European stocks dipped on Monday, snapping a five-week winning streak, as a surprise U.S. credit rating downgrade and weak economic data from China weighed on investor sentiment. The pan-European STOXX 600 index was down 0.5% by 0725 GMT, retreating from seven-week highs touched on Friday. U.S. stock index futures fell more than 1% and longer-dated U.S. Treasury yields rose after credit rating agency Moody's cut its ratings on the country's debt, citing concerns about the nation's growing $36 trillion debt pile. Euro zone government bond yields also edged higher. [GVD/EUR] Meanwhile,...
The Nikkei fell 255 points or 0.7% to close at 37,499 after a flat performance in the prior session, while the broader Topix edged down almost 0.1%, marking its second consecutive subdued day. A sharp drop in U.S. futures rattled sentiment after Moody's downgrade of the U.S. credit outlook raised fears of a potential flight from U.S. assets. Meanwhile, the White House kept up trade pressure, with Treasury Secretary Bessent warning that partners would face maximum tariffs if they failed to negotiate "in good faith." Investors remained cautious, closely watching U.S.-Japan trade talks as...
The Hang Seng ended little changed to end at 23,333 on Monday, swinging early drop amid gains mainly from consumer stocks. Sentiment improved after China's April factory activity showed strength despite rising U.S. tariffs. Meantime, new home prices in the mainland fell the least in 11 months, though it marked the 22nd straight monthly drop. Investors also awaited a scheduled call between U.S. President Trump and Russian Putin, hoping it could ease tensions over the war in Ukraine. Locally, Hong Kong's economy expanded 3.1% yoy in Q1 2025, in line with flash estimates and up from a revised...