The dollar headed for a second straight weekly gain against major peers, buoyed by some solid U.S. economic data that supported the view the Federal Reserve can afford to wait a while longer before cutting interest rates again. The yen remained on the back foot heading into upper house elections on Sunday in Japan, with polls suggesting the ruling coalition is at risk of losing its majority - a development that would stir policy uncertainty and complicate tariff negotiations with the U.S. Bitcoin hovered just above $120,000, after this week pushing to an all-time peak of $123,153.22, with...
Asia-Pacific markets traded mixed Tuesday as investors assessed U.S. President Donald Trump's tariff campaign.Trump on Monday signed an order imposing 25% tariffs on imports of steel and aluminum into the U.S.Australia's S&P/ASX 200 traded around the flatline.South Korea'sKospi rose 0.72%, while the small-cap Kosdaq climbed 0.35%.Hong Kong's Hang Seng Index slipped 0.56%, while the mainlan China's CSI 300 dipped 0.36%.Japan markets were closed for a holiday.Singapore's benchmark Straits Times Index slipped 0.44% after it hit an all-time intraday high of 3,910.12 on Monday.India's...
The Hong Kong stock market fell by 92 points or 0.4% to 21,434 during Tuesday morning trading, marking its first drop in four sessions amid cautious sentiment following President Trump's announcement of a global 25% tariff on US imports of steel and aluminum, set to take effect on March 4. Markets retreated from their highest since early October, as traders adopted a vigilant stance ahead of this week's key US inflation data and Fed Chair Powell's testimony before Congress. Most sectors dropped, with tech, property, and consumers slipping the most. Further losses were capped by optimism...
Asia-Pacific markets opened higher Tuesday, tracking gains on Wall Street that appeared to look past U.S. President Donald Trump's tariff campaign.Trump on Monday signed an order imposing 25% tariffs on imports of steel and aluminum into the U.S.Australia's S&P/ASX 200 traded 0.24% higher. South Korea's Kospi rose 0.36%, while the small-cap Kosdaq traded around the flatline.Hong Kong's Hang Seng index futures were at 21,576, slightly stronger than the HSI's last close of 21,521.98.Japan markets were closed for a holiday.Investors will also be keeping an eye on Singapore markets after the...
Stocks rose on Monday as major technology names outperformed to start the week, while traders shrugged off President Donald Trump's latest U.S. tariff threats. The Dow Jones Industrial Average was trading about 167 points higher, or nearly 0.4%, led by a roughly 4% gain in McDonald's. The S&P 500 was up 0.67%, and the Nasdaq Composite was up about 0.98%. Markets remained jittery on a mix of inflation concerns coupled with worries about how Trump's tariff plans could hurt the U.S. economy. Trump told reporters Sunday that he plans to announce a blanket tariff of 25% on all steel and...
US stocks were higher to kick off the week, with the S&P 500 rising 0.5%, the Nasdaq adding 0.7% and the Dow Jones gaining about 270 points, with traders digesting fresh tariffs and awaiting key economic data and Fed Chair Powell's testimony to Congress. President Trump announced plans to impose 25% tariffs on all imports of steel and aluminum into the US and said new reciprocal tariffs would also be announced this week. Steel-related companies got a boost on the news, namely Cleveland-Cliffs (14.2%), Nucor (6.2%), Steel Dynamics (4.3%), US Steel Corp (4%), and Alcoa...
The Hang Seng soared 388 points or 1.8% to end at 21,522 on Monday, rising for the third session and notching their highest level since early October amid widespread sector gains. Concerns about China's deflation notably eased after Sunday's data showed consumer inflation hit a 5-month high due to solid holiday spending. In addition, worries about trade row between China and the US waned, with many traders viewing US tariff threats as negotiation tactics. The tech index climbed over 2.5% on continued optimism around China's AI tech. Meanwhile, China's three largest telecom operators --...
Major bourses in Europe kicked off the week slightly higher, with both the STOXX 50 and the STOXX 600 adding about 0.2%, as traders try to shrug off concerns about the trade war. President Donald Trump announced plans to impose 25% tariffs on all imports of steel and aluminum into the US and said new reciprocal tariffs would also be announced this week. This came as China's retaliatory tariffs on select US exports are set to take effect today, while German Chancellor Olaf Scholz stated that the EU is ready to respond "within an hour" if the US imposes tariffs on European goods. Real...
Asia-Pacific markets fell Monday, tracking U.S. stocks futures that were lower ahead of key economic data, with escalating trade tensions denting investor sentiment. U.S. President Donald Trump told reporters Sunday that he was planning to announce a blanket 25% tariff on all steel and aluminum imports on Monday, according to Reuters. Over in Japan, the benchmark Nikkei 225 was trading flat, while the broader Topix index fell 0.16%, in choppy trading. The country reported loan growth of 3% year on year in January, falling slightly from December's 3.1%. South Korea's Kospi was flat in...
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....