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...
GBP/USD extends its winning streak for the third successive session, trading around 1.3570 during the Asian hours on Tuesday. The pair is hovering near the 39-month high of 1.3593, which was marked on Monday. The pair continues to appreciate as the US Dollar (USD) weakens due to growing fears over the United States' (US) debt concerns. The Greenback faces challenges as the easing trade tension between the United States (US) and the European Union (EU) improves the traders' risk appetite. US President Donald Trump extended the tariff deadline on the European Union (EU) from June 1 to July 9...
The Japanese yen strengthened toward 142 per dollar on Tuesday, reaching its highest level in four weeks as the US dollar continued to retreat amid growing fiscal concerns. Market sentiment was weighed down by President Donald Trump's sweeping tax and spending bill, which is expected to significantly widen the US fiscal deficit. The yen also benefited from safe-haven demand as investors reacted to increased market volatility driven by Trump's unpredictable trade stance. After threatening to impose a 50% tariff on the European Union, Trump abruptly delayed the measure, adding to investor...
Oil prices were little changed in Asian trading on Tuesday, as investors stayed on the sidelines ahead of a closely watched OPEC+ meeting that could provide key signals on future supply levels. Market activity remained muted, partly due to Monday's public holidays in both the U.S. and the UK. As of 20:58 ET (00:58 GMT), Brent Oil Futures expiring in July edged up 0.1% to $64.77 per barrel, while West Texas Intermediate (WTI) crude futures were unchanged at $61.53 per barrel. Oil was supported as U.S. President Donald Trump on Monday extended a deadline for his proposed reciprocal tariffs...
The dollar index held below 99 on Tuesday, trading at five-week lows as growing concerns over the US fiscal outlook and shifting trade policies undermined investor confidence in US assets. Market attention is now focused on upcoming Senate debates over Trump's sweeping tax cut and spending bill, which is expected to significantly expand the national debt. According to the Congressional Budget Office, the proposed measures could add approximately $3.8 trillion to the federal government's $36.2 trillion debt over the next decade. On the trade front, Trump's decision to postpone the...
Gold continued to edge lower as demand for safe-haven assets eased, with investors weighing the prospect of improved trade relations between the US and EU. Bullion was trading near $3,347 an ounce, after falling 0.4% on Monday, after Brussels said it would speed up negotiations with Washington to avoid a trans-Atlantic trade war. Both sides have softened their approach after US President Donald Trump initially criticized the bloc for stalling talks. Demand for safe-haven assets such as bullion has been hit by signs that the White House may be making progress in negotiations with some...