Gold prices hit an all-time high on Monday (October 6), surging above $3,900 an ounce, as investors flocked to safe-haven assets amid the US government shutdown, broader economic uncertainty, and the prospect of further Federal Reserve interest rate cuts. Spot gold rose 1.4% to $3,940.04 an ounce, as of 11:08 GMT, after reaching $3,949.34 earlier in the session. US gold futures for December delivery rose 1.4% to $3,964.50. Washington will begin mass layoffs of federal workers if US President Donald Trump decides negotiations with Democratic lawmakers to end the partial government shutdown...
The Hang Seng Index rose 64 points, or 0.3%, to close at 24,203 on Monday (July 14), extending gains for the third consecutive session as investors responded positively to Chinese trade data. Exports grew 5.8% year-on-year (yoy) in June, beating the 5% projection as companies accelerated deliveries amid a fragile tariff truce ahead of the August deadline. Meanwhile, imports grew 1.1% after a 3.4% decline in May. Adding to optimism, new yuan loans increased faster than expected in June, driven by a seasonal surge in loan issuance and strong government bond sales. However, further gains were...
European stocks fell on Monday after President Donald Trump dialed up trade tensions by announcing a 30% tariff on goods from the region. The Stoxx Europe 600 Index fell 0.5% as of 8:20 a.m. in London. The consumer and auto sectors were the biggest laggards. Following renewed tariff pressure from Trump, the European Union is getting ready to step up its engagement with other countries hit by levies. The region's benchmark is still up slightly in July, with investors turning their attention to the impact of duties on earnings. "While 30% tariffs on the EU...
Japanese shares ended lower on Monday as a Bank of Japan survey showed 85% of households expect prices to rise, while the central bank may potentially raise its inflation forecast this month on stubborn food costs. The Nikkei 225 declined 0.28%, or 110.06 points, to end at 39,459.62. About 85% of Japanese households expect prices to rise over the next year, slightly down from 86.7% in March, a Bank of Japan survey showed on Monday. The central bank is considering raising its inflation forecast for the current fiscal year due to rising food costs, Reuters reported, citing sources. However,...
The Hang Seng Index opened 39 points lower, a decline of 0.16%, settling at 24,100 points. Meanwhile, the China Enterprises Index dropped 8 points or 0.09% to 8,679 points, and the Technology Index fell 8 points or 0.15% to 5,240 points. Technology stocks showed mixed performance: Tencent edged up 0.1%, Alibaba slipped 0.6%, Meituan declined 0.1%, Xiaomi Group gained 0.2%, and Kuaishou rose 0.5%. Financial stocks were generally weaker. HSBC Holdings dropped 1.1%, AIA Group fell 0.5%, Ping An Insurance edged up 0.1%, and the Hong Kong Stock Exchange declined 0.1%. Automotive stocks also saw...
The Nikkei 225 Index fell 0.3% to below 39,500 while the broader Topix Index lost 0.2% to 2,817 on Monday, with the former hitting over two-week lows as renewed trade tensions weighed on sentiment. The drop followed US President Donald Trump's announcement of a 30% tariff on imports from the European Union and Mexico, set to take effect on August 1. In response, the EU is reportedly ramping up talks with other affected countries, including Canada and Japan, to explore possible coordinated measures. On the domestic front, Japan's core machinery orders fell 0.6% month-over-month to ¥913.5...
US stocks closed lower on Friday (July 11th) after President Trump announced a 35% tariff on Canadian imports and warned of broader global tariff increases. The S&P 500 Index fell 0.3% after hitting a record high the previous day, ending a rally fueled by investor optimism. Trump's letter to Canada raised concerns and warned of further action if retaliation follows, while he also hinted that similar action targeting the European Union would be imminent. Most sectors weakened, with healthcare and financials leading the decline, while energy and discretionary consumer goods...
European stock markets have given up some of their recent gains by tumbling on the last trading day of the week, while waiting on an expected EU tariff letter from White House. The Stoxx Europe 600 index was down 1.1%. Germany's DAX and France's CAC 40 were both lower by around 0.9%. The U.K.'s FTSE 100 lost 0.4% of its value. Some of the positive stock market moves this week came in the wake of the release of the Federal Reserve's June meeting minutes, which showed willingness by a majority of policymakers to cut interest rates this year. But according to JPMorgan Chase CEO Jamie Dimon,...
Wall Street's main indexes opened lower on Friday as President Donald Trump cranked up his tariff assault on Canada, deepening uncertainty around Washington's trade agenda. At 09:30 a.m., the Dow Jones Industrial Average opens new tab fell 215.88 points, or 0.48%, to 44,434.99, the S&P 500 (.SPX), opens new tab lost 24.52 points, or 0.39%, to 6,255.94 and the Nasdaq Composite (.IXIC), opens new tab lost 55.63 points, or 0.27%, to 20,575.04. Source: Reuters
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....