The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to reduce risk in large cap stocks. Among the index's contributors, Tencent was a major drag, with its shares falling by around 2.3%, putting pressure on the technology sector, which has recently been a driving force behind market gains. Weakness in large cap companies like this typically quickly impacts sentiment due to their significant weighting in...
US stocks closed lower on Friday (July 11th) after President Trump announced a 35% tariff on Canadian imports and warned of broader global tariff increases. The S&P 500 Index fell 0.3% after hitting a record high the previous day, ending a rally fueled by investor optimism. Trump's letter to Canada raised concerns and warned of further action if retaliation follows, while he also hinted that similar action targeting the European Union would be imminent. Most sectors weakened, with healthcare and financials leading the decline, while energy and discretionary consumer goods...
European stock markets have given up some of their recent gains by tumbling on the last trading day of the week, while waiting on an expected EU tariff letter from White House. The Stoxx Europe 600 index was down 1.1%. Germany's DAX and France's CAC 40 were both lower by around 0.9%. The U.K.'s FTSE 100 lost 0.4% of its value. Some of the positive stock market moves this week came in the wake of the release of the Federal Reserve's June meeting minutes, which showed willingness by a majority of policymakers to cut interest rates this year. But according to JPMorgan Chase CEO Jamie Dimon,...
Wall Street's main indexes opened lower on Friday as President Donald Trump cranked up his tariff assault on Canada, deepening uncertainty around Washington's trade agenda. At 09:30 a.m., the Dow Jones Industrial Average opens new tab fell 215.88 points, or 0.48%, to 44,434.99, the S&P 500 (.SPX), opens new tab lost 24.52 points, or 0.39%, to 6,255.94 and the Nasdaq Composite (.IXIC), opens new tab lost 55.63 points, or 0.27%, to 20,575.04. Source: Reuters
The Hang Seng rose 111 points or 0.5% to finish at 24,140 on Friday, marking its second straight gain amid a bullish momentum in mainland stocks as hopes grew for a policy response from Beijing to address deflation risks. Weekly performance stood at 0.9%, bouncing back from previous losses. This was supported by China's new employment measures, which include increased unemployment insurance refunds and aid for firms facing labor costs. However, gains were trimmed later in the day after U.S. futures slipped sharply following President Trump's tariff threats against Europe and Canada....
Japan's Nikkei 225 Index slipped 0.19% to close at 39,569 on Friday, reversing early gains as a sharp sell-off in Fast Retailing dragged the broader market lower. Shares of the Uniqlo parent tumbled 6.9% after the company warned that recently announced US tariffs would significantly impact its US operations later this year, prompting plans to raise prices in response. The warning came days after US President Donald Trump unveiled a 25% tariff on Japanese goods, set to take effect on August 1—further straining US-Japan trade ties. In response, Prime Minister Shigeru Ishiba reiterated the...