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 at City Index and FOREX.com, in an email. "Gold's breakout above yet another round handle is simply fuelling the bullish momentum given the lack of any major selling activity," the analyst says. Gold could test next major level of $4,000/oz, with $3,900/oz broken, Razaqzada adds. Spot gold is 0.3% higher at $3,969.75/oz after earlier touching a fresh record intraday high of $3,976.18/oz, ICE...
The Hang Seng rose 137 points or 0.7% to close at 20,264 on Wednesday, snapping a two-day losing streak. The rebound came after early-session losses, driven by gains in tech, consumers, and property. Sentiment improved following Premier Li Qiang's remarks that Beijing is "fully capable of hedging against adverse external influences," including the newly imposed 104% U.S. import tariffs. A rally in mainland stocks also lifted the mood, as state-owned firms stepped in to support markets. Top Chinese brokerages pledged to stabilize share prices, and some listed companies launched stock buyback...
European stocks opened lower on Wednesday, with markets struggling to maintain the positive momentum of the previous session as the U.S.′ country-specific tariffs started taking effect. The pan-European Stoxx 600 index was 2.55% lower shortly after the opening bell, with all sectors and major bourses firmly in negative territory. Regional banking, mining and oil and gas indexes led the losses, plummeting 3%, 3.9% and 3.6% respectively. Among Europe's major indexes, the French CAC 40 crashed 2.6%, while Germany's DAX was 2.1% lower during early morning trade, and the FTSE 100 lost...
Japanese stocks fell sharply Wednesday as US tariffs officially took effect, triggering broad market losses. The Nikkei 225 dropped 3.93% to 31,714, while the Topix Index declined 3.4% to 2,349, reversing gains from the previous session and mirroring overnight losses on Wall Street. The new measures include a 24% tariff on Japanese goods and a 25% levy on auto exports to the US. President Trump confirmed Japan will send a delegation to negotiate, while Prime Minister Shigeru Ishiba said he urged Trump to reconsider the tariffs in a recent call. Financial and tech stocks led the selloff,...
The Hang Seng Index opened significantly lower this morning, down by 632 points or 3.14% settling at 19,494 points. Likewise, the National Index dropped by 232 points, or 3.13%, to stand at 7,198 points, while the Technology Index suffered a decline of 194 points, or 4.26%, now at 4,373 points. In the export sector this morning, Shenzhou International Group Holdings (2313) opened down 6.1%, while Intime Group (1382) remained flat at the opening. Crystal International Group (2232) saw a decrease of 5.6%. The shipping and port stocks also faced a downturn; China Merchants Port Holdings (0144)...
The Nikkei 225 Index plunged 3.6% toward 31,800 while the broader Topix Index tumbled 2.9% to 2,362 on Wednesday, giving back gains from the previous session and tracking losses on Wall Street overnight as US President Donald Trump's new tariffs are set to come into effect later today. That would include a 24% tariff on Japanese goods and a 25% levy on car imports to the US. Meanwhile, Trump said that Japan is sending a team to negotiate on trade with the US, while Prime Minister Shigeru Ishiba revealed that he told Trump in a phone call to rethink his tariff policies. Financial and...
Asia-Pacific markets fell on Wednesday as investors brace themselves for U.S. President Donald Trump's country-specific tariffs that are set to come into effect midnight stateside. Australia's S&P/ASX 200 slid 1.06%. Japan's Nikkei 225 lost 3.14%, while the Topix traded 3.26% lower. South Korea's Kospi edged 0.18% lower while the small-cap Kosdaq lost 0.44%. Hong Kong's Hang Seng Index fell 3.86%, while the Hang Seng Tech Index declined 5.42%.Additional tariffs will take effect just after U.S. midnight, adding to the 10% baseline duty that was already implemented on Saturday. Chinese...
The S&P 500 closed below 5,000 for the first time in nearly a year after a strong start to the session on Tuesday, amid growing concerns about a global trade war as the Trump administration prepares to raise tariffs on China at midnight. At 4:00 p.m. ET (21:00 GMT), the Dow Jones Industrial Average was down 320 points, or 0.8%, the S&P 500 was down 2% to close at 4,987.76 and the Nasdaq Composite was down 2.2%. The S&P 500, which rose about 4.1% at its high on the day, closed below 5,000 for the first time since April 19, 2024. Global trade war fears mount as tariffs on China...
European stock markets closed sharply higher in Tuesday trading as the Stoxx Europe 600 advanced 2.72%, Germany's DAX rose 2.48%, the FTSE 100 in London climbed 2.71%, France's CAC 40 increased 2.50%, and the Swiss Market Index surged 2.82%. US President Donald Trump rejected a European Union proposal to eliminate tariffs on bilateral trade in industrial goods, which means a 20% tariff on all EU imports will take effect Wednesday, Bloomberg reported Tuesday. Trump criticized European Commission President Ursula von der Leyen's offer as insufficient to reset the transatlantic trading...
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....