Hong Kong stocks rose 55 points, or 0.2%, to 26,210 in early trading on Tuesday (November 4), posting a second consecutive session of gains. Market sentiment was boosted by positive comments from Chief Executive John Lee, who revealed that Hong Kong had recorded 80 initial public offerings (IPOs) in the first ten months of 2025, underscoring the strength of the city's capital market. Furthermore, Chinese Vice President He Lifeng expressed hope for increased economic and financial cooperation between Hong Kong and mainland China, further strengthening Hong Kong's position as a global...
Oil prices held around two-month lows on Wednesday as a potential peace deal between Russia and Ukraine continued to weigh on prices while lower U.S. crude stockpiles provided some support. Brent crude rose 16 cents, or 0.2%, to $73.18 a barrel by 0926 GMT. U.S. West Texas Intermediate crude oil futures were up 20 cents, or 0.3%, at $69.13. Prospects for a peace deal between Russia and Ukraine are improving, ING commodities strategists said in a note on Wednesday, adding that the market was also watching for potential implications of a minerals deal between the U.S. and Ukraine. "This...
The Pound Sterling (GBP) declines to near 1.2640 against the US Dollar (USD) in European trading hours on Wednesday. The GBP/USD pair faces selling pressure as the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, has shown a strong recovery move after sliding to near the 11-week low of 106.10 earlier in the day. The Greenback bounces back strongly as bond yields gain ground after a five-day losing streak. 10-year US Treasury yields recover to near 4.33% after posting a fresh more than two-month low near 4.28% during the Asian session.US bond yields...
USD/CHF pair edges higher to near 0.8950, snapping the four-day losing streak on Wednesday during the early European trading hours. The US Dollar (USD) recovers from an 11-week low despite weak US economic data and tariff worries from US President Donald Trump. The cautious stance from the US Federal Reserve (Fed) helps limit the USD's losses. Richmond Fed President Thomas Barkin said late Tuesday that he will follow a wait-and-see approach regarding central bank interest rate policy until it is clear inflation is returning to the Fed's 2% goal. Meanwhile, Chicago Fed President Austan...
Gold prices dipped on Wednesday as the dollar ticked up, while investors tracked developments surrounding U.S. President Donald Trump's tariff plans, which could spark trade wars and stoke inflation. Spot gold fell 0.1% to $2,911.38 an ounce by 0723 GMT after shedding more than 2% on Tuesday. U.S. gold futures rose 0.2% to $2,923.40.The dollar index (.DXY), opens new tab inched higher from an 11-week low, helped by a rebound in short-term Treasury yields. A stronger dollar makes gold more expensive for foreign buyers. "A correction (in gold prices) towards $2,880 is possible in the next...
Silver fell to around $31.60 per ounce on Wednesday, marking its fourth straight decline amid demand uncertainties and robust supply. Profit-taking also weighed on silver prices, although the metal remains up about 10% year-to-date. Hecla Mining Company, the largest silver producer in the US, reported a 13% increase in silver output for 2024, mining 16.2 million ounces moz, the second-highest production level in its 134-year history. On the demand side, US silver coin purchases dropped 27% year-on-year in January to 3.5 moz, the lowest January demand since 2018. Meanwhile, softening US...