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...
Oil prices were up around 1% on Tuesday, rebounding from a near four-year low in the previous session on concerns that U.S. tariffs might depress demand and lead to a global recession, though analysts warned downside risks remain. Brent futures were up 66 cents, or 1%, at $64.87 per barrel, while U.S. West Texas Intermediate crude futures rose 67 cents, or 1.1%, to $61.37, at 0650 GMT. As of Monday, Brent and WTI had slumped 14% and 15% respectively following U.S. President Donald Trump's April 2 announcement of "reciprocal tariffs" on all imports. Oil prices recouped some of those losses...
Gold prices rose in Asian trading on Tuesday, rebounding from a three-week low as investors sought safety amid escalating trade tensions between the U.S. and China. As of 02:12 ET (06:12 GMT), Spot Gold rose 0.7% to $3,002.68 per ounce. Gold fell below $3,000 per ounce in the previous session to hit its lowest level since March 13 as investors liquidated their positions to cover losses in other financial markets. "Gold is traditionally a safe haven, but sometimes investors sell it along with other asset classes to cover losses elsewhere," ING analysts said in a note. Gold Futures...
Japanese Yen (JPY) trims a part of modest intraday gains against its American counterpart, though the near-term bias still seems tilted in favor of bullish traders. Concerns that harsher US reciprocal tariffs could negatively impact Japan's economy, along with a slight improvement in the global risk sentiment, act as a headwind for the safe-haven JPY. However, the growing market acceptance that the Bank of Japan (BoJ) will continue raising interest rates in 2025, amid signs of broadening inflation, might hold back the JPY bears from placing aggressive bets. Meanwhile, US President Donald...
Silver price (XAG/USD) posts modest gains around $30.15 during the Asian trading hours on Tuesday. The upside for the white metal might be limited due to investors liquidating positions to secure profits, possibly covering losses or margin calls on falling asset valuations, fueled by concerns about a global trade war. Nonetheless, the weaker Greenback might help limit the USD-denominated commodity price's losses. Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although...
Gold price is building on its rebound from one-month lows of $2,957 early Tuesday, replicating the moves seen in Monday's Asian trading. In doing so, Gold buyers retake the $3,000 threshold, but will they sustain the upswing amid escalating US-China trade tensions.Gold price is snapping a three-day correction as the US Dollar (USD) has come under renewed selling pressure while the US Treasury bond yields have paused their rebound from six-month troughs. China's efforts to step up lending to stabilize markets and a generalized recovery in risk sentiment revive the downside for the so-called...