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
Gold hit a record at the start of the new quarter as a major escalation in US President Donald Trump's trade tariffs due this week heightened concerns about the global economy and fanned haven demand. Bullion neared $3,150 an ounce, on pace for a fourth day of gains. Traders are on edge as Trump plans to announce sweeping levies on all of America's trading partners on Wednesday, raising the risks of retaliatory measures. The precious metal has been one of the strongest performing commodities this year, posting its best quarter since 1986 in the opening three...
Australia's dollar held an intraday gain after the Reserve Bank of Australia left rates unchanged but reiterated that returning inflation to target was its highest priority. AUD/USD gained 0.4% to 0.6269, at session highs; it moved upward after Governor Bullock said that the board did not explicitly discuss a rate cut, while swaps traders held May rate-cut bets to about 80% The Bloomberg Dollar Spot Index eased 0.1% and Treasury yields fell across the curve ahead of President Donald Trump's announcement of his reciprocal tariff plan on April 2 in the White House Rose Garden,...
The Japanese Yen (JPY) edges higher against its American counterpart during the Asian session on Tuesday and for now, seems to have stalled the previous day's retracement slide from over a one-week high. The Bank of Japan's (BoJ) Tankan survey showed that Japanese enterprises raised their inflation forecasts for one year, three years, and five years ahead. This, in turn, backs the case for more rate increases from the BoJ and turns out to be a key factor supporting the JPY. Moreover, a modest US Dollar (USD) downtick keeps the USD/JPY pair depressed below the 150.00 psychological mark. The...
Oil steadied after jumping on Monday as President Donald Trump suggested that the US may work to curtail crude shipments from Russia, the world's third-largest producer and a major exporter. West Texas Intermediate traded above $71 a barrel after gaining 3.1% on Monday, the most since mid-January, with Brent crude closing below $75. Trump threatened so-called "secondary tariffs" on buyers of Russian oil, potentially hurting flows, as he pushes for an end to the war in Ukraine. The US is also set to implement levies and other measures on Wednesday, in what Trump has dubbed...
Gold held near Monday's fresh record, as a wave of volatility sent traders to havens ahead of President Donald Trump's expected tariff rollout, which has heightened concerns the global economy is heading for a trade war. Bullion was steady after surging 1.4% in the previous session to an all-time high of $3,127.92 an ounce. Traders are on edge as Trump plans to announce sweeping levies on all of America's trading partners on Wednesday. Gold is coming off its best quarter since September 1986 after gaining almost a fifth this year. Physical demand and a favorable macro...