The Hang Seng climbed 226 points or 0.9% to end at 24,733 on Monday, snapping a four-session dip as all sectors gained. Traders looked ahead to developments on the U.S.-China trade truce, set to expire on August 12. Meanwhile, U.S. Treasury Secretary Bessent said Washington is optimistic about reaching a deal with China, following recent trade talks in Stockholm. Separately, China's top leaders pledged to support the economy and rein in "disorderly competition" during last week's Politburo meeting. Beijing also confirmed its fourth plenum will be held in October, likely focusing on the next...
Gold prices fell to around $2,670 an ounce on Wednesday (1/15), reversing gains from the previous session as investors turned cautious ahead of US consumer inflation data due later in the day. Signs of rising inflation could spur a further cautious adjustment to expectations for a Federal Reserve interest rate cut. On Tuesday, the precious metal found some support after a weaker-than-expected US PPI report sparked faint hopes that the Fed may have room for additional rate cuts this year. Meanwhile, with President-elect Donald Trump set to begin his second term next week, attention is also...
Oil prices slipped on Tuesday after a U.S. government agency forecast steady U.S. oil demand in 2025 while lifting its forecast for supply. Declines were limited by new U.S. sanctions on Russian oil exports to India and China. Brent futures fell $1.09, or 1.35%, to settle at $79.92 a barrel. U.S. West Texas Intermediate (WTI) crude finished at $77.50 a barrel, down $1.32, or 1.67%. On Monday, prices jumped 2% after the U.S. Treasury Department on Friday imposed sanctions on Gazprom Neft and Surgutneftegas as well as 183 vessels that transport oil as part of Russia's so-called shadow fleet...
Gold edged higher mid-afternoon on Tuesday as the dollar fell after a U.S. inflation measure rose less than expected last month, while a report said the Trump Administration plans to gradually introduce tariffs on U.S. imports. Gold for February delivery was last seen up US$4.70 to US$2,683.30 per ounce. The U.S. Bureau of Labor Statistics reported the Producer Price Index (PPI) rose 0.2% in December from the prior month, under expectations for a monthly rise of 0.3%, according to FactSet. The data comes ahead of Wednesday's release of the U.S. December Consumer Price Index, which is...
Gold prices rose on Tuesday, helped by a softer U.S. dollar and inflationary risks posed by President-elect Donald Trump's potential tariff policies, which could influence the pace of Federal Reserve monetary policy easing this year. Spot gold rose 0.3% to $2,669.09 per ounce as of 0932 GMT. U.S. gold futures gained 0.2% to $2,683.20. "This news led to a slight decline in U.S. Treasury yields and a weakening of the dollar." The dollar index fell 0.4% from a more than two-year high hit in the last session as traders scaled back U.S. rate cut bets for 2025 after a strong jobs report. A...
The US dollar fell Tuesday amid uncertainty over Trump's tariffs policy, but remained near two-year highs ahead of the release of the first of the week's key inflation data. At 04:15 ET (09:15 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4% lower to 109.325, after climbing to a 26-month high on Monday. The dollar slipped from its highs Tuesday following a Bloomberg report that suggested the Trump administration could take a gradual approach to tariffs. The Federal Reserve cut the number of rate cuts projected for 2025 to two at its...