The Hang Seng Index opened 87 points higher, or 0.35%, at 24,946 points, while the National Enterprises Index rose by 23 points, or 0.26%, to 8,918 points. The Technology Index increased by 10 points, or 0.19%, to 5,470 points. In the technology sector, Alibaba saw a rise of 1.46%, Meituan gained 0.25%, and Kuaishou added 0.19%. Conversely, Xiaomi declined by 0.39%, and Tencent remained unchanged. Source : Dimsumdaily.hk
Gold edged up in early Asia, supported by mild US inflation signs that support the case for further Fed rate cuts that would boost the appeal of the non-interest-bearing precious metal. Economic data released Tuesday showed CPI rose a seasonally adjusted 0.2% in April, but year-on-year CPI cooled to 2.3% last month, the lowest level in four years. Moreover, a "thinning sell-off" in the precious metal appears likely, TD Securities' Daniel Ghali said in a research note. Despite the US-China trade deal, inflows into Chinese gold ETFs continued to strengthen, the senior commodity strategist...
Oil steadied after its biggest four-day rally since October, driven by trade war optimism and U.S. President Donald Trump's increasingly hostile rhetoric on Iranian supplies. West Texas Intermediate traded above $63 a barrel after rising nearly 10% in the previous four sessions, while Brent settled near $67. Trump said during a visit to Saudi Arabia that the U.S. would put maximum pressure on Iran's energy exports if a deal is not reached on the OPEC member's nuclear program, after the State Department earlier imposed sanctions on a pipeline that helps ship the Islamic Republic's oil to...
The USD/CHF pair retraces towards the critical round-level support of 0.8400 during the North American session on Tuesday. The US Dollar (USD) faced selling pressure following the release of the United States (US) Consumer Price Index (CPI) data for April, which revealed that inflation grew at a moderate pace, coming in below market expectations. According to the US Bureau of Labor Statistics (BLS), the headline CPI rose 2.3% year-on-year in April, down from 2.4% in March and missing the 2.4% forecast. The core CPI, which excludes volatile food and energy components, remained steady at 2.8%,...
The US Dollar faced downward pressure on Tuesday, retreating to 101.50, following a softer than expected Consumer Price Index (CPI) for April. The Australian Dollar, on the other hand, surged by nearly 1.5% against the US Dollar, boosted by improving global sentiment and the easing of US-China trade tensions. Investors now eye further economic data. The market expects that the Federal Reserve (Fed) will maintain its current rate policy through mid-2025.The Australian Dollar gains traction as the US Dollar weakens as a combination of softer inflation data and trade progress lifts...
The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, lost ground on Tuesday, slipping to 101.50 as inflation data for April came in softer than expected. While CPI rose 0.2% monthly and 2.3% annually, missing forecasts, core inflation held steady at 2.8%. Traders remain cautious amid vague trade commitments with China and the UK, and there are new uncertainties after President Trump pushed ambitious investment and tax plans without detailing how they would impact the economy. Despite tariff de-escalation headlines, the Fitch-rated effective...