The US dollar index fluctuated around 98.4 on Thursday, but remained within the previous session's strengthening zone. The market appeared cautious as investors began to position themselves ahead of the November US CPI release, which is expected to show price pressures remain above the Fed's target. Mixed US labor data earlier this week hasn't significantly changed the market outlook—investors still expect at least one interest rate cut in the future. Fed official Christopher Waller said there's still room to cut rates due to signs the labor market is softening, while Raphael Bostic was...
The Hang Seng Index plunged 305 points, or 1.2%, to close at 25,525 on Tuesday, after posting two consecutive days of gains amid widespread losses. Sentiment worsened after US index futures fell sharply following President Trump's firing of Fed Chair Lisa Cook and his threat of "200% tariffs" on China if rare earth magnet exports were restricted. Trump also vowed to retaliate against countries that regulate major US technology companies. The index retreated from a nearly four-year high on growing concerns that mainland Chinese stocks might weaken after a month-long rally that lifted the...
European stocks traded sharply lower on Tuesday, with the Stoxx 50 down by around 1%. French stocks tumbled as political turmoil deepened after Prime Minister Francois Bayrou called a Sept. 8 confidence vote that could topple the government. The CAC 40 fell 1.9%, dragging down European benchmarks, while the FTSE 100 slipped 0.6% on reopening after a holiday. Opposition parties, including the far-right National Rally, France Unbowed, and the Greens, vowed to vote against Bayrou, leaving the government vulnerable. Broader European markets remain under pressure from sluggish growth and...
The Nikkei 225 Index dropped 0.97% to close at 42,394, while the broader Topix Index fell 1.08% to 3,072 on Tuesday, snapping a two-day advance and mirroring overnight weakness on Wall Street as investors locked in profits after last week's rally. Market sentiment was also dented by renewed trade tensions after US President Donald Trump reportedly threatened to impose "200% tariffs or something" on China if it failed to export rare-earth magnets to the US. Adding to uncertainty, Trump announced the removal of Federal Reserve Governor Lisa Cook over alleged mortgage fraud, raising fresh...
Hong Kong stocks fell 98 points, or 0.4% to 25,734 in Tuesday morning's session, snapping a two-day rally after Wall Street closed lower as traders weighed U.S. President Trump's tariff threats. Trump reportedly warned of "200% tariffs or something" on China if it limits rare-earth magnet exports, and vowed retaliation against countries targeting U.S. Big Tech, calling such moves "discriminatory." The Hang Seng pulled back from its highest in almost four years as caution grew ahead of China's January–July industrial profit data, with sentiment weighed by trade frictions, weak demand, and...
Nikkei Drops 0.6%, Dragged by Electronics, Pharma Stocks Japanese stocks are lower as uncertainty over U.S. tariffs and their impact on earnings continues. Electronics and pharmaceutical stocks are leading declines. Renesas Electronics is down 2.0% and Daiichi Sankyo is 1.9% lower. USD/JPY is at 147.27, compared with 147.17 as of Monday's Tokyo stock market close. Investors are focusing on any developments related to the war in Ukraine and domestic politics. The Nikkei Stock Average is down 0.6% at 42536.55. Source: Bloomberg
Asia-Pacific markets mostly fell Tuesday, tracking losses on Wall Street, as investors weighed U.S. President Donald Trump's comments on China. Investors also assessed the meeting between South Korean and U.S. presidents over fleshing out the trade deal framework announced last month that stipulated 15% tariffs on the Asian country's exports to the U.S. The Kospi index fell 0.56%, while the small-cap Kosdaq was up 0.36%. In Japan, the Nikkei 225 as well as the broader Topix index fell 0.54%. Australia's S&P/ASX 200 benchmark was marginally lower in early trade. Futures for Hong...
Stocks in the US closed lower on Monday as investors took a breather from last week's powerful rally and turned their focus to Nvidia's highly anticipated earnings report due Wednesday. The S&P 500 slipped 0.3% and the Dow Jones fell 349 points after last week's record-setting surge, and the Nasdaq 100 finished 0.4% lower. Consumer staples, health and utilities sectors dragged the most. Nvidia, which accounts for 8% of the S&P 500 rose 1%, while Intel shares lost 1% after news that the US government had taken a 10% stake in the company, part of a broader Trump administration push...
European markets closed lower on Monday as investors assessed the economic outlook following signals from Federal Reserve Chairman Jerome Powell that interest rate cuts may be coming soon. The pan-European STOXX 600 dropped 0.5% at the start of trading, with most regional indexes trading in negative territory. Germany's DAX also declined 0.5%, while France's CAC 40 tumbled 1.6%. U.K. markets remained closed for a public holiday. Shares of Danish windfarm developer Oersted AS (CSE:ORSTED) plunged more than 16% after U.S. authorities ordered the company to halt construction on a nearly...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
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....