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 price (XAU/USD) retains its bullish bias through the first half of the European session on Friday and touches a fresh all-time peak, around the $3,086 region in the last hour. The global risk sentiment continues to be undermined by worries over US President Donald Trump's auto tariffs announced on Wednesday, the uncertainty about impending reciprocal tariffs next week, and their effect on the global economy. The anti-risk flow is evident from a generally weaker tone around the equity markets, which, in turn, is seen driving safe-haven flows toward the precious metal. Furthermore,...
The USD/CHF pair traded in the positive territory near 0.8825 during the early European session on Friday (3/28). The greenback moved higher as traders assessed how severe the tariffs scheduled to be announced by US President Donald Trump next week are likely to impact the global economy. The US Personal Consumption Expenditures (PCE) data for February will be in focus on Friday. Growing optimism that Trump will be flexible on tariffs could boost risk sentiment and the US Dollar (USD). Trump said on Monday that auto tariffs would be implemented soon, but not all threatened duties will be...
Oil prices eased slightly but held near one-month highs on Friday as they headed for a third weekly gain as the outlook for global supplies tightened after the U.S. imposed tariffs on countries buying Venezuelan oil and restricted trade in Iranian oil. Brent crude futures fell 14 cents, or 0.2%, to $73.89 a barrel. U.S. West Texas Intermediate crude futures fell 12 cents, or 0.2%, to $69.80 a barrel by 0431 GMT. The moves were small compared with gains of more than 2% for both contracts so far this week. Oil prices have risen more than 7% since hitting multi-month lows in early March. The...
Silver (XAG/USD) prices fell after rising more than 2% in the previous session, trading near $34.30 per troy ounce during Asian trading hours on Friday (3/28). Despite the decline, safe-haven demand for Silver remained strong amid rising risk aversion, driven by escalating trade tensions ahead of new US tariffs next week. US President Donald Trump recently imposed a 25% tariff on foreign-made cars and auto parts, prompting threats of retaliation from the European Union and Canada. This has raised concerns about a wider trade dispute and potential global economic impact. Silver, a...
Gold rose to a record high as concerns about a widening trade war remained top of mind for investors, after President Donald Trump pushed ahead with U.S. tariffs on all auto imports. Bullion rose as much as 0.7% on Friday to an all-time high of more than $3,077 an ounce, beating a previous record set on Thursday. Gold is on track for a fourth weekly gain, with prices supported by rising demand for safe-haven assets. Trump on Thursday signed a proclamation to impose 25% tariffs on auto imports and vowed tougher penalties on the EU and Canada if they join forces "to do economic harm" to the...