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 Australian Dollar (AUD) trades steady around the region 0.6300 against the US Dollar (USD) during Thursday's American session. The pair consolidates recent gains despite renewed weakness in the US Dollar, which faces selling pressure after tariff-related developments and market caution ahead of Friday's PCE inflation release. The AUD/USD pair trades within a tight range, reflecting market indecision but holding ground as optimism over China's stimulus pledges provides underlying support. Daily digest market movers: Australian Dollar holds steady as tariff tension weighs on USDThe...
Oil prices edged higher on Thursday as traders assessed a tightening of crude supplies along with new U.S. tariffs and their expected effect on the world's economy. Brent crude futures gained 24 cents, or 0.3%, to settle at $74.03 a barrel. U.S. West Texas Intermediate crude futures rose 27 cents to $69.92. On Wednesday, oil prices rose about 1% to their highest since February. Market participants were weighing escalating trade war risks. U.S. President Donald Trump unveiled his plan on Wednesday to implement 25% tariffs on imported cars and light trucks effective next week, while those...
Gold price (XAU/USD) jumped higher on Thursday, gained over 1.00% at one point before fading back to $3,046 at the time of writing. The pop in the precious metal was infused by United States President Donald Trump, who issued fresh new tariffs. Trump signed a proclamation for a 25% tariff on auto imports on Wednesday. The squeeze in Gold prices accelerates just hours ahead of the US trading session on Thursday. In addition, President Trump suggested that further and mounting tariffs can be imposed on the European Union and Canada if both territories work together to "do the US economy...
The Pound Sterling (GBP) rises during the North American session against the Greenback even though US President Donald Trump enacted automotive tariffs on all cars made outside the United States (US). Initially, risk appetite deteriorated, but it has improved. Therefore, high-beta currencies like the Sterling advance, with GBP/USD trading near 1.2930, up 0.35%. GBP/USD rises as risk appetite rebounds, while UK seeks carve-out from new US trade measuresOn Wednesday, Trump announced 25% duties on imported automobiles, effective April 2. He said that he would announce additional tariffs next...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, lacks a substantial catalyst and might be flatlining going into Friday's PCE data, trading around 104.35 at the time of writing. The DXY edged higher overnight on the back of tariff comments from United States (US) President Donald Trump. An additional 25% levy on all auto imports was issued to come into effect on April 3 and countries such as Canada and the European Union were threatened with more tariffs if they look to team up in their response to the US. On the economic data...