The S&P 500 remains on track to close out November as its best month of the year. The Dow Jones Industrial Average also edged 0.2% lower, to 35,333.47, and the Nasdaq composite slipped 0.1% to 14,241.02. Grizzly also has taken aim at other major Chinese tech companies, including online clothing retailer Temu.Įlsewhere, South Korea’s Kospi jumped 0.8% to 2,514.45 and the Shanghai Composite index edged 0.1% higher, to 3,034.80.Īustralia’s S&P/ASX 200 added 0.3% to 7,011.10 and India’s Sensex was up just 18 points at 65,980.48. In a notice to the Hong Kong Stock Exchange, Sensetime said the allegations were “without merit” and showed a lack of understanding of the company’s business and its financial reporting. Sensetime’s shares sank 5.6%, having fallen as much as 9%, after Grizzly Research accused the artificial intelligence software company of inflating its revenue figures. The Hang Seng in Hong Kong slipped 0.6% to 17,419.42. new home sales slowed more than expected in October, “The Conference Board’s consumer confidence survey could well show a deterioration in mood,” Robert Carnell and Min Joo Kang of ING Economics said in a commentary. economy is slowing, and that conditions in China remain uncertain are weighing on sentiment, analysts said.Īfter U.S. Meanwhile, the broader economy has remained strong enough in the face of rising interest rates and inflation to avoid a recession. Investors have grown cautiously optimistic that inflation has cooled enough for the Federal Reserve to put a definitive end to its aggressive interest rate hikes. Economists expect that measure to continue easing, as it has been since the middle of 2022. On Thursday, Wall Street will be closely watching the government’s October data on the Federal Reserve’s preferred measure of inflation. Economists polled by FactSet expect another solid reading for the October report. On Tuesday the Conference Board will issue its latest report on consumer confidence, which has remained solid throughout the year. Tokyo and Hong Kong fell while Shanghai, Seoul and Sydney gained. Business & Finance Click to expand menu.īANGKOK (AP) - Shares were mixed in Asia on Tuesday after Wall Street benchmarks edged lower as investors waited for updates on inflation and how American consumers are feeling about the economy.
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