Gold (XAU/USD) Gold (XAU/USD) regains ground on Friday, edging modestly higher after earlier weakness, even as a resilient US Dollar (USD) caps upside momentum. At the time of writing, XAU/USD trades around $4,345, recovering from a daily low near $4,309. The precious metal briefly surged toward record highs on Thursday after US inflation data undershot expectations. However, gains quickly faded as softer inflation lifted risk appetite across equity markets and pushed Gold back within the range established earlier this week. That said, the downside appears limited, as a dovish Federal...
Japanese stocks are lower in early trade as caution over earnings and domestic politics continue. Chip and bank stocks are leading the declines. Lasertec is down 5.6% and Resona Holdings is 1.6% lower. Meanwhile, a weaker yen is offering some support for the market. USD/JPY is at 150.85, compared with 148.75 as of Thursday's Tokyo stock market close. Investors are closely watching quarterly corporate results as well as any domestic political developments. Mitsubishi Chemical Group and Hoya Corp. are due to announce their earnings later in the day. The Nikkei Stock Average is down 0.5% at...
Asia-Pacific markets fell Friday after U.S. President Donald Trump modified "reciprocal" tariff rates on several countries, with updated duties ranging from 10% to 41%. Asia-Pacific markets started the day lower Friday. Japan's Nikkei 225 benchmark fell 0.65%, while the broader Topix index was flat as of 8:15 a.m. Singapore time (8:15 p.m. ET Thursday). In South Korea, the Kospi index dropped 1.73%, while the small-cap Kosdaq declined by 2.1%. Over in Australia, the S&P/ASX 200 benchmark fell 0.94%. Source: CNBC
The three US indices closed lower on Thursday, as gains in Microsoft and Meta failed to lift the broader market amid renewed trade uncertainties and economic concerns. The S&P 500 fell 0.5%, marking its third consecutive loss, while the Nasdaq 100 slipped 0.4%. The Dow dropped 330 points, dragged down by losses in healthcare stocks. Market sentiment was dented by President Trump's decision to extend a 25% tariff on Mexican imports and looming deadlines for broader trade actions. The Fed's preferred inflation gauge, the core PCE, rose 0.3% in June and 2.8% from a year earlier, adding to...
The European stock markets closed lower in Thursday trading as the FTSE 100 in London slid 0.05%, Germany's DAX dropped 0.73%, France's CAC 40 fell 1.14%, The Stoxx Europe 600 slipped 0.71%, and the Swiss Market Index lost 0.8%. The seasonally-adjusted unemployment rate in the eurozone stood at 6.2% in June, unchanged from a revised figure in May, according to Eurostat data. In Germany, import prices dropped 1.4% year-over-year in June after a 1.1% fall in May, according to the country's Federal Statistical Office. German import prices were unchanged on a monthly basis. In corporate news,...
The Hang Seng Index plunged 404 points, or 1.6%, to close at 24,773 on Thursday (July 31), marking its third consecutive decline and its lowest close in two weeks. Sentiment worsened after China's official PMI showed services activity grew at its slowest pace in eight months and factory output fell the most in six months, amid rising trade barriers and extreme weather. Meanwhile, US President Trump's "reciprocal" tariff suspension is set to expire on Friday, with only eight trade deals reached in the past 120 days. On the monetary front, Fed Chairman Powell dismissed expectations of a...
Both the STOXX 50 and STOXX 600 rose 0.3% on Thursday (July 31st), as corporate earnings remained in focus. Shell shares rose 2.9% after reporting a profit decline that still beat expectations, while Unilever rose 0.2% on stronger-than-expected sales. Upbeat earnings from Microsoft and MetaTrader also supported sentiment, lifting SAP (+1.8%) and ASML Holding (+1.4%). Meanwhile, Sanofi shares fell 2.2% after its earnings missed, and AB InBev shares plunged nearly 10% after the world's largest brewer reported declining volumes, particularly in Brazil and China. Credit Agricole fell 1.7% as...
The Nikkei 225 Index rose 1.02% to close at 41,070, while the broader Topix Index gained 0.81% to 2,944 on Thursday, recovering losses from earlier in the week after the Bank of Japan left interest rates unchanged in a unanimous decision, as widely expected. This marks the fourth consecutive meeting the BOJ has paused following its 25 basis-point hike to 0.5% in January. Japanese stocks also took cues from stronger US futures, supported by upbeat earnings from tech giants Meta Platforms and Microsoft. Meanwhile, investors continued to watch trade developments after the US finalized a...
(Hong Kong) On the final trading day of July, the Hang Seng Index opened 194 points, or 0.77%, lower at 24,982. The China Enterprises Index fell by 61 points, or 0.68%, to 8,976, while the Technology Index declined 31 points, or 0.58%, to 5,458. WuXi AppTec saw its share price drop 4% after a discounted share placement. Technology stocks broadly weakened, with Meituan leading the decline, falling 3.06%. Alibaba slipped 0.95%, Xiaomi Group dropped 0.82%, Trip.com Group eased 0.57%, and Tencent edged down 0.36%. Financial stocks also displayed weakness. HSBC Holdings extended its losses by...
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....