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
Oil retreated, pausing last month's rally as traders position themselves for impending US tariff announcements. Brent slid close to $74 a barrel after slipping slightly on Tuesday. US President Donald Trump is set to announce his tariff measures later on Wednesday, and the sweeping duties will take immediate effect, according to his top spokeswoman. Several proposals are said to be under consideration, including a tiered tariff system with a set of flat rates for different countries, as well as a more customized "reciprocal" plan. Wide-ranging measures remained on...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, consolidates for a second day in a row this week and hovers near 104.20 at the time of writing on Wednesday. The Greenback remains sidelined just hours before United States (US) President Donald Trump announces the reciprocal tariff implementation at the White House at 20:00 GMT. The White House and the Trump administration are very sketchy in details, and until now, it remains unclear what the tariffs will mean for markets. On the economic data releases, this Wednesday's main event...
Gold price (XAU/USD) stabilizes just above $3,120 at the time of writing on Wednesday after some easing from the prior day where a fresh all-time high got eked out at $3,149 before closing negative. The Gold rush rally stalled ahead of United States (US) President Donald Trump officially announcing the reciprocal tariff implementation later this Wednesday at the White House with his entire cabinet present. However, with uncertainty building up towards this day, the announcement itself could be less impactful than initially thought, resulting in a sharp correction for Gold this week as a...
The Pound Sterling (GBP) trades sideways around 1.2900 against the US Dollar (USD) in Wednesday's European session. The GBP/USD pair consolidates as investors have been sidelined, waiting for the release of a detailed reciprocal tariff plan by United States (US) President Donald Trump later in the day. US President Trump has been touting April 2 as "Liberation Day" for weeks as he believes that the imposition of reciprocal tariffs will make "America great again". Trump's reciprocal tariffs are expected to upend the global trade system soon, as White House spokeswoman Karoline Leavitt...
Oil was little changed, pausing last month's rally as traders position themselves for impending US tariff announcements. Brent traded below $75 a barrel after slipping 0.4% on Tuesday, with West Texas Intermediate above $71. US President Donald Trump is set to announce his tariff measures later on Wednesday, and the sweeping duties will take immediate effect, according to his top spokeswoman. Several proposals are said to be under consideration, including a tiered tariff system with a set of flat rates for different countries, as well as a more customized...