The Hang Seng climbed 233 points or 1.1% to close at 20,915 on Friday, rebounding from morning losses as US futures rose sharply after President Biden said the first phase of trade talks was "very close," fueling optimism that China may return to the negotiating table. The index closed in the green for the fourth day, tracking mainland markets, buoyed by Beijing's efforts to stabilize financial markets this week, including stock purchases by a state fund and state-owned firms. Several listed companies also launched share buybacks. Gains were broad-based, led by tech, financials, and...
Stocks slipped Friday as traders weighed the latest developments on the tariff front as they wrap up a wild week. The Dow Jones Industrial Average traded 140 points lower, or 0.4%. The S&P 500 shed 0.4%, and the Nasdaq Composite pulled back by 0.2%. This week has been one of the most volatile periods on record for Wall Street. The major averages tumbled Thursday as traders went into risk-off mode, with trade policy uncertainty weighing on sentiment, losing a chunk of the historic gains seen on Wednesday after Trump announced a 90-day reprieve on some of his high "reciprocal"...
European stock markets reversed early gains to close lower, capping a turbulent week dominated by escalating trade tensions between the US and China, which reignited fears of a global recession and triggered an aggressive pivot away from US assets. The STOXX 50 fell 0.6% and the broader STOXX 600 slipped 0.2%. China's finance ministry announced additional tariffs of 125% on U.S. goods, in response to President Trump's decision a day earlier to raise levies on Chinese imports to 145%. In Europe, the EU temporarily suspended its planned retaliatory tariffs for a 90-day period, mirroring...