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...
India is struggling to cope with the economic fallout from President Donald Trump's tariff threats, which have left officials in New Delhi shocked, disappointed, and unsure how to respond. Trump's harsh language, calling India's economy "dead," its tariff barriers "obnoxious," and its people indifferent to the plight of the Ukrainian people, was like a slap in the face, according to an official in New Delhi, who asked not to be named because the discussions were private. Officials don't have a pattern for dealing with this kind of public attack, the person said, adding that the latest...
President Donald Trump said on Tuesday that the US and China are "very close" to extending their trade truce, which has curbed tariff escalation and eased restrictions on rare earth metals and technology exports. Trump added that he would meet with Chinese President Xi Jinping before the end of the year if a deal is reached. The current truce is set to expire on August 12. Last week, US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held talks in Stockholm, the third round in less than three months. Without a deal, global supply chains are likely to face renewed...
President Donald Trump announced Tuesday that Scott Bessent has declined consideration for Federal Reserve Chair while praising "both Kevins" - Kevin Warsh and Kevin Hassett - as "very good" candidates for the position. Speaking on CNBC, Trump reiterated his criticism that current Fed Chair Jerome Powell has been "too late to cut rates" and mentioned he has "two other people aside from the two Kevins in mind" for the position. The president warned he would impose a 35% tariff on European Union goods if the bloc "doesn't meet obligations" following recent trade deals with the EU and...
The ISM Services PMI unexpectedly fell to 50.1 in July 2025 from 50.8 in June, below forecasts of 51.5. The reading showed the services sector nearly stagnated, with seasonal and weather factors having a negative impact on business. A slowdown was seen for business activity/production (52.6 vs 54.2), new orders (50.3 vs 51.3) and inventories (51.8 vs 52.7). Also, price pressures intensified to the highest since October 2022 (69.9 vs 67.5), with the most common topic among survey panelists remaining tariff-related impacts, particularly in commodities. In addition, employment fell faster...
President Donald Trump said Treasury Secretary Scott Bessent told him he did not want to be nominated to replace Jerome Powell as the next chair of the Federal Reserve. "I asked him just last night, is this something you want? Nope, I want to stay where I am," Trump said Tuesday in an interview with CNBC. "He's doing a great job, and he wants to do what he's doing, so I just take him off. He does not want it," Trump continued. "He likes being Treasury secretary. He's doing a really good job." Trump said he was considering four candidates — including former...
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...