The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to reduce risk in large cap stocks. Among the index's contributors, Tencent was a major drag, with its shares falling by around 2.3%, putting pressure on the technology sector, which has recently been a driving force behind market gains. Weakness in large cap companies like this typically quickly impacts sentiment due to their significant weighting in...
U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY WAR." According to Trump's post, the ceasefire will begin approximately six hours after his announcement, when both nations have "wound down and completed their in progress, final missions." The agreement stipulates a 12-hour initial ceasefire period initiated by Iran, followed by Israel joining the ceasefire at the 12th hour. Trump stated that upon the 24th hour, there will be an "Official END" to the...
U.S. President Donald Trump on Monday said Iran gave the United States notice prior to shooting missiles at its military base in Qatar, which he said made it possible for no lives to be lost. "I am pleased to report that NO Americans were harmed, and hardly any damage was done. Most importantly, they've gotten it all out of their 'system,' and there will, hopefully, be no further HATE," Trump wrote in a post on Truth Social. "Perhaps Iran can now proceed to Peace and Harmony (JO:HARJ) in the Region, and I will enthusiastically encourage Israel to do the same," Trump added Iranian leader...
US President Donald Trump said on Tuesday, "the European Union (EU) is not yet offering a fair deal." Additional quotes US Treasuey Secretary Scott Bessent stayed at G7. Chance of Japan deal, but they're "tough". Reiterate threat to send letters with what tariffs he'll charge. Pharma tariffs coming very soon. Might do separate Canada deal for Golden Dome. Canada will pay to join Golden Dome project. Will probably extend TikTok deadline again. Not too much in mood to negotiate with Iran. Market reaction Trump's comments fail to move the needle around the US Dollar against its major...
President Donald Trump said Federal Reserve Chair Jerome Powell's termination from his position can't come quickly enough, arguing that the US central bank should have lowered interest rates already this year, and in any case should do so now. Trump, derisively nicknaming the Fed chairman he nominated in his first term as "Too Late," wrote in a post on his Truth Social platform Thursday morning that "Powell's termination cannot come fast enough!" It was not immediately clear if the post meant Trump was referring to the scheduled end of Powell's term, or if Trump...
President Donald Trump said he plans to limit exceptions to his tariff push, the latest cryptic hint about a planned April 2 announcement of reciprocal duties on global trading partners. US trading partners have raced to secure carveouts ahead from the levies Trump has placed at the center of his economic agenda, but the president indicated that they would be tough to secure. "I know there are some exceptions, and it's an ongoing discussion, but not too many, not too many exceptions," Trump said in an interview with Newsmax. "No, I don't want to have too many...