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...
The Hang Seng dipped 227 points or around 1% to end at 21,295 on Tuesday, slipping for the first session in four amid a decline in US futures ahead of key US inflation data later this week. Sentiment was further dampened after President Trump signed an order Monday imposing a 25% tariff on steel imports and raising duties on aluminum from 10% to 25%, both effective from March 4. Most sectors fell, with tech sinking 2.7% and slipping for the third day, as optimism for AI and chip stocks waned. Capping further falls was Trump's statement that he had spoken to Chinese President Xi Jinping...
Asia-Pacific markets traded mixed Tuesday as investors assessed U.S. President Donald Trump's tariff campaign.Trump on Monday signed an order imposing 25% tariffs on imports of steel and aluminum into the U.S.Australia's S&P/ASX 200 traded around the flatline.South Korea'sKospi rose 0.72%, while the small-cap Kosdaq climbed 0.35%.Hong Kong's Hang Seng Index slipped 0.56%, while the mainlan China's CSI 300 dipped 0.36%.Japan markets were closed for a holiday.Singapore's benchmark Straits Times Index slipped 0.44% after it hit an all-time intraday high of 3,910.12 on Monday.India's...
The Hong Kong stock market fell by 92 points or 0.4% to 21,434 during Tuesday morning trading, marking its first drop in four sessions amid cautious sentiment following President Trump's announcement of a global 25% tariff on US imports of steel and aluminum, set to take effect on March 4. Markets retreated from their highest since early October, as traders adopted a vigilant stance ahead of this week's key US inflation data and Fed Chair Powell's testimony before Congress. Most sectors dropped, with tech, property, and consumers slipping the most. Further losses were capped by optimism...
Asia-Pacific markets opened higher Tuesday, tracking gains on Wall Street that appeared to look past U.S. President Donald Trump's tariff campaign.Trump on Monday signed an order imposing 25% tariffs on imports of steel and aluminum into the U.S.Australia's S&P/ASX 200 traded 0.24% higher. South Korea's Kospi rose 0.36%, while the small-cap Kosdaq traded around the flatline.Hong Kong's Hang Seng index futures were at 21,576, slightly stronger than the HSI's last close of 21,521.98.Japan markets were closed for a holiday.Investors will also be keeping an eye on Singapore markets after the...
Stocks rose on Monday as major technology names outperformed to start the week, while traders shrugged off President Donald Trump's latest U.S. tariff threats. The Dow Jones Industrial Average was trading about 167 points higher, or nearly 0.4%, led by a roughly 4% gain in McDonald's. The S&P 500 was up 0.67%, and the Nasdaq Composite was up about 0.98%. Markets remained jittery on a mix of inflation concerns coupled with worries about how Trump's tariff plans could hurt the U.S. economy. Trump told reporters Sunday that he plans to announce a blanket tariff of 25% on all steel and...
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...