The Hang Seng Index fell 347 points, or 1.4%, to close at 25,177 on Wednesday (July 30th), extending losses from the previous session amid widespread declines. Technology stocks slumped 2.7%, while consumer discretionary and financial stocks each fell about 1.5%, after US-China trade talks ended without substantial progress, leaving President Trump with the final decision on tariffs.
Caution is also growing ahead of today's Fed interest rate decision, with analysts saying most officials prefer to assess the inflationary impact of tariffs, especially with Trump's August 1st deadline approaching. Meanwhile, China's upcoming official and private PMI data for July are drawing attention amid concerns about deflation and the impact of expanding trade barriers.
Losses were limited by a third consecutive gain in mainland Chinese stocks, as investors braced for a possible bull market. Hang Seng Bank plunged 7.3% after its first-half profit plunged 30%. CATL fell 5% as Tesla signed a supply deal with LG Energy. Li Auto, Mixue, and Pop Mart also saw sharp declines. (alg)
Source: Trading Economics
(Hong Kong) On the final trading day of July, the Hang Seng Index opened 194 points, or 0.77%, lower at 24,982. The China Enterprises Index fell by 61 points, or 0.68%, to 8,976, while the Technology ...
Hong Kong stocks fell for the second session, down 46 points or 0.2% to 25,469 on Wednesday morning, after U.S.-China trade talks ended without a meaningful breakthrough. While extending the current ...
The Hang Seng Index weakened 38 points, or 0.15%, to close at 25,524 on Tuesday (July 29th), reversing gains from the previous session as most sectors declined. Traders are increasingly cautious about...
Hong Kong shares fell 282 points or 1.1% to 25,277 in early trade Tuesday, pulling back from Monday's gains as all sectors retreated. Investors reacted to weak June trade data in the city, showing the...
The Hang Seng rose 174 points or 0.7% to close at 25,562 on Monday, rebounding from losses in the prior session amid broad-based gains, led by financials and property stocks. Sentiment improved as the...
The Australian Dollar (AUD) appreciates on Thursday, halting its five-day losing streak. The AUD/USD pair maintains its position following the release of key economic data from Australia and its close trading partner, China. Australia's Retail...
(Hong Kong) On the final trading day of July, the Hang Seng Index opened 194 points, or 0.77%, lower at 24,982. The China Enterprises Index fell by 61 points, or 0.68%, to 8,976, while the Technology Index declined 31 points, or 0.58%, to 5,458....
The dollar flirted with a two-month peak on Thursday after Federal Reserve Chair Jerome Powell stuck to his patient approach on rates in a closely watched policy decision and offered little insight on when they could be lowered. The greenback was...
European stock markets closed higher in Tuesday trading as the Stoxx Europe 600 was up 0.33%, Germany's DAX climbed 1.03%, the FTSE 100 gained...
Europe's Stoxx 600 index erased earlier gains to close 0.23% lower as investors turned less positive over the details of the U.S.-EU trade...
The European Union and the U.S. will form a "metals alliance" to counter the impact of subsidised Chinese production on global markets, as part of...
US stocks maintained modest gains on Tuesday (July 29) as the market digested a series of earnings reports ahead of key economic developments. The...