The Hang Seng Index rose 2.1% at 26,485.90 in Hong Kong. The move was the biggest since rising 2.4% on Oct. 20 and follows the previous session's decrease of 0.1%. Today, commerce and industry stocks led the market higher, as all sectors gained; 83 of 88 shares rose, while 4 fell. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 4.1%. China Hongqiao Group Ltd. had the largest increase, rising 9.9%. Source : Bloomberg
The AUD/USD pair moves higher and advances toward the two-week high of 0.6350 in Thursday's European session. The Aussie pair strengthens as the US Dollar (USD) faces an intense sell-off, with traders becoming increasingly confident that the new suite of tariffs by President Donald Trump will lead to a United States (US) recession in the near term. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, is down more than 2% to near 102.00. This is the highest one-day correction seen in years. On Wednesday, US President Trump unveiled his reciprocal...
Silver prices slid over 1% to dip below $33.50 per ounce on Thursday, reaching a one-week low as traders grappled with market uncertainties following US President Donald Trump's sweeping tariff measures. Trump imposed a 10% baseline tariff on all imports, with steeper levies targeting major trading partners such as China (34%), the EU (20%), and Japan (24%). Additionally, a 25% tariff on foreign-made automobiles took immediate effect. Defending the move, Trump framed the tariffs as a strategy to bolster domestic manufacturing and reduce trade deficits. While gold surged to a record high in...
The Pound Sterling (GBP) surges above 1.3100 against the US Dollar (USD) during the European trading hours on Thursday, the highest level seen in almost six months. The GBP/USD pair soars as the US Dollar plummets after United States (US) President Donald Trump unveils worse-than-expected tariffs for his trading partners. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, tumbles to near 102.70. US President Trump announced a 10% baseline duty on all products entering the US and additional specific levies on the majority of its trading allies, which...
Gold dipped on Thursday as traders locked in profits after prices hit a record high, following a rush to safe-haven assets triggered by U.S. President Donald Trump's aggressive import tariffs, which escalated the already intense global trade war. Spot gold was down 0.4% at $3,122.1, as of 0710 GMT. Earlier in the session, bullion hit an all-time high of $3,167.57. U.S. gold futures fell 0.7% to $3,145.00. Trump unveiled on Wednesday a 10% baseline tariff on all imports to the U.S., and higher duties on dozens of countries, including some of its biggest trading partners, deepening a trade...
The dollar index fell below 103 on Thursday, hitting its lowest level in nearly six months as traders digested President Donald Trump's sweeping tariff measures. Late Wednesday, Trump announced a comprehensive tariff package aimed at reshaping US trade relationships. The measures include a 10% baseline tariff on all imports, with higher rates for key trade partners, such as China (34%), the European Union (20%), and Japan (24%). Additionally, a 25% tariff on all foreign-made automobiles took immediate effect. Meanwhile, fresh economic data painted a mixed picture. The ADP report showed a...