India defended its oil imports from Russia on Monday, calling U.S. and European Union criticism "unjustified and unreasonable" following U.S. President Donald Trump's decision to raise tariffs on the country. "Like any major economy, India will take all necessary measures to safeguard its national interests and economic security," Foreign Ministry spokesperson Randhir Jaiswal said in a statement. Jaiswal explained that India began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict. He noted that the U.S. had "actively encouraged...
US stocks were higher on Monday, erasing most of the losses from the previous session as markets reconsidered fears that the conflict between Israel and Iran would trigger global economic shocks. The S&P 500 and the Dow were around 0.7% higher, while the tech-heavy Nasdaq 100 added more than 1%. Hostilities between Tehran and Tel-Aviv persisted after exchange of strikes, but softer concerns that allies would join the conflict or that strikes would hamper global energy supply supported a rebound in risk sentiment. On the macroeconomic front, the FOMC is set to hold rates this week and...
The Hang Seng rose 168 points or 0.7% to close at 24,061 on Monday, reversing early losses and posting its first gain in three sessions. Property stocks led gains after Guangzhou plans to ease home-buying curbs and price controls. Consumers and financials also strengthened, as China's consumer spending surged in May, due to holiday-driven demand. A jump in U.S. futures also boosted sentiment, ahead of the Fed's interest rate decision Wednesday. While the central bank is widely expected to hold rates steady for the fourth straight meeting, mounting Middle East tensions and rising oil prices...
European stocks opened broadly higher, with the regional Stoxx 600 index up 0.15%, the U.K.'s FTSE 100 up 0.27%, and France's CAC 40 and Germany's DAX both up around 0.35%. Markets at least initially recovered from Friday's negative trading as Israel and Iran traded airstrikes, stoking fears of a prolonged and deadly conflict. European oil and gas stocks on the Stoxx 600 rose 1.1% amid a surge in crude prices. (alg) Source: CNBC
The Nikkei 225 index rose 1.26% to close at 38,311 while the broader Topix index gained 0.75% to 2,777 on Monday, reversing losses from the previous session as investors appeared to downplay rising geopolitical risks in the Middle East. Clashes between Israel and Iran continued over the weekend, with both sides targeting energy infrastructure and pushing up oil prices. Local equities also benefited from a weaker yen that boosted the profit outlook for Japan's export-heavy industries. Meanwhile, investors' focus shifted to the Bank of Japan's upcoming policy meeting. The central bank is...
The Hang Seng Index started weakly, down 100 points, or 0.42%, to close at 23,791 points. The H-share index fell 32 points, or 0.37%, to close at 8,622 points, while the technology index dropped 32 points, or 0.61%, to 5,207 points. Tech shares showed a general weakening trend with Tencent down 0.5%, Alibaba 0.8%, Meituan 1.3%, Xiaomi unchanged, and Kuaishou down 0.3%. Financial shares were on a downward trajectory with HSBC Holdings down 0.4%, AIA Group 0.2%, China Ping An unchanged, and Hong Kong Stock Exchanges and Clearing down 1.1%.(alg) Source: Dimsumdaily Hong Kong
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
It...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
The European Union will suspend its two packages of countermeasures to U.S. tariffs for six months following a deal with U.S. President Donald Trump, a Commission spokesperson said on Monday.
The...