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 in early Asian hours, 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 she still thinks it's reasonable for policymakers to plan on two interest-rate cuts this...
The Nikkei 225 Index climbed 0.13% to 39,200, while the broader Topix Index advanced 0.2% to 2,765 on Monday, recovering some of the losses from the previous session as investors responded positively to Japan's better-than-expected economic growth figures. The country's economy expanded by 0.7% quarter-on-quarter in the fourth quarter, up from 0.4% growth in the prior quarter and surpassing expectations of 0.3%. On an annualized basis, Japan's GDP grew 2.8% in Q4, matching forecasts and accelerating from a 1.7% expansion in Q3. Despite the positive data, investor sentiment remained cautious...
Asia-Pacific markets opened mostly higher Monday, as investors parsed Japan's fourth-quarter economic growth data, while awaiting a slew of central bank decisions from the region this week. Japan's Nikkei 225 traded around the flatline, while the Topix added 0.15%. South Korea's Kospi added 0.18% andthe small-cap Kosdaq added 0.35%. Japan's economic expansion in the fourth quarter beat analysts' expectations for quarter-on-quarter and annualized growth, preliminary government data showed Monday. On an annualized basis, GDP grew 2.8%, exceeding the Reuters estimates of 1%.The Japanese yen...
Stocks were little changed on Friday after a strong week, as investors digested the latest news on global trade and inflation. The Dow Jones Industrial Average fell 101 points, or 0.2%. The S&P 500 rose 0.1% and the Nasdaq Composite rose 0.3%. Stocks were on track to end the week in the green, as sentiment improved after investors gained more certainty about President Donald Trump's tariff plans, while fresh inflation data turned out to be more constructive than previously expected. Traders also shrugged off data released Friday that showed a 0.9% drop in retail sales for January,...
European stocks closed lower on Friday, easing from record highs hit in the last session but still sharply higher for the week as markets continued to assess the chances of peace in Ukraine this year and the impact of potential tariffs from U.S. President Trump. The euro zone STOXX 50 fell 0.2% to close at 5,488 after hitting a record high for the first time in 25 years yesterday, while the pan-European STOXX 600 fell 0.3% to 552. Trump announced plans for reciprocal tariffs on a country-by-country basis, which will come into effect as early as April. Healthcare and insurance companies led...
The three major averages in the US swung around the flatline on Friday, as traders digest much weaker-than-expected retail sales that raised concerns about the strength of the US consumer spending. Retail sales declined 0.9% last month and the control sales which is used to calculate GDP declined 0.8%. Consumer spending was likely hit by harsh weather and wildfires in LA. Meanwhile, President Trump signed a directive instructing the US Trade Representative and Commerce Secretary to propose new country-specific tariffs. Investors await further details and remain hopeful that negotiations...
Hong Kong stocks surged more than three percent on Friday, in line with a global rally fuelled by relief over the timeline of US President Donald Trump's latest tariffs. Sentiment was also boosted by a Bloomberg report that China had invited Alibaba co-founder Jack Ma and other entrepreneurs for a meeting with top brass, fuelling hopes of further support for the country's private sector. The Hang Seng Index jumped 3.69 percent, or 805.96 points, to 22,620.33. The president said Thursday he decided to impose fresh reciprocal duties on trading partners, telling reporters that US allies were...
European stock markets opened lower on Friday after hitting record highs earlier this week. The pan-European Stoxx 600 index moved 0.1% lower when markets opened. The U.K.'s FTSE 100 was down by 0.25%, and Germany's DAX was lower by 0.3%. Meanwhile, France's CAC 40 opened flat. Asia-Pacific markets were mixed Friday, after Wall Street rose overnight as President Donald Trump signed a reciprocal tariffs plan, but did not enact the levies immediately. Mainland China's CSI 300 Index rose 0.86%, while Hong Kong's Hang Seng index surged 3.06%, extending its gains from the previous...
Japan stocks were lower after the close on Friday, as losses in the Textile, Transportation Equipment and Chemical, Petroleum & Plastic sectors led shares lower. At the close in Tokyo, the Nikkei 225 fell 0.79%. The best performers of the session on the Nikkei 225 were Toppan Printing Co., Ltd. (TYO:7911), which rose 15.52% or 632.00 points to trade at 4,703.00 at the close. Meanwhile, Sony Corp (TYO:6758) added 8.65% or 295.00 points to end at 3,705.00 and Trend Micro Inc. (TYO:4704) was up 6.77% or 735.00 points to 11,595.00 in late trade. The worst performers of the session were...
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....