The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to reduce risk in large cap stocks. Among the index's contributors, Tencent was a major drag, with its shares falling by around 2.3%, putting pressure on the technology sector, which has recently been a driving force behind market gains. Weakness in large cap companies like this typically quickly impacts sentiment due to their significant weighting in...
The Japanese Yen (JPY) oscillates in a narrow range during the Asian session on Monday and stalls the recent pullback from a multi-month high touched against its American counterpart last week. US Treasury Secretary Scott Bessent did not back President Donald Trump's assertion that tariff talks with China were underway. This keeps a lid on the optimism over a quick resolution of trade tensions between the world's two largest economies and lends some support to the safe-haven JPY. Meanwhile, traders have pushed back expectations for an immediate interest rate hike by the Bank of Japan (BoJ)...
Silver price (XAG/USD) continues to lose ground for the second straight day, hovering around $32.80 per troy during Asian trading hours on Monday. The precious metal faces pressure as improving trade relations between the United States (US) and China diminish its safe-haven appeal. On Friday, reports indicated that China had exempted certain US imports from its steep 125% tariffs, raising hopes that the long-running trade dispute between the world's two largest economies could be nearing a resolution. Further boosting sentiment, US Agriculture Secretary Brooke Rollins said on Sunday,...
Gold fell further from last week's record high, as traders unwound positions on signs the metal's explosive rally may have run too hard and too fast. Bullion dipped 0.4% to near $3,305 an ounce in early Asian trading, and is down more than 5% since peaking above $3,500 on Wednesday. Shifts in options positioning — which last week saw trading volumes on the SPDR Gold Shares ETF surpass a record 1.3 million contracts — could point to an overheated market in the short term as prices run ahead of fundamental drivers including the dollar and real rates, according to Barclays...
The dollar made a steady start on Monday as investors prepared for a week packed with economic data that may give a first glimpse of whether U.S. President Donald Trump's trade war is hitting home. At 143.57 yen and $1.1360 per euro the greenback has, for now, found a footing, while staying on course for its largest monthly fall in nearly 2-1/2 years as Trump has rattled confidence in the dependability of U.S. assets [MKTS/GLOB] It is down more than 4% on both the euro and the yen through April, though bounced at the end of last week on an apparent conciliatory shift in the tone of...
Brent crude oil futures rose to around $66.9 per barrel on Monday, amid hopes for easing in the U.S.-China trade tensions. While it remains uncertain whether formal trade negotiations between the two countries have begun, President Donald Trump last week softened his rhetoric towards China, and Beijing has exempted some U.S. imports from its 125% tariffs. However, overall gains may be capped as progress in U.S.-Iran nuclear talks has raised concerns about the potential return of Iranian crude to the market. Additionally, the prospect of OPEC+ ramping up production for a second straight month...