Federal Reserve Governor Christopher Waller said on Thursday he continues to believe the U.S. central bank should cut interest rates at the end of this month amid mounting risks to the economy and the strong likelihood that tariff-induced inflation will not drive a persistent rise in price pressures. "It makes sense to cut the FOMC's policy rate by 25 basis points two weeks from now," Waller told a gathering of the Money Marketeers of New York University. "I see the hard and soft data on economic activity and the labor market as consistent: The economy is still growing, but its momentum...
(Hong Kong) In the latest trading session, the Hang Seng Index opened with a 3-point increase or 0.01%, reaching 23,385 points. The Hang Seng China Enterprises Index rose by 18 points or 0.21% to 8,488 points, while the Hang Seng TECH Index climbed by 26 points or 0.51%, hitting 5,209 points. Tech stocks displayed varied developments with Tencent up by 0.2%, Alibaba by 0.1%, Meituan down by 0.8%, Xiaomi Group post-earnings increase of 2.3%, JD.com down by 0.8%, and Kuaishou post-earnings surge of 6.4%. Across the financial sector, HSBC Holdings dropped by 0.3%, AIA Group fell by 0.4%,...
Asia-Pacific markets climbed Wednesday, tracking Wall Street gains on investor optimism after U.S. President Donald Trump extended the deadline for a 50% tariff on European Union imports until July 9. Japan's benchmark Nikkei 225 rose 1.06%, while the Topix added 0.88%. South Korea's Kospi rose 0.65% and the small-cap Kosdaq Index advanced 0.53%. Australia's S&P/ASX 200 rose 0.21%. Hong Kong's Hang Seng index rose 0.25% at the open, while mainland China's CSI 300 climbed 0.21%. Australia's inflation rate rose 2.4% in April, unchanged since February but higher than the median estimate...
The Nikkei 225 Index jumped 0.8% to above 38,000 while the broader Topix Index gained 0.6% to 2,786 on Wednesday, marking the fourth consecutive session of gains, supported by a decline in both Japanese government bond yields and the yen, which eased pressure on equities. The move followed reports that Japan's Ministry of Finance plans to scale back issuance of super-long-term bonds, aiming to contain rising yields. This comes after last week's lackluster 20-year bond auction, which drew the weakest demand in over a decade. Japanese markets also took cues from a strong overnight...
US stocks closed sharply higher on the first trading day of the week, following a rally in Treasury securities as the market eased concerns that a renewed trade war could hurt corporate prospects. The S&P 500 rose 2% while the Dow jumped 1.8% and the Nasdaq 100 gained 2.4%. President Donald Trump delayed 50% tariffs on the European Union until July 9 and sounded a positive tone about the possibility of a trade deal to avoid new obstacles. Meanwhile, long-dated Treasuries enjoyed some respite as Japan signaled it would reduce issuance of long-curve notes, helping credit-sensitive stocks...
European stocks closed higher on Tuesday, extending their sharp gains from the previous session amid easing trade war concerns with the United States and fresh support from the defense sector. The STOXX 50 gained 0.6% to close at 5,425 and the pan-European STOXX 600 gained 0.5% to 553. U.S. President Trump said European Union officials were rapidly holding talks for a trade deal with the U.S., aiming to roll back tariffs imposed by the White House and adding to the president's positive rhetoric on trade that had sent stocks sharply higher in the previous session. On the economic front,...
According to a statement by the Federal Reserve (Fed), Fed Chair Jerome Powell met with United States (US) President Donald Trump on Thursday, where the head of the Fed reiterated that the Fed's...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...