Hong Kong shares added 53 points or 0.2% to 25,659 in Thursday's morning session, rising for the fourth day to a three-week high. Sentiment was lifted by record closes for Wall Street's S&P 500 and Nasdaq for the second day overnight, as traders increased bets on a US Fed rate cut next month. Meantime, Treasury Secretary Bessent called for a series of cuts, starting with a 50bps move in September. In China, Beijing pledged interest subsidies for businesses in eight consumer service sectors to boost spending. Further strength, however, was capped by growing caution ahead of July activity...
Silver prices held firm around $36.80 per ounce on Tuesday, hovering near 13-year highs as markets assessed the latest US trade policy moves. President Donald Trump announced updated tariff rates on 14 countries that have not reached trade agreements with Washington, including major exporters such as Japan and South Korea, both of which will face 25% levies. Trump also signed an executive order extending the reciprocal tariff deadline to August 1 from July 9, providing additional time for negotiations. He further warned of a potential 10% tariff on countries aligning with what he called...
The Japanese Yen (JPY) sticks to its negative bias through the early European session on Tuesday amid worries that US President Donald Trump's trade tariffs could further complicate the Bank of Japan's (BoJ) path to normalising monetary policy. Adding to this, signs of stability in the global risk sentiment turn out to be another factor that undermines the JPY's safe-haven status and assists the USD/JPY pair to hold steady above the 146.00 round figure. Meanwhile, concerns about the economic impact of Trump's tariffs and geopolitical risks stemming from fresh conflicts in the Middle East...
Gold price (XAU/USD) sticks to modest intraday losses through the early European session on Tuesday, though it lacks follow-through selling amid a combination of diverging forces. Investors now seem convinced that the Federal Reserve (Fed) will keep interest rates steady amid expectations that US President Donald Trump's tariffs would underpin US inflation. This, in turn, is seen as a key factor acting as a headwind for the non-yielding yellow metal. However, worries about the potential economic fallout from Trump's trade tariffs and US fiscal concerns fail to assist the US Dollar (USD) in...
Oil slipped for the third time in four days as investors focused on the fallout from a wave of US trade levies and a decision by OPEC+ to restore more of the group's idled capacity. Brent dipped toward $69 a barrel and West Texas Intermediate was below $68. President Donald Trump threatened new tariff rates on trading partners, while suggesting that he was still open to negotiations. The duties on countries including Japan and South Korea won't take effect until at least Aug. 1. President Donald Trump unveiled the first in a wave of promised letters that threaten to impose...
The US Dollar Index (DXY) weakened and moved below the 97.50 level in Asian trading on Tuesday (9/7), after recording a surge of more than 1% in the previous session. The DXY had strengthened due to a surge in risk aversion following the announcement of new tariffs from the White House, but weakened again as markets began to consider the potential for a Federal Reserve interest rate cut amid increasing US fiscal pressures. What caused it? President Donald Trump signed an executive order on Monday night that delayed the implementation of new tariffs until August 1, giving trading partner...