Asia-Pacific markets traded higher, tracking Wall Street gains overnight. Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South Korea's Kospi climbed 0.83%, and the small-cap Kosdaq jumped 0.65%. Australia's benchmark S&P/ASX 200 added 0.41%. Futures for Hong Kong's Hang Seng index stood at 26,464, higher than its last close of 26,086.32. Equities in several parts of the world have been rallying as easing inflation pressures and expectations for U.S. rate cuts boost investor sentiment. "Momentum and the promise of...
Beijing and Washington maintained high-level contact with a call on Thursday between U.S. Deputy Secretary of State Christopher Landau and China's Executive Vice Foreign Minister Ma Zhaoxu, signaling ongoing communication following their recent trade truce. According to the U.S. State Department, the two officials "discussed a wide range of issues of mutual interest" and "exchanged thoughts on crucial issues," though no specifics were provided. Both sides underscored the importance of the bilateral relationship and agreed to keep lines of communication open. The call comes amid renewed...
Britain's consumers turned a bit more confident in May, according to a survey published on Friday that might reflect the impact of falling interest rates and an easing of global trade tensions. Market research firm GfK's consumer confidence index rose to -20 in May from -23 in April, led by more optimism among households over the outlook for their finances and the wider economy. A Reuters poll of economists had pointed to a smaller increase to -22. Neil Bellamy, consumer insights director at GfK, said consumers may have breathed a sigh of relief from the Bank of England's May 8 interest...
US Treasury yields fell on Thursday (5/23) after the 30-year US bond yield hit a 19-month high amid concerns about a widening US fiscal deficit, as Trump's "One Big Beautiful Bill" passed the US House and heads to the Senate. Longer-term Treasury yields fell as Trump's tax-heavy budget passed the House, pushing fiscal concerns to the forefront The US House of Representatives approved Trump's budget by a single vote on Thursday. The proposal, which would provide tax breaks on tips and loans on cars – made in the US – is expected to increase the deficit by $3.8 billion, according to the...
The S&P Global US Services PMI rose to 52.3 in May of 2025 from the 17-month low of 50.8 in the previous month, ahead of market expectations of 50.8, according to a flash estimate. Businesses received higher amount of new orders in the period despite the aggressive drop in orders from foreign markets, which was the sharpest on record when excluding the pandemic, indicating that tariffs and unpredictable economic policy by the government continued to impact businesses. The uncertainty and softer demand for capacity drove service providers to trim their employment levels for the second...
The S&P Global Flash US Manufacturing PMI increased to 52.3 in May 2025, the highest in three months, compared to 50.2 in April and beating forecasts of 50.1. The reading signalled the strongest improvement in business conditions since June 2022, as factory production moved back into expansion territory after two months of decline, and new order growth hit a 15-month high. However, the biggest positive contribution came from inventories, which rose to the greatest extent recorded since the survey began in 2009. Longer delivery times – which are typically associated with busier...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
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...
Less than four months ago, President Donald Trump met with Qatar's leader, praised his magnificent palace, and signed a comprehensive defense agreement with the Gulf monarchy, a key ally that hosts...