European stocks opened the week on a cautious note, with both the STOXX 50 and STOXX 600 hovering near the flatline as investors closely monitor ongoing trade developments and digest a fresh wave of corporate earnings. No breakthrough has yet been achieved in the trade negotiations between the EU and the US. While talks are still underway, reports indicate that the EU is preparing retaliatory measures should an agreement fail to materialize before the US imposes a 30% tariff on European imports from August 1st. On the corporate front, Stellantis shares fell nearly 1.7% after the automaker...
The Nikkei 225 dipped 257 points or 0.7% to 39,052 around noon on Tuesday, reversing from a surge in the prior session. The decline reflected weakness in tech services, communications, and consumer services. Traders digested a media report that the Committee on Foreign Investment in the US has told the White House it is unable to reach a consensus on national security risks involved in Nippon Steel's bid for US Steel. Meanwhile, the Japan Fair Trade Commission is set to punish Google for unfair practices. The IT company can be fined up to JPY 300 million, local media said. Limiting...
Hong Kong stocks surged 259 points, or 1.3%, to 20,143 during Tuesday morning trade, marking a second straight session of gains. The gains followed a rally in U.S. tech stocks that boosted Wall Street overnight. The Hang Seng hit its highest level in more than a week, with gains across all sectors as mainland markets reversed losses from the previous session. Investors eagerly increased their positions following reports that U.S. President-elect Trump said in a speech that he opposed the idea of popular social media app TikTok leaving the U.S. market. Further gains were capped by a...
The Shanghai Composite Index opened 0.2% higher at 3,358.35 in Shanghai. Bank of China Ltd. contributed the most to the index gain, increasing 0.8%. Jilin Joinature Polymer Co. had the largest increase, rising 13.8%. In early trading, 1,376 of 2,240 shares rose, while 789 fell; 4 of 5 sectors were higher, led by industrial stocks. Source: Bloomberg
Japan's stocks fluctuate as semiconductor-related companies followed their US peers higher, while real estate names and other firms dependent on domestic demand fell. Topix rose 0.1% to 2,729.71 as of 9:17 a.m. Tokyo time Nikkei 225 advanced 0.1% to 39,215.63 In a thin US trading session at the start of a holiday-shortened week, the S&P 500 finished near session highs. Honda Motor contributed the most to the Topix's gain, increasing 13% after announcing it will buy back as much as ¥1.1 trillion of shares. Honda has sketched plans for a deal that amounts to an acquisition of Nissan...
Shares in Asia traded in a tight range amid relatively thin holiday trading after a rally in some of the world's biggest technology companies boosted U.S. benchmarks. Stocks swung between gains and losses in Japan and were slightly lower in Australia, with sessions shortened in Hong Kong and Sydney for Christmas Eve. U.S. stock futures were little changed after Tesla Inc. and Nvidia Corp. pushed the "Magnificent Seven" megacap benchmark up 1.4% on Monday, helping the S&P 500 erase an earlier decline triggered by weaker-than-expected U.S. consumer confidence data. The 10-year Treasury...