The Hang Seng rose 36 points or 0.2% to end at 22,008 on Tuesday, mainly helped by strength in tech and financials after a muted prior session. Markets trimmed early gains, amid caution ahead of April's official PMI data in China that will be due Wednesday. Investors continued to await more clarity on U.S. tariff plans and their potential impact on China. Beijing Monday held off on new stimulus but reiterated support for exporters and workers affected by U.S. tariffs and said contingency plans for the economy are in place. Meantime, mainland markets will be closed from May 1 for a 5-day...
US stocks were muted on Tuesday as markets assessed the latest earnings and the risks that tariffs and uncertain economic policy may have on corporate returns. The three main averages were close to the flatline. Trade and economic policy uncertainty drove UPS to refrain from giving a full-year outlook, pressuring their shares by 2%. Also, while GM sank 4% after it cancelled its share buyback and pulled its outlook due to the possibility of tariffs. Additionally, Amazon fell by 1% after stating it will list the additional surcharge on its goods due to tariffs, driving White House officials...
European markets closed higher on Tuesday after investors pored over a raft of earnings for indications of the impact of U.S. tariffs and global economic uncertainty. The Stoxx 600 index closed 0.4% higher, with utilities and health care leading gains. Regionally, the FTSE 100 closed up 0.6% — its 12th straight day of gains and its best gain in at least five years. France's CAC 40 and Germany's DAX rose 0.1% and 0.8%, respectively. Volvo Cars shares fell 10% after the automaker reported a sharp drop in first-quarter profit and suspended its full-year guidance due to market headwinds....