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...
When President Donald Trump launched his tariff blitz, economists warned of soaring inflation as costs hit consumers. The hit was delayed by corporate countermeasures, but now early signs of tariff-driven price hikes are emerging, and Morgan Stanley warns the full inflation punch is coming, forcing businesses to rethink hiring and spending. "Recent inflation data show goods prices firming as tariffs feed through, essentially acting as a tax on consumption and production," Morgan Stanley economists said in a recent note, highlighting growing cost pressures squeezing corporate margins. The...
US manufacturing activity in August surged to 53.3 (above 50 = expansion), the highest since May 2022. Surging demand boosted production and a buildup of backlogs, lifting the Composite PMI (a combination of manufacturing and services) to its highest level this year. However, despite the strengthening performance, companies admitted they were struggling to meet accelerating sales. Survey details show factory output and backlogs rose to their highest levels since mid-2022, while new orders reached their highest levels since February 2024. Responding to strong demand, manufacturers are again...
Unemployment claims rose 11,000 to 235,000 in the week ending August 16, compared with the median estimate of 225,000, according to Labor Department data. Estimated range: 220,000-235,000 from 40 economists. The previous week's claims were unrevised from 224,000. The 4-week moving average was 226,250 in the week ending August 16. Actual unadjusted initial claims were 194,900 vs. 199,400 in the previous week. Continuing claims rose 30,000 to 1.972 million in the week ending August 9. Highest level since 2021 (alg) Source: Bloomberg
Russia attacked a civilian factory in western Ukraine owned by the US company Flex Ltd, causing a massive fire and injuring at least 15 people. Local authorities said that at approximately 4:40 a.m. local time, two Russian cruise missiles struck the company's premises in Mukachevo. "It was an ordinary civilian business, supported by American investment, producing everyday goods like coffee machines," Ukrainian President Volodymyr Zelenskiy said on social media Thursday. Russia resumed its large-scale attacks deep inside Ukraine after a three-week pause ahead of Russian President Vladimir...
Recent data shows the UK economy recorded its fastest growth rate in a year, supported by a solid services sector, although the manufacturing sector is still experiencing contraction. The Flash Services PMI for August 2025 surged to 53.6, well above the forecast of 51.8 and a significant increase from 51.8 in July. This increase pushed the Composite PMI - a combination of the services and manufacturing sectors - up to 53.0, its highest level since August 2024. A reading above 50 indicates expansion in economic activity. Conversely, the Flash Manufacturing PMI fell to 47.3, lower than...
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...