WTI crude oil futures climbed 1.3% to $61.7 per barrel on Monday after OPEC+ agreed to a smaller-than-expected production increase, easing fears of a major supply surge. The group, which includes Saudi Arabia and Russia, said it would raise output by just 137K barrels per day in November matching October's increase despite earlier reports suggesting a much larger boost. The restrained move came amid diverging views within the alliance, with Moscow favoring a modest rise to protect prices and Riyadh pushing for a more aggressive expansion to reclaim market share. Prices were further...
Hong Kong stocks rose 341 points, or 1.4%, to 23,824 in early trading on Thursday (3/27), extending gains for a second session amid broad gains. Sentiment was boosted after Wall Street banks turned bullish on Chinese stocks. Morgan Stanley raised its 2025 year-end target for mainland stocks for the second time this year, while Goldman Sachs projected further gains driven by positive earnings revisions. A slight 0.3% year-on-year decline in China's industrial profits for the first two months of 2025 also lent support, following a 3.3% decline in 2024 and reinforcing signs that Beijing's...
Asia-Pacific markets fell Thursday, tracking losses on Wall Street as investors weighed U.S. President Donald Trump's 25% tariffs on auto imports. Japan's benchmark Nikkei 225 was down 1.14% lower while the broader Topix index lost 0.70%. Over in South Korea, the Kospi index declined 0.95% while the small-cap Kosdaq fell 0.54%. Hong Kong's Hang Seng Index rose 0.19% while mainland China's CSI 300 started the day 0.25% lower. Australia's S&P/ASX 200 was down 0.57%. U.S. futures edged down after the three key Wall Street indexes logged losses overnight. The S&P 500 lost 1.12% and...
The Nikkei 225 slipped 0.5% to below 37,900, while the broader Topix Index lost 0.4% to 2,800 on Thursday, snapping a two-day rally. Automakers led the decline after US President Donald Trump announced a 25% tariff on all imported cars and light trucks, set to take effect next week. Japanese carmakers saw steep losses, including Toyota Motor (-2.9%), Honda Motor (-2.3%), Subaru (-5.7%), Mazda Motor (-5.3%), and Nissan Motor (-3.5%). Technology stocks also retreated following a tech-led selloff on Wall Street. Sharp declines were recorded in Advantest (-5.3%), Fujikura (-5.1%), Disco...
Stocks dipped on Wednesday, led lower by tech, as pressure on the tariff front mounted. The S&P 500 lost 1.12% and ended at 5,712.20, while the Dow Jones Industrial Average fell 132.71 points, or 0.31%, to close at 42,454.79. The tech-heavy Nasdaq Composite shed 2.04% and closed at 17,899.01, as Nvidia shares dropped nearly 6%. Major tech names such as Meta Platforms and Amazon dropped more than 2%, while Alphabet lost more than 3%. Tesla slid more than 5%. Stocks hit session lows after the White House said that President Donald Trump will unveil new tariffs on auto imports during a...
Stocks dipped on Wednesday, led lower by tech, as pressure on the tariff front mounted. The S&P 500 lost 1.1%, while the Dow Jones Industrial Average traded 205 points lower, or 0.5%. The tech-heavy Nasdaq Composite shed about 2%, as Nvidia shares dropped more than 6%. Other major tech names such as Meta, Amazon and Alphabet lost more than 2% each, while Tesla slid more than 5.5%. Stocks hit session lows after the White House said that President Donald Trump will unveil new tariffs on auto imports during a press conference at 4 p.m. ET. General Motors and Ford shares each dropped more...
The S&P 500 traded around the flatline and the Nasdaq declined 0.2% while the Dow Jones gained about 210 points on Wednesday, as traders awaited further clarity on trade policy amid growing concerns over the economic outlook. On Tuesday, President Trump reaffirmed his opposition to too many exceptions on reciprocal tariffs, set to take effect on April 2nd. Meanwhile, durable goods orders were mixed, with total orders surprisingly rising while orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, fell 0.3%, missing forecasts of a...
European stocks opened broadly lower on Wednesday ahead of a U.K.-focused day for markets. The pan-European Stoxx 600 was 0.7% lower by 9:25 a.m. in London, with most sectors seeing losses. Wednesday will be a busy day for U.K. financial markets, with the "Spring Statement" from U.K. Finance Minister Rachel Reeves due just after midday local time, and official figures showing U.K. inflation cooled slightly to 2.8% in February. Reeves is expected to announce billions of pounds worth of spending cuts as a way to close a budget shortfall caused by a rise in borrowing costs since her first...
The Hang Seng climbed 139 points or 0.6% to close at 23,483 on Wednesday, partially rebounding from a near two-week low in the prior session. Sentiment improved after the Trump administration suggested that upcoming US tariffs may be more targeted than initially feared. Traders also welcomed news that Morgan Stanley raised its 2025 year-end targets for Chinese stocks, while Goldman Sachs strategists predicted further upside driven by positive earnings revisions. Geopolitical developments also provided support, with the US announcing a Russia- Ukraine ceasefire in the Black Sea. However, a...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
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....