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...
The yen weakened to around 147.5 per dollar on Monday as the greenback gained ahead of a key meeting in Washington between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy aimed at advancing a peace deal with Russia. Investors also looked to the Federal Reserve's annual Jackson Hole symposium this week for signals on the global interest rate outlook. In Japan, data released Friday showed the economy expanded more than expected in the second quarter, supported mainly by net exports despite headwinds from US tariffs. Meanwhile, Japanese officials downplayed remarks from...
The dollar index hovered around 97.8 on Monday as investors awaited a pivotal meeting in Washington between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy, while also looking ahead to the Federal Reserve's Jackson Hole symposium later this week. Trump said he would press Zelenskiy to reach a quick settlement following his Friday talks with Russian President Vladimir Putin. While the meeting did not produce a ceasefire breakthrough, Putin agreed to allow the US and Europe to provide Ukraine with robust security guarantees as part of a potential deal to end the...
The Gold price (XAU/USD) attracts some sellers to around $3,330 during the early Asian session on Monday. The precious metal edges lower after unexpectedly strong US Producer Price Index (PPI) data. Investors will closely monitor a meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy later on Monday for further developments. Hotter-than-expected PPI inflation data released on Thursday prompted traders to trim wagers on rate cuts by the Federal Reserve (Fed) in September, which creates a headwind for the yellow metal. The US Producer Price Index (PPI) rose...
Brent crude futures hovered below $66 per barrel on Monday, extending losses from the prior session as markets focused on the meeting in Washington between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy aimed at advancing a peace deal with Russia. The talks will also include European Commission President Ursula von der Leyen, French President Emmanuel Macron, and NATO Secretary General Mark Rutte. Trump said he would press Zelenskiy to agree to a quick settlement following his Friday discussions with Russian President Vladimir Putin, which centered on Moscow's demand...
Gold price (XAU/USD) holds firm during the North American session as market participants await the outcome of the meeting between US President Donald Trump and his counterpart, Russian President Vladimir Putin. Traders shrugged off in-line US Retail Sales figures, which failed to propel the US Dollar. The XAU/USD trades at $3,340, up 0.17%. The golden metal seems trapped within the $3,330-$3,350 range since late on Thursday and throughout Friday's session. Expectations of a positive result of the Trump-Putin summit in Alaska are not as high as expected. However, the White House expressed...