European stock markets opened lower on Friday after hitting record highs earlier this week. The pan-European Stoxx 600 index moved 0.1% lower when markets opened. The U.K.'s FTSE 100 was down by 0.25%, and Germany's DAX was lower by 0.3%. Meanwhile, France's CAC 40 opened flat. Asia-Pacific markets were mixed Friday, after Wall Street rose overnight as President Donald Trump signed a reciprocal tariffs plan, but did not enact the levies immediately. Mainland China's CSI 300 Index rose 0.86%, while Hong Kong's Hang Seng index surged 3.06%, extending its gains from the previous...
Hong Kong stocks surged more than three percent on Friday, in line with a global rally fuelled by relief over the timeline of US President Donald Trump's latest tariffs. Sentiment was also boosted by a Bloomberg report that China had invited Alibaba co-founder Jack Ma and other entrepreneurs for a meeting with top brass, fuelling hopes of further support for the country's private sector. The Hang Seng Index jumped 3.69 percent, or 805.96 points, to 22,620.33. The president said Thursday he decided to impose fresh reciprocal duties on trading partners, telling reporters that US allies were...
The three major averages in the US swung around the flatline on Friday, as traders digest much weaker-than-expected retail sales that raised concerns about the strength of the US consumer spending. Retail sales declined 0.9% last month and the control sales which is used to calculate GDP declined 0.8%. Consumer spending was likely hit by harsh weather and wildfires in LA. Meanwhile, President Trump signed a directive instructing the US Trade Representative and Commerce Secretary to propose new country-specific tariffs. Investors await further details and remain hopeful that negotiations...