The dollar headed for a second straight weekly gain against major peers, buoyed by some solid U.S. economic data that supported the view the Federal Reserve can afford to wait a while longer before cutting interest rates again. The yen remained on the back foot heading into upper house elections on Sunday in Japan, with polls suggesting the ruling coalition is at risk of losing its majority - a development that would stir policy uncertainty and complicate tariff negotiations with the U.S. Bitcoin hovered just above $120,000, after this week pushing to an all-time peak of $123,153.22, with...
The Nikkei 225 fell 0.3% to around 35,520, while the broader Topix Index dropped 0.9% to 2,637 on Wednesday, extending this week's selloff as investors geared up for the implementation of US President Donald Trump's reciprocal tariffs. Trump is also set to impose levies on car imports, affecting a key export industry in Japan. Data earlier this week showed that business sentiment in Japan weakened for the first quarter amid mounting concerns over the potential effects of US tariffs on Japan's export-driven economy. Investors now await household spending data on Friday for further economic...
Hong Kong stocks fell 52 points or 0.2% to 23,161 in early deals on Wednesday, reversing a modest gain in the previous session amid losses in most sectors. Investors took a cautious stance ahead low as US futures drifted lower. Uncertainty also grew over China's policy stimulus, raising concerns about whether it would be timely and sufficient to counter escalating trade pressures. Goldman Sachs analysts warned that China's manufacturing activity could face pressures in the coming months due to additional trade barriers. Locally, Hong Kong's retail sales plunged 15.0% yoy in February,...
Asia-Pacific markets opened slightly higher Wednesday as investors brace for U.S. President Donald Trump to roll out fresh tariffs this week. Japan's Nikkei 225 rose 0.06%, while the Topix declined 0.3%. South Korea's Kospi added 0.14% and the small-cap Kosdaq inched up 0.12%. Australia's S&P/ASX 200 traded 0.63% higher. Hong Kong's Hang Seng index futures last traded at 23,150, lower than the HSI's Tuesday close of 23,206.64. U.S. stock futures moved higher as Wall Street awaits the expected rollout of President Donald Trump's tariffs on Wednesday. Overnight in the U.S., the three...
Wall Street major averages closed a volatile session mixed on Tuesday, as investors awaited clarity from President Trump regarding his upcoming tariff policy. The S&P 500 rose by 0.4%, the Nasdaq 100 gained 0.9%, while the Dow Jones finished marginally in the red. Consumer discretionary stocks, including Tesla and Nike, led the day's gains. The market remained under pressure from weaker-than-expected economic data, including a disappointing manufacturing survey with price pressures at their highest since 2022 and job openings below forecasts. The White House confirmed that reciprocal...
European markets rebounded on Tuesday, with the Stoxx 50 and Stoxx 600 rising over 1%, recovering from a four-session losing streak. This comes after both indexes fell about 1.5% the previous day to two-month lows, as investors braced for President Trump's new trade tariffs set to take effect on Wednesday. Uncertainty remains over the scope of the tariffs, with reports suggesting a 20% levy on most U.S. imports. Meanwhile, Eurozone inflation cooled to 2.2% in March, in line with expectations. In corporate news, Thyssenkrupp surged over 7% after analysts at Kepler Cheuvreux upgraded the...
U.S. stocks fell Tuesday, as the market awaited clarity from President Donald Trump regarding his tariff policy rollout. Tuesday also marks the beginning of the second-quarter after a bumpy first quarter. The Dow Jones Industrial Average dropped 238 points, or 0.6%. The S&P 500 shed 0.4%, and the Nasdaq Composite slid 0.3%. Shares of Alphabet and Apple lost more than 1% each. Tesla, meanwhile, climbed more than 2%. The White House on Wednesday is expected to unveil reciprocal tariffs on goods from virtually all countries. Investors had been hoping for a narrow approach toward...
The Hang Seng rose by 87 points, or 0.4%, to close at 23,207 on Tuesday, following a weak session the day before, as it moved away from a four-week low, lifted by expansion in the Chinese manufacturing sector. A private survey showed that factory activity in the mainland grew the most in four months, following Monday's official data that revealed the manufacturing sector expanded at the fastest pace in a year. However, capping the gains, traders anticipated the unveiling of Trump's tariffs on Wednesday. Tech, commercial services, energy minerals, and miscellaneous sectors mainly drove the...
Japan's Topix Index eked out a small gain after paring most of its earlier rise, as a fall in US futures added to worries about Donald Trump's upcoming reciprocal tariffs. Topix rose 0.1% to 2,661.73 as of market close in Tokyo, after rising as high as 2,697.33 in morning trade Nikkei was virtually unchanged at 35,624.48 Drugmakers and trading houses contributed the most to the Topix's advance, while banks and electronics makers were the heaviest drag. "There's noticeable selling in sectors seen as sensitive to the economy, such as banks and tech," as concerns about...
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....