The Hang Seng rose 171 points or 0.7% to close at 25,082 on Wednesday, reversing early losses as all sectors ended in the green. It was the fourth session of gains, helped by upbeat Chinese trade data. Exports accelerated in July due to front-loaded shipments, while imports saw the strongest growth in a year amid continued policy support from Beijing. Traders remained focused on the August 12 deadline, watching for progress in U.S.-China tariff negotiations. Tech shares posted modest gains despite Trump's remarks that the U.S. may impose 100% tariffs on certain chip imports—an outcome...
The greenback snapped a three-day losing streak amid focus on French budget talks and a fresh currency warning by President-elect Donald Trump. The Bloomberg Dollar Spot Index rises as much as 0.6% while the yield on 10-year Treasuries is up by three basis points to 4.20%. Trump warned the so-called BRICS countries he would require a commitment that they wouldn't create a new currency as an alternative to using the greenback, and repeated threats to levy a 100% tariff if they did. This is a tactic that risks backfiring, market watchers...
WTI crude oil prices were steady at $68.5 a barrel on Monday, as investors monitored positive economic data from China, and awaited the upcoming OPEC+ meeting. Chinese factory activity grew for a second month and at the fastest pace in five months in November, signaling a recovery in the world's largest oil importer after a series of stimulus measures introduced in late September. At the same time, Saudi Arabia, is anticipated to lower crude prices for Asian buyers in January to a four-year low. Attention also remains on the delayed OPEC+ meeting, rescheduled for later this week, where the...
Gold (XAU/USD) prices maintained its bid tone through the first half of the European session on Monday (2/12) and is currently trading around the $2,630 region, or the lower end of its daily range. The US Dollar (USD) bounced back after its recent decline to a near three-week low amid a healthy uptick in the US Treasury bond yields and turned out to be a key factor weighing on the precious metal. Furthermore, expectations that US President-elect Donald Trump's tariff plans and expansionary policies will boost inflation, setting the stage for the Federal Reserve (Fed) to halt interest rate...
Silver prices fell nearly $30 an ounce on Monday, extending losses from last week as the U.S. dollar strengthened on optimism about the U.S. economic outlook. The dollar also gained after U.S. President-elect Donald Trump threatened BRICS nations on Saturday with 100% tariffs if they create or support a new currency that could replace the dollar. A stronger dollar makes dollar-denominated commodities more expensive for buyers holding other currencies, dampening demand. Meanwhile, data showed that Chinese manufacturing activity expanded for a second straight month in November, following a...
Gold (XAU/USD) prices remained strongly offered through the early European session on Monday (2/12) and is currently trading near the lower end of its daily range, around the $2,629 region. This marked the first day of a negative move in the previous five and was sponsored by a combination of factors. Investors now seem convinced that US President-elect Donald Trump's tariff plans could reignite inflation and limit the scope for the Federal Reserve (Fed) to cut interest rates. This, in turn, triggered a fresh leg up in the US Treasury bond yields and drove flows away from the non-yielding...