Silver price (XAG/USD) trades in a tight range around $38 during the Asian trading session on Wednesday. The white metal consolidates as investors await more cues regarding trade talks between the United States (US) and the European Union (EU). On Wednesday, US President Donald Trump stated that Washington could possibly has a deal with the EU, while expressing confidence that a trade pact with India is on the horizon. "We're very close to India, and we could possibly make a deal with EU, Trump said in an interview aired on Real America's Voice. Trump's comments came at a time when EU...
Hong Kong's equities surged 370 points or 1.6% to 23,313 in early trade on Monday, reversing losses from the previous two sessions as traders reacted positively to February's PMI readings in China. Factory activity in the country grew the most in three months, a private survey data showed. Meanwhile, official figures showed the manufacturing sectors unexpectedly expanded while the service economy rose slightly faster than expected. Source: Trading Economics
The Nikkei 225 Index surged 0.9% to around 37,500, while the broader Topix Index gained 1.1% to 2,711 on Monday, recovering some of last week's losses, supported by Wall Street's strong finish on Friday. However, investors remained cautious ahead of the March 4 deadline for US President Donald Trump's proposed 25% tariffs on Mexico and Canada, along with an additional 10% duty on Chinese goods. Geopolitical concerns also remained, as Trump and Ukrainian President Volodymyr Zelensky failed to reach an agreement on Friday that could potentially end the war in Ukraine. Domestically, Japan's...
Asia-Pacific markets were set to rise Monday as investors awaited clarity about U.S. President Donald Trump's plans to impose impose tariffs this week on key U.S. trading partners. U.S. Commerce Secretary Howard Lutnick reportedly told Fox News on Sunday that the exact tariff that will be levied against Mexico and Canada starting Tuesday is still "fluid," which means it could be lower than the proposed 25%. He added that the additional 10% duty on China imports is "set." Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 37,745 while its...
US stocks closed higher on Friday, with the S&P 500 and Nasdaq each up 1.6%, while the Dow gained 601 points. Investors weighed a tense exchange between President Donald Trump and Ukraine's Volodymyr Zelenskyy in the Oval Office. Vance called Zelensky "disrespectful," while Trump accused Zelensky of "gambling with World War III." Trump's tariff threats also rekindled warnings of retaliation from China, raising uncertainty, especially in Big Tech. Economic data sent mixed signals: Core PCE inflation eased to 2.6% as expected, but consumer spending unexpectedly fell 0.2% in January. Nvidia...
European stocks pared early morning gains but still closed slightly lower on Friday, ending a volatile week as markets continued to assess the impact of U.S. tariffs on the EU on the European economy. The Eurozone STOXX 50 fell 0.4% to close at 5,451, not too far from a record high hit last week, while the STOXX 600 closed just below the flatline at 557, just below Wednesday's all-time high. Technology stocks led the declines as markets weighed the cautious outlook for the U.S. tech sector and potential tariffs from Washington, with ASML and Infineon down 3-1% and 2.2% respectively. In turn,...
The S&P 500 hovered around the flatline, the Nasdaq fell about 0.6% and the Dow Jones gained nearly 90 points on Friday, with the tech sector remaining under pressure and traders digesting the latest PCE report and escalating trade tensions. Nvidia shares dropped 2%, extending the previous session's sell-off after its quarterly results failed to impress investors. Also, Broadcom was down 0.8%, Tesla fell 0.9%, and Oracle slipped 2%. Meanwhile, PCE price data aligned with expectations, with annual rates easing slightly. This provided some relief over inflationary pressures and reinforced...
European markets opened in negative territory on Friday, after U.S. President Donald Trump threatened once again to slap tariffs on the EU and followed through with new levies on Canada and Mexico. The pan-European Stoxx 600 index was 0.5% lower during early trade, with almost every sector losing ground. All major bourses saw losses, with France's CAC 40 and the German Dax both down more than 0.5%. Regional markets ended Thursday's session lower after Trump threatened to impose 25% duties on imports from the EU, saying the tariffs would be announced "very soon" and apply to "cars and...
The Hang Seng plunged 777 points, or 3.3%, to close at 22,941 on Friday, falling for a second day after the U.S. slapped 10% tariffs on Chinese imports, adding to the 10% tariffs imposed on Feb. 4 to bring the total to 20%. In response, China vowed to take all "necessary" countermeasures, further escalating tensions between the two countries. The market extended its decline from a three-year high, down 2.3% weekly, as losses hit all sectors. The tech index plunged 5.3% after Nvidia's disappointing earnings, prompting profit-taking in stocks such as Horizon Robotics (-14.0%), Sunny Optical...
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....