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 was steady in early Asian trading after hitting an all-time high overnight. "A series of economic and geopolitical factors have fueled this surge," Antonio Di Giacomo of XS.com said in an email. "Among them, the new tariff measures announced by US President Trump stand out, as they have created uncertainty in international markets," said financial market analyst for Latam. The protectionist stance has heightened trade tensions and prompted investors to seek refuge in safe-haven assets such as gold, the analyst added. Spot gold was little changed at $3,055.52/oz. (Newsmaker23) Source:...
Oil is headed for a third weekly gain as the market braces for more tariffs from the Trump administration set to take effect early next week. West Texas Intermediate crude futures were steady below $70 a barrel, while Brent settled near $74 on Thursday. So-called reciprocal levies and duties on buyers of Venezuelan crude and gas are scheduled to take effect on April 2, the latest in a series of U.S. tariffs that have rattled global markets. Oil has been trending higher since early March as investors weighed supply disruptions caused by President Donald Trump's sanctions and levies, with...
The USD/JPY pair posts a fresh three-week high near 151.00 during North American trading hours on Thursday. The pair strengthens amid significant weakness in the Japanese Yen (JPY). The Yen underperforms even though traders remain confident that the Bank of Japan (BoJ) will raise interest rates again this year. BoJ hawkish bets have been driven by expectations of more wage hikes ahead. Last week, Japan's largest trade union group, Rengo, showed that firms agreed to raise pay growth by 5.4% this year.Though investors have underpinned the US Dollar (USD) against the Japanese Yen, it is...
EUR/USD jumps to near 1.0800 in North American trading hours on Thursday. The major currency pair gains after a six-day losing streak despite deepening fears of a potential trade war between the United States (US) and the Eurozone. Fears of a trade war have escalated as the European Union (EU) prepares to announce retaliatory tariffs on the US against 25% auto tariffs imposed by President Donald Trump on Wednesday, which will come into effect on April 2. "I can't tell you exact timings for when our potential response to these still not implemented actions will come, but I can assure you...
Gold price uptrend continued on Thursday with the yellow metal hitting a new record high of $3,059 amid uncertainty over trade policies enacted by US President Donald Trump, which escalated the trade war by imposing tariffs on automobiles. The XAU/USD trades at $3,051, up more than 1%. Tariffs continue to drive price action, following Trump's announcement of 25% duties on cars and automotive parts not manufactured in the United States (US). As uncertainty rises, Bullion traders bought the precious metal, which extended its gains past $3,050.Consequently, risk appetite deteriorated with Wall...