Shares in Hong Kong jumped 424 points or 1.8% to 24,454 on Friday morning, extending gains from the prior session and hitting a two-week high. The uptrend tracked record closes on Wall Street, with the S&P 500 and Nasdaq reaching fresh highs. Optimism also mounted over a more coordinated policy response from China after June's producer prices posted the steepest drop in nearly two years. All sectors climbed, led by tech, financials, and consumer stocks. The market is up about 2% so far this week, rebounding from losses in the previous one. However, further gains were capped by caution...
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...
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....