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...
FOMC Governor Michelle Bowman indicated that if inflation pressures stay contained, she would be in favour of lowering the policy rate at the next meeting to align it more closely with its neutral setting and maintain a healthy labour market. Open to cutting rates as soon as the July FOMC meeting if inflation pressures stay contained.Should put more weight on downside risks to the job market going forward. It is time to consider adjusting the policy rate.Trade policy only likely to have ‘minimal impacts' on inflation. Data not showing much impact from trade policy shifts.Government policy...
The economic activity in the US' private sector continued to expand at a healthy pace in June, with the S&P Global Composite Purchasing Managers Index coming in at 52.8 (flash estimate), down slightly from 53 in May. In the same period, the Manufacturing PMI held steady at 52, while the Services PMI edged lower to 53.1 from 53.7. Both of these prints came in better than analysts' estimates. Assessing the survey's findings, "the June flash PMI data indicated that the US economy continued to grow at the end of the second quarter, but that the outlook remains uncertain while inflationary...
The S&P Global UK Services PMI rose to 51.3 in June 2025, from 50.9 in May and in line with market estimates, according to flash estimates. The latest data indicated another expansion in the country's services sector that was the strongest in three months. There was a rebound in new business intakes, but the rise was only slight, while exports continued to fall. Employment also continued to decrease. Source: Trading Economics
The United States (US) carried out airstrikes on three nuclear sites in Iran early Sunday, directly entering Israel's war with Iran despite US President Donald Trump's long-standing pledge to avoid new foreign conflicts, according to Bloomberg. The decision to directly involve the US comes more than a week after Israel attacked Iran. Trump said Iran's main nuclear enrichment facility had been "totally destroyed" and warned of a "much bigger" attack unless Iran agreed to peace. Trump noted that the US and Israel were "working as a team, as probably no team has ever worked before. He added...
British retail sales volumes recorded their sharpest drop since December 2023 last month, as demand fell after shoppers splurged on food, summer clothes and home improvements the month before, official figures showed on Friday. Retail sales volumes dropped by 2.7% in May, the Office for National Statistics said, a much sharper decline than the median forecast of 0.5% in a Reuters poll. Sales volumes were also 1.3% lower than a year earlier, the biggest annual drop since April 2024 and well below a Reuters poll forecast for 1.7% annual sales growth. The monthly decline was mainly due to...
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...