee is the eldest daughter of the late Lee Kun-hee, and also the younger sister of Samsung Electronics Executive Chairman Lee Jae-yong.

– Lim Hui Ji, Reuters

7 hours ago

Hyundai, Kia partner with India’s Exide Energy to produce EV batteries in India

South Korean automakers Hyundai and Kia have signed an MoU with Indian battery company Exide Energy for strategic cooperation in India’s EV market.

Exide said the two parties will work together to develop, produce and supply battery cells for Hyundai Motor’s electric vehicles in the Indian market.

Hyundai said the move will position the company and Kia as “pioneers in employing domestically produced batteries” in their upcoming EV models in the Indian market.

Hyundai shares were down 0.55% on Tuesday, while Kia shares rose 0.65%.

– Lim Hui Ji

8 hours ago

US to award Samsung up to $6.6 billion for Texas expansion: Reuters

The US government plans to give South Korea’s Samsung Electronics a $6.6 billion subsidy to expand its chip production in Texas, according to a Reuters report.

The report said the subsidies will go toward building four facilities in Taylor, including a $17 billion chipmaking plant that Samsung announced in 2021.

According to the report, the subsidy will also be for investment in an undisclosed location and as part of the deal Samsung will more than double its investment in the US to more than $44 billion.

Samsung shares remained mostly flat on Tuesday.

– Lim Hui Ji, Reuters

9 hours ago

Real estate sector performance remains sluggish any day

The S&P 500 ended Monday down a modest 0.04%, but the real estate sector outperformed.

Apartment real estate investment trusts were the strongest names in the sector, with Camden Property Trust rising 5.7%. The stock recorded its best session since November 2022.

9 hours ago

Gold futures extend 2024 bullishness by 13.5%, touch intraday record of $2372.50/oz

June gold futures touched an intraday record of $2372.50 an ounce before closing at a new record of $2351.00, the 15th close of the year.

Gold extended its year-to-date rally to 13.5%, although gold bugs will remember that on an inflation-adjusted basis, gold’s all-time high was $3460.77 in January, 1980 when Jimmy Carter was president. Was.

Silver futures are up 15.5% so far in 2024, while copper futures are up 9.9%. Aluminum is only 3% ahead in 2024, but still hit its highest level since February 2023 on Monday. Similarly, tin reached its highest since January 2023 on Monday, but is up 18% in 2024.

All those moves paled in comparison to the rocket ship called cocoa, which hit an all-time high of $10,443 per metric ton on Monday – taking its 2024 rally to 131.5%.

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July cocoa futures in 2024.

-Scott Schnipper, Gina Francola

10 hours ago

Stock futures opened with little change

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