The Hang Seng Index opened 64 points higher, or 0.25 per cent, at 25,241 points yesterday. Meanwhile, the China Enterprises Index rose 20 points, or 0.22 per cent, to 9,054 points, and the Technology Index gained 13 points, or 0.23 per cent, to close at 5,592 points. Technology stocks showed mixed results: Tencent rose 0.1 per cent, Alibaba slipped 0.1 per cent, and Meituan edged up by 0.1 per cent. Xiaomi Group climbed 0.8 per cent ahead of its earnings report, JD.com rose 0.2 per cent, while Kuaishou remained unchanged. Financial stocks remained steady, with HSBC Holdings climbing 0.5...
Gold prices pared early gains to trade barely changed at $2,980 an ounce on Tuesday, as rising Treasury yields reduced the appeal of non-yielding assets such as bullion. Trade war concerns intensified after a White House official confirmed that the U.S. would go ahead with tariffs of up to 104 percent on Chinese imports, set to take effect at midnight. Earlier in the session, markets were buoyed by optimism over potential progress in tariff negotiations. Treasury Secretary Bessent said that more than 70 countries have been in contact with the White House, with some promising trade deals...
Silver (XAG) prices rose near $30.50 during North American trading hours on Tuesday (04/08). The white metal gained as its appeal as a safe haven has increased, with traders increasingly concerned about the outlook for trade relations between the United States (US) and China. Earlier in the day, a spokesperson for China's Ministry of Commerce warned that US President Donald Trump's threat of new tariffs was a "mistake on top of a mistake" and that China would "fight to the end" to protect its interests. The statement from Beijing came after Trump threatened to increase tariffs on China to...
Gold prices rose back above $3,000 per ounce on Tuesday as a weaker U.S. dollar and escalating trade tensions between the world's two largest economies lifted demand for the safe-haven asset. Spot gold was up 0.8% at $3,007.21 an ounce by 08:44 a.m. ET (1244 GMT), moving away from a more than three-week low touched on Monday in a pullback from last week's record high of $3,167.57. U.S. gold futures gained 1.6% to $3,021.90. "Despite falling for three consecutive sessions, gold remains bullish with trade tensions and the prospect of lower U.S. interest rates boosting its allure," said...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades around 103.00 at the time of writing on Tuesday, after some comments from Secretary Scott Bessent. Over the past few days, the overall risk-off sentiment had rather devalued the Greenback substantially, though since the strong Nonfarm Payrolls (NFP) released on Friday, the DXY has been climbing back. The question will be if the index can hold on to this recovery when more US data comes in. On the economic calendar front, some light data is set to be published. The National...
Oil prices steadied on Tuesday but remained near four-year lows as a recovery in equity markets was outweighed by recession fears exacerbated by trade conflict between the United States and China, the world's two biggest economies. Brent futures were up 24 cents, or 0.4%, at $64.45 a barrel at 1224 GMT. U.S. West Texas Intermediate crude futures rose 31 cents, or 0.5%, to $61.01. The two benchmarks had slumped by 14% and 15% respectively on Monday after U.S. President Donald Trump's April 2 announcement of "reciprocal tariffs" on all imports. On Tuesday Beijing vowed not to bow to what it...