The dollar continued its strengthening for a second day, pressuring all G-10 currencies; the Japanese yen slumped for a fourth session to its weakest level since March before paring losses. The Bloomberg Dollar Spot Index rose about 0.6% in two days. USD/JPY strengthened 0.4% to 150.89. It reached its Tuesday session high of 151.03, a level last seen on March 28. Further gains in the pair would put the March high of 151.30 in sight. EUR/USD fell 0.4% to 1.167, falling for the fourth time in five days. GBP/USD fell 0.6% to 1.3407 after two days of gains. USD/CAD rose 0.1% to 1.3955. US...
Hong Kong stocks added 35 points or 0.15% in early trade on Tuesday, hovering near 23,312 after a sharp drop in the previous session. Investors reacted to fresh data from China showing industrial profits rose 1.4% in the first four months of 2025, up from 0.8% in Q1, as Beijing ramped up efforts to support the sluggish economy and counter rising trade risks. On the trade front, Hong Kong's exports jumped 14.7% in April, but imports rose a faster 15.8%, widening the trade gap. Meanwhile, Fitch Ratings affirmed Hong Kong's long-term foreign currency issuer default rating at AA- with a...
Asia-Pacific markets traded mixed Tuesday as investors continued to assess global trade climate with U.S. President Donald Trump deferring 50% tariffs on European Union imports. Japan's benchmark Nikkei 225 fell 0.21% while the broader Topix index was flat. In South Korea, the Kospi index declined 0.45%, reversing course from its three-month high in Monday's session, while the small-cap Kosdaq was flat. Mainland China's CSI 300 index rose 0.1% while Hong Kong's Hang Seng Index was up 0.2%. China's industrial profits rose 1.4% in April, compared to 0.8% the month before. Over in...
Japanese stocks are lower as uncertainty over U.S. trade policy continues. Electronics stocks are leading declines. Renesas Electronics declines 1.5% and Keyence is 1.0% lower. Japanese government bond yields decline across the curve. The 10-year yield falls 2 basis points at 1.485% and the 40-year yield is down 10 basis points at 3.435%. USD/JPY is at 142.41, down from 142.77 as of Monday's Tokyo stock market close. Investors are closely watching any developments related to U.S. tariffs. The Nikkei Stock Average fell 0.2% to 37462.07 Source: Bloomberg
US stock futures jumped on Tuesday after President Donald Trump announced over the holiday weekend that he would postpone the implementation of a 50% tariff on European Union goods, extending the deadline to July 9. The decision follows a volatile week for financial markets, driven by growing concerns over the US fiscal outlook and persistent trade uncertainties. Last week, the Dow dropped 2.47%, the S&P 500 fell 2.61%, and the Nasdaq Composite lost 2.47%. Apple shares were particularly hard hit, plunging 7.57% after Trump warned that iPhones sold in the US must be manufactured...
European stocks closed sharply higher on Monday after the U.S. voted to push back tariffs on the European Union back to their original date. The eurozone STOXX 50 closed 1.3% higher at 5,397 and the pan-European STOXX 600 gained 1% to close at 550. U.S. President Trump said Friday's 50% tariffs on the EU would be delayed until July, and sounded a note of optimism about aggressive trade levies. Consistently, EU Commission President Von der Leyen noted that a deal could be reached by the July 9 deadline. As a result, sectors with a large exposure to U.S. consumers outperformed and bounced...
The U.S. dollar fell against its major counterparts as U.S. equity futures rose following President Donald Trump's decision to postpone an increase in tariffs on the European Union. The U.S. dollar index (DXY) initially dropped before recovering most of its losses during the day. Meanwhile, the EUR/USD pair rose by 0.5% before settling 0.1% higher at $1.1378. On Sunday, President Trump announced he had agreed to delay a 50% tariff on European Union imports until July 9. This decision came after a conversation with the European Commission President, Ursula von der Leyen. Trump described...
The Hang Seng tumbled 319 points or 1.4% to close at 23,282 on Monday, erasing gains from the previous session as losses spread across consumer, tech, and financial sectors. The selloff followed remarks by U.S. President Trump, who threatened a 25% tariff on iPhones not made in the U.S.—later adding Samsung would face similar treatment. iPhone supplier Luxshare slipped 0.2%. BYD tumbled 9% after launching steep discounts in a recent promotion, dragging down other EV makers: Geely Auto (-8.6%), Li Auto (-4.0%), NIO (-3.5%), and Xpeng (-4.4%). Caution also grew ahead of China's industrial...
Japan stocks were higher after the close on Monday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 1.01%. The best performers of the session on the Nikkei 225 were Keisei Electric Railway Co., Ltd. (TYO:9009), which rose 5.77% or 77.00 points to trade at 1,412.00 at the close. Meanwhile, Lasertec Corp (TYO:6920) added 4.98% or 705.00 points to end at 14,865.00 and CyberAgent Inc (TYO:4751) was up 4.51% or 64.00 points to 1,481.50 in late trade. The worst performers of the session were Isetan Mitsukoshi Holdings Ltd....
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....