London, England – European stocks opened lower early Tuesday, with the pan-European Stoxx 600 index down by 0.15% at 8:20 a.m. local time. Germany’s DAX was down 0.4%, France’s CAC 40 lower by 0.25%, and the U.K.’s FTSE 100 nudged 0.08% lower.
Hong Kong’s monetary authority is reportedly considering deepening some of the investment connection schemes between the city and mainland China. At the HSBC Global Investment Summit, HKMA Chief Executive Eddie Yue mentioned the potential for greater “southbound” activity into Hong Kong’s financial markets.
Lee Boo Jin, CEO of South Korean hotel group Shilla Hotels, sold about 5.2 million shares of Samsung Electronics in a $326 million block sale to cover inheritance tax liabilities. The sale was reported to be in response to the death of former Samsung chairman Lee Kun-hee.
Hyundai and Kia have signed a memorandum of understanding with Indian battery company Exide Energy for strategic co-operation in India’s EV market. This collaboration will focus on the development, production, and supply of battery cells for Hyundai Motor’s electric vehicles in India.
The U.S. government plans to offer $6.6 billion in subsidies to South Korea’s Samsung Electronics for expanding its chip output in Texas. Samsung will more than double its investment in the U.S. to over $44 billion as part of the deal.
The S&P 500 ended Monday with a slight decline, but the real estate sector outperformed. Apartment real estate investment trusts, like Camden Property Trust, saw significant gains in the sector.
Gold futures extended their rally to 13.5%, touching an intraday record of $2372.50/ounce. Silver and copper futures also saw increases in 2024, while cocoa reached an all-time high of $10,443 per metric tonne.
Overall, the global market landscape continues to see fluctuations as various sectors and industries navigate through economic challenges and opportunities. Investors and analysts closely monitor these developments for potential investment strategies and market insights.