Hong Kong stocks continued their decline on Wednesday, with the Hang Seng Index falling 1.1% to 25,664.92, after losing 0.8% in the previous session. The decline was driven by weakness in major technology stocks such as Alibaba, JD.com, and Tencent, which fell 2.2%, 1.4%, and 1.2%, respectively. Market sentiment was also affected by concerns about an artificial intelligence (AI) bubble and uncertainty regarding the Federal Reserve's interest rate policy, which further curbed investor risk appetite. This decline mirrored weakness in the US market after Palantir Technologies shares fell...
WTI crude oil futures fell to the $66.5 per barrel mark on Monday, near the six-month low of $66.3 from two sessions prior amid the outlook of weaker demand and ample supply. US President Donald Trump and Treasury Secretary Scott Bessent signaled that the US could have a period of economic hardship in the medium term due the their unleashing of trade wars with Canada, China, and Mexico, in addition to pledges of aggressive cuts in public spending. In China, fresh data showed that both consumer and producer prices fell more than expected in February, raising concerns that consumption for...
USD/CHF pair posts a fresh three-month low around 0.8760 at the start of the week. The pair weakens as the safe-haven demand of the Swiss Franc (CHF) increases amid deepening concerns over the United States (US) economic outlook. Investors see the US economy to face economic turbulence in the near term as the "America First" agenda of President Donald Trump is expected to result in a slowdown in the overall demand. On Friday, Trump said in an interview with Fox News that there is a period of "transition", because what we are doing is very "big".Fears of a US growth slowdown have prompted...
Oil prices held steady on Monday as concerns over the impact of U.S. tariff uncertainty and rising output from OPEC+ producers weighed on prices while potential sanctions on Iranian oil exports provided some support. Brent crude was up 9 cents at $70.45 a barrel by 1310 GMT. U.S. West Texas Intermediate crude was at $67.19, up 15 cents. Last week marked WTI's seventh straight weekly loss, its longest losing streak since November 2023, while Brent fell for a third straight week. U.S. President Donald Trump's protectionist policies have rattled markets around the world, imposing and then...
Gold eased on Monday as a slight rise in the U.S. dollar dented safe-haven demand amid trade war concerns, while investors awaited inflation data this week for clues on the Federal Reserve's next interest rate decision. Spot gold fell 0.2% to $2,905.05 an ounce by 1201 GMT, while U.S. gold futures were steady at $2,911.60. The dollar index (.DXY), opens a new tab , pared losses slightly after hitting a more than four-month low on Friday. Quantitative Commodity Research analyst Peter Fertig said the dollar's strength was weighing on bullion and he expects further correction below...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, traded in a very mixed pattern on Monday (3/10) and held above a four-month low of 103.50 set on Friday. Traders are considering the latest comments from US President Donald Trump, who commented on the US economy during a Fox News interview over the weekend. The president said the US economy is in a transition period, which is accompanied by some pain, while markets have questioned in recent days whether the US economy is not in a recession. On the economic data front,...