Hong Kong stocks rose 124 points or 0.5% to a seven-week high of 23,806 in early trade Wednesday, extending gains from the previous session as most sectors advanced. Sentiment continued to be supported by China's central bank cutting key lending rates for the first time in seven months to support growth and ease trade-related risks. Major state banks in the mainland also lowered deposit rates to relieve pressure from narrowing interest margins. However, gains were somewhat limited by a rise in the city's jobless rate to 3.4% in the three months ending April its highest in over two years...
The Nikkei 225 fell 214 points or 0.6% to close at 37,315 on Wednesday, following small gains in the previous session. Meanwhile, the broader Topix index slipped 0.3%, giving up early gains. These declines followed fresh trade data showing Japan's exports grew at the slowest pace in seven months in April, as rising U.S. tariffs began to weigh. Exports to the U.S. fell for the first time in four months, driven by weaker demand for automobiles, steel, and ships. According to the Nikkei newspaper, lead trade negotiator Ryosei Akazawa is set to visit the U.S. on Friday for a third round of...
Both the STOXX 50 and STOXX 600 slipped 0.2% on Wednesday, retreating from nearly two-month highs reached the previous day, as traders awaited new catalysts amid concerns over stalled trade talks, weak economic data, and corporate earnings. Markets are closely watching the ongoing G7 finance ministers' meeting for any signals that a weaker dollar could support progress in trade negotiations. In the UK, inflation rose to 3.5%, prompting investors to scale back expectations for Bank of England rate cuts. On the corporate front, JD Sports shares plunged over 7% after reporting a 2% drop in...