Gold (XAU/USD) Gold (XAU/USD) regains ground on Friday, edging modestly higher after earlier weakness, even as a resilient US Dollar (USD) caps upside momentum. At the time of writing, XAU/USD trades around $4,345, recovering from a daily low near $4,309. The precious metal briefly surged toward record highs on Thursday after US inflation data undershot expectations. However, gains quickly faded as softer inflation lifted risk appetite across equity markets and pushed Gold back within the range established earlier this week. That said, the downside appears limited, as a dovish Federal...
The Hang Seng dropped 149 points or 0.6% to 24,325 on Thursday, snapping the four-day winning streak and retreating from a three-month high amid broad losses and profit-taking. Investor caution resurfaced on worries that Wall Street's recent rally may have outpaced economic fundamentals, especially with persistent macro and geopolitical risks. On Capitol Hill, Fed Chair Powell stated the Fed remains cautious in evaluating how tariffs are influencing consumer prices. Pharma stocks weighed heavily on the index, with sharp declines in Innovent Biologics (-4.5%), Wuxi Biologics (-2.7%), and...
European stocks edged up on Thursday, helped by signs that an Israel-Iran ceasefire appears to be holding, while U.S. President Donald Trump's latest criticism of the Federal Reserve chairman revived concerns over the central bank's independence. The pan-European STOXX 600 index opened up 0.3% at 538.75 points, as of 0707 GMT. Other major regional indexes were also trading higher. On Wednesday, Trump called Fed Chairman Jerome Powell "terrible" and said he had three or four people in mind as contenders for the Fed's top job. The Wall Street Journal reported that Trump has been toying with...
Japanese stocks rose after the close on Thursday (6/26), as gains in the Real Estate, Banking and Textile sectors boosted shares. At the close in Tokyo, the Nikkei 225 rose 1.66% to hit a fresh 3-month high. The best performers on the Nikkei 225 were Ebara Corp. (TYO:6361), which rose 9.84% or 239.00 points to trade at 2,667.50 at the close. Meanwhile, Alps Electric Co., Ltd. (TYO:6770) rose 5.62% or 82.50 points to close at 1,551.50 and SoftBank Group Corp. (TYO:6770) gained 1.66% or 23.00 points to close at 2,667.50. (TYO:9984) rose 5.52% or 514.00 points to 9,830.00 at the close. The...
Hong Kong shares fell 103 points, or 0.4%, to 24,371 on Thursday morning, snapping a four-day rally as traders took profits after the market hit a three-month high. Sentiment was further dampened by Fed Chair Powell's cautious stance on inflation and tariffs during his second day of congressional testimony, though he hinted that a rate cut could be considered if current pressures prove temporary. However, Wall Street's record highs helped limit sharper losses. On the geopolitical front, President Trump announced upcoming U.S.-Iran talks amid a tenuous ceasefire. In China, Premier Li Qiang...
Asia-Pacific markets were mostly down on Thursday, as investors continued to weigh the ongoing ceasefire between Israel and Iran. Japan's benchmark Nikkei 225 rose 1.04% and the Topix gained 0.32%. South Korea's Kospi fell 1.81%, while the small-cap Kosdaq dropped 2%. Australia's S&P/ASX 200 slipped 0.21%. Hong Kong's Hang Seng Index fell 0.72%, and the CSI 300 dropped 0.31%. U.S. futures were largely unchanged. S&P 500 futures traded around the flatline, as did Nasdaq 100 futures and futures tied to the Dow Jones Industrial Average. Federal Reserve Chairman Jerome Powell...
Japan's Nikkei 225 jumped 1% to above 39,300 on Thursday, hitting a four-month high as technology shares rallied along with Wall Street's advance. The move followed a surge in Nvidia shares, which hit a new record high overnight to reclaim its status as the world's most valuable public company, driven by continued optimism around artificial intelligence. Japanese chip stocks mirrored the momentum, with Advantest up 4.3%, Tokyo Electron up 1.7%, Lasertec up 1.5% and SoftBank Group up 2.8%. Geopolitical sentiment also improved as a ceasefire between Iran and Israel appeared to be holding,...
Wall Street closed on a mixed note on Wednesday as investors weighed steady Middle East ceasefire developments and digested Fed Chair Jerome Powell's second day of congressional testimony. The S&P 500 finished flat, and the Dow slipped 105 points, while the Nasdaq 100 rose 0.2% notching a fresh record close. Fed Chair Jerome Powell maintained a cautious tone, signaling that while the Fed can manage potential inflation from tariffs, it's not yet ready to cut rates, despite mounting pressure from President Trump and some lawmakers. Meanwhile, housing data revealed new home sales dropped...
European stocks close firmly lower on Wednesday as markets continued to assess the impact as geopolitical tension in the Middle East may have on energy prices and the outlook of European debt supply amid pledges of higher defense spending. The Eurozone's STOXX 50 dropped 0.8% to close at 5,254 and the pan-European STOXX 600 dropped 0.7% to 537. NATO members agreed to increase defense spending to 5% of their GDP by 2030 during the ongoing summit in the Hague. Food and beverage producers led the losses among main equity sectors of the Eurozone, with AB InBev and Danone dropping more than 3%....
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....