The Hang Seng Index plunged 404 points, or 1.6%, to close at 24,773 on Thursday (July 31), marking its third consecutive decline and its lowest close in two weeks. Sentiment worsened after China's official PMI showed services activity grew at its slowest pace in eight months and factory output fell the most in six months, amid rising trade barriers and extreme weather.
Meanwhile, US President Trump's "reciprocal" tariff suspension is set to expire on Friday, with only eight trade deals reached in the past 120 days. On the monetary front, Fed Chairman Powell dismissed expectations of a September interest rate cut, but kept rates unchanged for the fifth consecutive meeting. The decline was broad-based, led by property, consumer discretionary, and financial stocks.
Stocks that experienced significant declines included Laopu Gold (-9.2%), Meituan (-4.7%), Pop Mart Intl. (-4.5%), and China Overseas Land (-4.2%). Despite this, the index surged 2.9% in July, its third monthly increase, driven by hopes of an extension of the US-China tariff truce and Beijing's pro-growth measures. (alg)
Source: Trading Economics
Hong Kong stocks opened higher on Tuesday, following Wall Street's rally, amid hopes of fresh stimulus after a report showed China's manufacturing activity remained weak. The Hang Seng Index rose 0.4%...
The Hang Seng Index surged 495 points, or 1.9%, to close at 26,322 on Monday (September 29th), recovering from two sessions of decline as all sectors contributed to the rally. Optimism increased after...
The Hang Seng Index opened higher, gaining 193 points to reach 26,321, and is currently up 313 points or 1.2%, standing at 26,442. The China Enterprises Index rose by 89 points or 0.95% to 9,392, whil...
The Hang Seng slipped 356 points, or 1.4%, to end at 26,128 on Friday, marking a second straight session of losses as consumer stocks slumped after President Trump proposed steep tariffs, including a ...
The Hang Seng Index started the day down by 212 points or 0.8%, closing at 26,272 points; the H-share index fell by 77 points or 0.82%, to 9,366 points; while the technology index dropped by 61 points...
Japanese shares closed lower on Tuesday after the Bank of Japan signaled room for future rate hikes but gave no clear sign of an October move. The Nikkei 225 fell 0.25%, or 111.12 points, to end at 44,932.63. One BOJ board member said it may be...
In a statement after the September policy meeting, the Reserve Bank of Australia said: "With signs that private demand is recovering, indications that inflation may be persistent in some areas and labour market conditions overall remaining stable,...
Silver traded around $47 per ounce on Tuesday and was set to advance almost 20% in September as safe-haven demand strengthened amid the risk of a US government shutdown. The standoff comes as President Donald Trump has made little progress in...
Federal Reserve (Fed Bank of New York President John C. Williams hit the newswires on Monday, expressing his general cautiousness toward further...
The U.S. on Monday cracked down on companies in China and other countries that use subsidiaries or other foreign affiliates to get around curbs on...
Asia-Pacific markets traded mixed Monday, while the Reserve Bank of Australia will kickstart its two-day policy meeting where it is expected to hold...
The STOXX 50 went up 0.3% and the STOXX 600 rose 0.2% on Monday, tracking a general positive tone across European equity markets in Asia and the...