Asia-Pacific markets traded mixed Monday, as investors keep a close watch on the People's Bank of China's decision on its 1-year and 5-year loan prime rates for July, as well as the latest developments on the trade front. Trade came into focus once again over the weekend as the White House reiterated its position on tariffs. On Sunday, U.S. Commerce Secretary Howard Lutnick called Aug. 1 the "hard deadline" for countries to start paying tariffs, though he also added that "nothing stops countries from talking to us after August 1." South Korean markets started the day higher Monday. As of...
The Hang Seng Index initiated the day by rising 28 points to 24,191 points, currently showing a 60-point increase or 0.25%, reaching 24,223 points. Concurrently, the H-share index climbed by 29 points or 0.33%, reaching 8,796 points, and the technology index saw a gain of 26 points or 0.48%, reaching 5,418 points. In the tech sector, stocks demonstrated overall stability, with Tencent rising by 0.4%, Alibaba by 1.1%, Meituan by 0.4%, Xiaomi Group by 0.6%, and Kuaishou witnessing a slight decline of 0.1%. Across the financial domain, individual movements were observed, notably with HSBC...
The Nikkei 225 Index climbed 0.5% to around 38,400 while the broader Topix Index gained 0.2% to 2,791 on Wednesday, with Japanese shares rising for the fourth straight session as signs of progress in US-China trade talks supported market sentiment. US Commerce Secretary Howard Lutnick said that two sides have reached a framework to implement the Geneva consensus and the call between their respective presidents. On the domestic front, Japan's producer prices rose 3.2% year-on-year in May, the slowest pace in eight months, easing some inflation concerns. Meanwhile, Bank of Japan Governor...
Asia-Pacific markets climbed Wednesday as investors continue to track trade discussions between the U.S. and China, which U.S. Commerce Secretary Howard Lutnick described as being "productive." The talks between officials from both superpowers had continued for a second day in London on Tuesday. U.S. Treasury Secretary Scott Bessent said he was departing the ongoing trade talks, but Lutnick and U.S. Trade Representative Jamieson Greer would remain to continue the negotiations. Discussions could extend into Wednesday if needed, Lutnick said previously. Japan's benchmark Nikkei 225 started...
US stocks finished higher on Tuesday as investors kept a close watch on US-China trade talks, buoyed by comments from Commerce Secretary Howard Lutnick, who said negotiations were going "really, really well." The S&P 500 climbed 0.5%, marking 3rd day wining streak, while the Dow added 105 points and the Nasdaq advanced 0.6%. Talks in London stretched into a second day, with both sides working late to finalize technical details, fueling optimism over a potential agreement to avoid further tariff escalation. Energy led sector gains, followed by consumer discretionary and health care,...
Stocks rose on Tuesday as investors awaited more insight into trade talks between the U.S. and China. The Dow Jones Industrial Average rose 51 points, or 0.1%. The S&P 500 rose about 0.3% along with the Nasdaq Composite Talks between U.S. and Chinese officials in London continued for a second day. U.S. Commerce Secretary Howard Lutnick said Tuesday that discussions were "going well, and we're spending a lot of time together" and that he expected talks to continue throughout the day. Traders are watching the discussions for signs of a deal that doesn't involve the countries imposing...