Gold (XAU/USD) retreats slightly after touching a fresh all-time high earlier this Tuesday, though any meaningful corrective slide seems elusive amid a supportive fundamental backdrop. The US Dollar (USD) attracts some buyers for the second straight day and turns out to be a key factor undermining demand for the commodity. Apart from this, the underlying bullish sentiment contributes to capping the safe-haven bullion amid still overbought conditions on short-term charts. However, the growing acceptance that the US Federal Reserve (Fed) will lower borrowing costs two more times this year...
The Hang Seng rose 36 points or 0.2% to end at 22,008 on Tuesday, mainly helped by strength in tech and financials after a muted prior session. Markets trimmed early gains, amid caution ahead of April's official PMI data in China that will be due Wednesday. Investors continued to await more clarity on U.S. tariff plans and their potential impact on China. Beijing Monday held off on new stimulus but reiterated support for exporters and workers affected by U.S. tariffs and said contingency plans for the economy are in place. Meantime, mainland markets will be closed from May 1 for a 5-day...
European markets were mixed on Tuesday as investors assessed a wave of earnings for signs of how US tariffs and global uncertainty are affecting companies. The Stoxx 50 was down 0.2% while the Stoxx 600 rose 0.2%, though the autos sector slipped 0.4%, led by Volvo Cars, which reported a sharp drop in Q1 profit and suspended its full-year guidance. The Swedish automaker also announced SEK 18 billion ($1.87 billion) in cost cuts. Porsche fell 7.4% after cutting its sales and margin forecasts, citing US tariffs. In banking, HSBC beat Q1 estimates despite year-on-year declines in profit and...
Hong Kong equities rose 123 points or 0.6% to 22,095 in Tuesday's morning session, rebounding from a muted day as a modest rise in U.S. futures lifted sentiment. Gains came as investors awaited more earnings reports following a volatile Wall Street session overnight. China's commitment on Monday to aid exporters and workers impacted by U.S. tariffs continued to boost confidence, complemented by contingency plans aimed at bolstering the broader economy. On the trade front, Hong Kong's exports surged 18.5% yoy in March—the strongest growth in over a year and the highest value in three years—as...
Asia-Pacific markets had a sluggish open as investors awaited the extent of the impact of U.S. President Donald Trump's tariffs on corporate earnings and economic data expected from Wall Street this week. Market watchers were also closely monitoring developments surrounding trade deal negotiations between the U.S. and countries in the region. Australia's benchmark S&P/ASX 200 started the day 0.38% higher. Over in South Korea, the Kospi index was down 0.13% while the small-cap Kosdaq added 0.43%. Futures for Hong Kong's Hang Seng index stood at 21,999, pointing to a slightly higher...
U.S. stocks ended mixed on Monday as Wall Street braced for a packed week of big-name earnings and key economic data. The S&P 500 rose about 0.1% and the Dow Jones Industrial Average gained 0.3%, with both indexes posting their fifth straight session of gains, while the Nasdaq 100 fell 0.1%, weighed down by early losses before a late-session rebound in Big Tech. Investors remain focused on upcoming quarterly results from Amazon, Apple, Meta Platforms and Microsoft, as well as signs of how President Trump's sweeping tariffs are affecting the company's outlook. While earnings have largely...
European markets closed higher on Monday, as investors digested a slew of key earnings and data releases in both Europe and the U.S. this week. The Stoxx 600 closed provisionally higher by 0.5%, with travel and banking sectors leading gains. Regionally, the FTSE 100 closed up 0.02% — its 11th straight day of gains and its best gain since late 2019. France's CAC 40 and Germany's DAX rose 0.5% and 0.06%, respectively. Top posts Deliveroo shares jump after DoorDash bid as company suspends share buybacks | see post Mediobanca makes $7.2 billion takeover bid for Banca Generali | see...
The three major averages in the US kickstarted the week in the green with the S&P adding around 0.3%, Dow Jones adding 200 points and the Nasdaq swinging between small gains and losses, amid a confluence of earnings optimism, softer borrowing costs and manageable commodity prices provided support. Anticipation of upside surprises from mega cap tech names—Microsoft, Apple and Amazon are widely expected to report strong top- and bottom-line beats alongside aggressive share-buyback and dividend plans—helped offset lingering trade-war jitters following conflicting U.S. and Chinese...
The Hang Seng finished flat at around 21,981 on Monday, as traders digested a key press briefing in China following Friday's Politburo meeting. Officials promised to support exporters and workers affected by U.S. tariffs while preparing contingency plans for the broader Chinese economy. The muted session followed modest losses in early trade, with strength in financials and tech offsetting weakness in property and consumers, after Beijing refrained from rolling out fresh stimulus, indicating that further actions would be launched as the situation evolves. Meanwhile, U.S. futures fell...
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....