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 71 points or 0.3% to close at 21,981 on Friday, recovering from the previous session's declines following a strong rally on Wall Street Thursday. Sentiment also improved after PBoC Governor Pan Gongsheng reaffirmed the central bank's commitment to an "appropriately loose" monetary policy to support China's economy. Reports that Beijing may exempt some U.S. goods from its 125% tariffs also lifted the mood, as China weighs the economic toll of the trade war. For the week, the index added 2.7%, its second straight weekly gain, fueled by optimism over Beijing's move to...
The STOXX 50 rose 0.7% and the STOXX 600 gained 0.4% on Friday, marking a fourth consecutive session of gains. Both indexes were on track to end the week up approximately 3.7% and 2.4%, respectively. Investor sentiment was buoyed by easing trade tensions and a more conciliatory tone from the White House. On Thursday, President Trump stated that his administration was in discussions with China, while Bloomberg reported today that Beijing is considering suspending its 125% tariff on certain US imports, citing sources familiar with the matter. Travel and auto stocks were among the top...
Japan stocks were higher after the close on Friday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 1.95%. The best performers of the session on the Nikkei 225 were Nidec Corp (TYO:6594), which rose 12.48% or 278.50 points to trade at 2,510.50 at the close. Meanwhile, JTEKT Corp. (TYO:6473) added 8.86% or 91.50 points to end at 1,124.00 and Fujikura Ltd. (TYO:5803) was up 8.79% or 426.00 points to 5,272.00 in late trade. The worst performers of the session were Hino Motors, Ltd. (TYO:7205), which fell 5.00% or 23.30...
(Hong Kong) The Hang Seng Index opened strong, climbing 170 points or 0.77% to 22,080. Meanwhile, the China Enterprises Index rose 61 points or 0.75% to 8,117, and the Technology Index gained 62 points or 1.24% to reach 5,037. Tech stocks showed broad improvement. Tencent advanced by 1.9%, Alibaba increased by 2.1%, and Kuaishou rose 1.2%. However, Meituan lagged behind, declining by 1.1%. Xiaomi Group and JD.com recorded modest gains of 0.7% and 0.4%, respectively.The auto sector saw mixed performance. NIO surged by 6.2%, leading the pack, while XPeng Motors rose 2.2% and Li Auto gained...
The Nikkei 225 surged 1.6% to above 35,600, while the broader Topix Index gained 1.3% to 2,626 on Friday, with Japanese shares rising for the third straight session following a tech-led rally on Wall Street overnight. Investors also continued to monitor trade developments after President Trump claimed tariff talks with China were ongoing, despite Beijing's denial of any current negotiations. Meanwhile, fresh data showed Tokyo's core inflation jumped to a two-year high of 3.4% in April, complicating the Bank of Japan's efforts to navigate rising prices alongside mounting pressure from U.S....
Asia-Pacific markets rose after Wall Street gained for a third straight day as tech stocks rallied, with investors assessing the trade climate as the U.S. tones down tariff rhetoric. Japan's benchmark Nikkei 225 rose 0.91% and the Topix added 0.88%. South Korea's Kospi climbed 1.03% while the small-cap Kosdaq rose 0.6% as South Korea reportedly inches closer to striking a trade deal with the U.S. Hong Kong's Hang Seng index opened 0.75% higher while mainland China's CSI 300 inched up 0.3%. Australian markets are closed for a holiday.Futures linked to the S&P 500 were 0.3% higher,...
Stocks surged on Thursday, helped by strong gains in large-cap technology stocks, as investors continued to look for signs of progress on the global trade front. The S&P 500 ended up 2.03% at 5,484.77, while the tech-heavy Nasdaq Composite gained 2.74% to end at 17,166.04. The Dow Jones Industrial Average lagged the other two indexes, weighed down by a 6.6% drop in IBM, but still rose 486.83 points, or 1.23%, to 40,093.40. It marked the blue-chip index's first close above the 40,000 threshold since April 15. Nvidia, MetaTrader, Amazon, Tesla and Microsoft all closed higher, pushing the...
European stocks erased early losses and closed higher on Thursday (4/24) for a third straight day of gains, benefiting from a positive session on Wall Street as investors continued to assess the outlook for European companies amid potential U.S. trade restrictions. The eurozone STOXX 5o gained 0.3% to close at 5,115 and the pan-European STOXX gained 0.5% to close at 519. Rhetoric from White House officials continued to suggest that President Trump was more open to reaching a trade deal with China and avoiding a full-blown trade war with China, adding to the appeal of riskier assets around...
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....