Gold steadied and was set for a moderate weekly loss as investors assessed the outlook for Federal Reserve rate cuts after resilient US jobs and retail data eased concerns about the economy. Bullion traded below $3,340 an ounce, heading for a 0.5% drop on the week. That came after data that showed applications for unemployment benefits fell for a fifth straight week to the lowest level since mid-April, and advancing retail sales in June. San Francisco Fed President Mary Daly said it's reasonable for policymakers to plan on two interest-rate cuts this year, emphasizing that the central bank...
The Hang Seng rose 95 points or 0.4% to end at 23,579 on Thursday, marking its second straight session of gains. Sentiment strengthened after U.S. President Trump suggested he may cut tariffs on China to facilitate the sale of TikTok by its owner, ByteDance. A slight drop of 0.3% yoy in Chinese industrial profits for the first two months of 2025 also provided support after a 3.3% drop in 2024. Most sectors advanced after JPMorgan joined other Wall Street banks in turning more bullish on China, raising its Q4 2025 target for the MSCI China Index to 95, about 7% higher than its prior...
The Nikkei 225 fell 0.6% to close at 37,780 on Thursday, ending a two-day rally, with automakers leading the decline after U.S. President Donald Trump announced a 25% tariff on all imported cars starting next week. Japanese automakers suffered the biggest losses, including Toyota Motor (-2%), Honda Motor (-2.5%), Subaru (-5%), Mazda Motor (-56%), and Nissan Motor (-1.7%). Meanwhile, Prime Minister Shigeru Ishiba warned that Japan would not rule out retaliatory action against Trump's auto tariffs. Technology stocks also fell following a tech-led selloff on Wall Street. Sharp declines were...
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...
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....