US President Donald Trump renewed his threat on Monday to raise tariffs on Indian goods over its purchase of Russian oil. Meanwhile, New Delhi called Trump's attack "unprovoked" and vowed to protect its economic interests, deepening a trade rift between the two countries. In a social media post, Trump wrote, "Not only does India buy large quantities of Russian oil, but they also sell most of that purchased oil on the open market for huge profits. They don't care how many people in Ukraine are killed by the Russian war machine." "Therefore, I will substantially increase the tariffs India...
The Hang Seng Index started the day with a dip of 233 points or 0.99%, closing at 23,339 points. The state-owned enterprise index fell by 97 points or 1.13% to 8,462 points, while the technology index dropped by 66 points or 1.26% to 5,234 points. In the tech sector, Tencent experienced a 0.8% decline, Alibaba dropped by 2.5%, Meituan by 1.9%, Xiaomi Group by 1.3%, JD.com by 2.1%, and Kuaishou by 0.3%. Individual developments were noted in the financial sector, with HSBC Holdings falling by 0.5%, Prudential Insurance rising by 0.3%, China Ping An dropping by 1.1%, and Hong Kong Exchanges...
Markets and data show the U.S. economy is slowing. Stocks in Japan, Australia and South Korea fell at the open on Friday. Equity futures for the S&P 500 Index pared most of their early gains after an appeals court allowed tariffs to remain in place for now. The dollar was steady in early trading after a gauge of currency strength fell 0.4%. The yen gained against the dollar after inflation in Tokyo rose by the most in two years. A federal appeals court offered Trump a temporary reprieve from a ruling that threatened to throw out much of his tariff agenda. Adding to concerns, the U.S....
Japanese stocks fell as uncertainty over U.S. tariffs persisted. The prospect of continued Bank of Japan interest rate hikes also weighed on the market following stronger-than-expected inflation data for Tokyo in May. Chip and tech shares led the decline. Renesas Electronics fell 4.7% and SoftBank Group dropped 4.1%. USD/JPY was at 143.83, down sharply from 145.68 at the close of the Tokyo stock market on Thursday. Investors were focused on any developments related to tariffs and BOJ policymaking. The Nikkei Stock Average was down 1.6% at 37,809.74. Source: Bloomberg
US stocks edged higher on Thursday amid a mix of earnings optimism and tariff uncertainty. The S&P 500 and Nasdaq each rose 0.4%, while the Dow gained 117 points, supported by Nvidia's strong report and upbeat corporate news such as Boeing's production plans. Nvidia shares rose 3.2% after beating quarterly sales estimates, boosted by demand for AI chips despite warnings that U.S. export curbs on China could shave $8 billion off next quarter's sales. However, market gains were capped by the ongoing legal battle over President Donald Trump's tariffs. A federal court initially blocked...
European stocks erased early gains on Thursday, with the STOXX 50 closing flat at 5,377 and the STOXX 600 down slightly to 548, each up more than 1% during the session. Initial optimism following a ruling by the U.S. Court of International Trade, which found that President Donald Trump had exceeded his authority in imposing reciprocal tariffs and ordered the government to stop collecting them, faded as investors weighed the possibility that the administration would pursue alternative legal avenues to defend its trade policies. Attention also turned back to the U.S. economic outlook amid...
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...