European stocks posted slight declines on Monday (July 21st) as markets continued to assess the trade outlook in the European Union. The Eurozone STOXX 50 fell 0.3% to close at 5,342, and the pan-European STOXX 600 fell 0.1% to 546. US officials maintained the threat of 30% tariffs on EU exports while the EU Commission continued to negotiate lower tariffs ahead of the August 1st deadline. Meanwhile, the EU also signaled that aggressive retaliation would be pursued if no deal was reached, risking escalation and higher prices in the bloc. Shares of luxury goods giants led the decline in the...
Asia-Pacific markets mostly rose Tuesday following gains on all three Wall Street benchmarks overnight, despite mounting global trade frictions. China pushed back against the U.S.′ accusations that it had violated a temporary trade agreement. Instead, the Asian powerhouse blamed Washington for failing to uphold the deal — a sign that negotiations between the world's two largest economies are deteriorating. Meanwhile, the European Union criticized U.S. President Donald Trump's intention to double steel tariffs to 50%, saying that such a move "undermines" its own negotiations with the U.S....
(Hong Kong) In the financial markets today, the Hang Seng Index opened with a gain of 123 points or 0.53%, reaching 23,281 points. The state-owned enterprise index also saw an increase of 47 points or 0.57%, hitting 8,407 points, while the technology index climbed by 27 points or 0.54% to 5,162 points. Tech stocks are performing well, with Tencent rising by 1.1% and crossing the 500 yuan threshold. Other major tech companies like Alibaba, Meituan, Xiaomi, JD.com, and Kuaishou saw stable movements. Financial stocks are holding steady, with HSBC Holdings, AIA Group, China Ping An, and Hong...
The Nikkei 225 Index rose 0.4% to above 37,600 on Tuesday, snapping a two-day decline and taking cues from a positive lead on Wall Street despite investor concerns over rising global trade tensions. US President Donald Trump's recent announcement to double tariffs on steel imports to 50% drew criticism from key trading partners and raised concerns about potential ripple effects on Japan's steel industry. Meanwhile, China rejected Trump's claims that it had breached a temporary trade agreement, adding uncertainty to the outlook for future negotiations. With no major domestic economic data...
The S&P 500 index closed higher on Monday as investors were still optimistic over trade talks between the United States and its trading partners despite President Donald Trump's latest salvo to double tariffs on imported steel and aluminum. Trump said late on Friday he planned to increase tariffs on imported steel and aluminum to 50% from 25% starting Wednesday, just hours after he accused China of violating an agreement. China said on Monday that U.S. President Donald Trump's accusations that Beijing had violated the consensus reached in Geneva trade talks were "groundless" and...
US stocks rose on Monday, starting June with gains despite rising global trade tensions. The S&P 500 rose 0.4% and the Nasdaq gained 0.7%, while the Dow gained 35 points. Tensions between the US and China have flared again after Beijing dismissed US accusations of violating a tariff truce, instead blaming Washington. Markets are eyeing a possible phone call this week between President Trump and Chinese President Xi, which could prove crucial for trade clarity. Meanwhile, Trump's plan to double tariffs on steel and aluminum to 50% has rattled the EU, which has warned that the move would...