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...
European markets moved higher at the open on Tuesday, reversing course from a four-day losing streak fuelled by red-hot global tariff tensions. The regional Stoxx 600 index was around 1% higher shortly after the opening bell, with almost every sector and all major bourses in positive territory. The index ended Monday's session around 4.5% lower, marking its lowest closing level since January 2024. Key regional indices including the U.K.'s FTSE 100, the German DAX and France's CAC 40 also all closed sharply lower. Global equity markets have been rocked by the frequent updates around U.S....
Japanese equities surged on Tuesday, with the Nikkei 225 rallying 6.03% to close at 33,012 and the broader Topix Index jumping 6.26% to 2,432, as investors welcomed signs of easing trade tensions between Japan and the US. The rebound followed news that US President Donald Trump agreed to hold trade talks with Japanese officials after a phone call with Prime Minister Shigeru Ishiba. US Treasury Secretary Scott Bessent noted that Japan would likely be prioritized for tariff relief due to its prompt engagement. Meanwhile, Japanese Finance Minister Katsunobu Kato pledged to take all necessary...
Asia-Pacific markets opened higher Tuesday, rebounding from previous session's losses over U.S. President Donald Trump's tariff policy and threats of even higher levies against China.Australia's S&P/ASX 200 added 0.18% at the open.Japan's Nikkei 225 rose 6.41% while the Topix gained 6.81%. South Korea's Kospi rose 1.7% while the small-cap Kosdaq climbed 2.35%.Hong Kong's Hang Seng Index rose 2.25%, while the Hang Seng Tech Index jumped 4.17%. Hong Kong's stock market led losses in the region on Monday, with the Hang Seng Index plummeting over 13% to log its steepest one-day decline since...
Hong Kong shares jumped 495 points or 2.5% to 20,304 in Tuesday morning trade, attempting to recover from a historic 13.2% plunge in the previous session—the steepest one-day loss since 2008. The upturn was supported by broad-based gains, led by strength in the tech and consumer sectors. Sentiment improved, buoyed by a sharp rise in U.S. futures, after Wall Street's S&P 500 posted its third consecutive loss overnight in the wake of President Trump's latest tariff announcement. Meanwhile, Beijing warned it will "fight to the end" if the U.S. moves forward with additional tariffs,...
The Nikkei 225 Index jumped 6% to around 33,000 while the broader Topix Index gained 3.5% to 2,370 on Tuesday, recouping losses from the previous session after US President Donald Trump said that he agreed to meet with Japanese officials to begin trade negotiations following a phone call with Prime Minister Shigeru Ishiba. However, volatility is expected to remain high as Trump threatened China with another 50% tariff on top of existing levies if Beijing does not lift its duties on US imports. Financial stocks led the rebound after bearing the brunt of the recent selloff, with strong gains...
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...