Gold traded higher early on Friday as the dollar and treasury yields weakened. Gold for August delivery was last seen up US$17.80 to US$3,363.10 per ounce. The price of the precious metal has traded in a tight range for most of July after touching a record high on June 13 as the outlook for further interest-rate cuts from U.S. Federal Reserve weakens as it waits to assess the impact of tariffs on inflation and employment. "With our rates strategists pushing their call for the first cut from the Fed till December, and amidst outside pressure on Powell, we see both the macro drivers and...
(Hong Kong) The escalating tensions in the Middle East have impacted the financial markets, with the Hang Seng Index opening lower by 75 points or 0.31%, standing at 23,959 points. Concurrently, the H-share index dropped by 41 points or 0.47%, reaching 8,688 points, while the technology index also experienced a decline of 50 points or 0.95%, settling at 5,280 points. In the tech sector, there was a general softening trend, with Tencent showing a minor increase of 0.1%, while Alibaba witnessed a decrease of 1.5%. Similarly, Meituan fell by 1.2%, Xiaomi Group dropped by 0.5%, and Kuaishou...
Japanese equities slipped on Friday despite Wall Street's gains, driven by cooling US inflation and anticipation of Federal Reserve rate cuts. The Nikkei 225 opened 42.84 points lower at 38,324.93. Investors are awaiting Japan's revised industrial production report for April; the preliminary reading showed a 0.70% increase year-over-year. Meanwhile, Japanese Prime Minister Shigeru Ishiba believes there's a significant gap in trade talks with the US, and he has no immediate timeline for an agreement, according to Bloomberg News on Thursday. This comes ahead of his anticipated meeting with...
Asia-Pacific markets were set to open higher Friday, tracking gains on Wall Street following a batch of economic data that pointed toward a solid U.S. economy. Futures for Japan's benchmark Nikkei 225 in Chicago were at 38,220 while their counterpart in Osaka last traded at 38,170 compared with the index's Thursday close of 38,173.09 Futures for Hong Kong's Hang Seng index last traded at 24,178, compared with the HSI's last close of 24,035.38. Australia's S&P/ASX 200 was also set to start the day higher, with futures tied to the benchmark at 8,605, compared to the index's close of...
US equites closed slightly higher on Thursday, as a rally in Oracle shares and cooling inflation offset lingering trade uncertainties. The S&P 500 rose 0.4% and Nasdaq gained 0.2%, lifted by a 13% surge in Oracle shares following strong quarterly results and an upbeat forecast for cloud growth driven by AI demand. However, Boeing fell 4.7% after a deadly crash involving an Air India Dreamliner, weighing on the Dow, which closed 101 points higher. Economic data showed further signs of easing inflation, with the Producer Price Index rising just 0.1% in May, boosting hopes for a Federal...
Stocks slid Thursday as U.S. President Donald Trump threatened setting unilateral tariffs on trading partners in two weeks. The S&P 500 lost 0.1%, while the Nasdaq Composite was down 0.1%. The Dow Jones Industrial Average was also lower by 191 points, or 0.5%. Dow component Boeing shed 4% after an Air India Dreamliner 787 crashed after takeoff with 242 passengers on board. Shares of Oracle surged 11% after the company reported fiscal fourth-quarter results that beat on the top and bottom lines and indicated more cloud growth ahead. Stocks were weaker even as investors got...
The Hang Seng plunged 331 points, or 1.4%, to close at 24,035 on Thursday, reversing gains from the previous session amid a plunge in U.S. futures following President Trump's threat of new tariffs. This came just a day after China and the U.S. struck a positive tone in talks to ease tensions. Trump said letters detailing the terms of a new trade deal would be sent to countries within weeks, which they could either accept or reject. The market retreated from a nearly three-month high, with all sectors down as traders locked in profits. Sentiment also turned cautious ahead of U.S. PPI data...
European stock markets have opened sharply lower, with the Stoxx 600 index falling 0.42% and almost all sectors in the red led by travel, down 1.5%. Global sentiment has not been improved by the latest updates on U.S. tariffs, with high duties that Washington has imposed on China expected to remain in force and with negotiations with key U.S. trading partners looking set to rumble on beyond the initial July 9 deadline. The U.K.'s FTSE 100 initially dipped after closing at a record high on Wednesday, but was last fractionally above the flatline after figures showed the British economy...
Japan stocks were lower after the close on Thursday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 lost 0.68%. The best performers of the session on the Nikkei 225 were Sumitomo Dainippon Pharma Co Ltd (TYO:4506), which rose 16.95% or 150.00 points to trade at 1,035.00 at the close. Meanwhile, Mitsubishi Heavy Industries, Ltd. (TYO:7011) added 4.88% or 160.00 points to end at 3,436.00 and Japan Steel Works Ltd (TYO:5631) was up 4.45% or 322.00 points to 7,551.00 in late trade. The worst performers of the...
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....