Hong Kong stocks rose modestly on Tuesday, as investors positioned ahead of the Politburo meeting in China that could set the economic tone for the rest of the year, while sentiment remained upbeat following the launch of the world's largest hydropower dam project on the eastern rim of the Tibetan Plateau. The Hang Seng Index gained 135.89 points, or 0.5%, to close at 25,130.03, while the Hang Seng China Enterprises Index (HSCEI) added 35.40 points, or 0.4%, to 9,075.60. Focus is now on the upcoming Politburo meeting, convened by Chinese President Xi Jinping later this month, which could...
US stock futures jumped on Tuesday after President Donald Trump announced over the holiday weekend that he would postpone the implementation of a 50% tariff on European Union goods, extending the deadline to July 9. The decision follows a volatile week for financial markets, driven by growing concerns over the US fiscal outlook and persistent trade uncertainties. Last week, the Dow dropped 2.47%, the S&P 500 fell 2.61%, and the Nasdaq Composite lost 2.47%. Apple shares were particularly hard hit, plunging 7.57% after Trump warned that iPhones sold in the US must be manufactured...
European stocks closed sharply higher on Monday after the U.S. voted to push back tariffs on the European Union back to their original date. The eurozone STOXX 50 closed 1.3% higher at 5,397 and the pan-European STOXX 600 gained 1% to close at 550. U.S. President Trump said Friday's 50% tariffs on the EU would be delayed until July, and sounded a note of optimism about aggressive trade levies. Consistently, EU Commission President Von der Leyen noted that a deal could be reached by the July 9 deadline. As a result, sectors with a large exposure to U.S. consumers outperformed and bounced...
The U.S. dollar fell against its major counterparts as U.S. equity futures rose following President Donald Trump's decision to postpone an increase in tariffs on the European Union. The U.S. dollar index (DXY) initially dropped before recovering most of its losses during the day. Meanwhile, the EUR/USD pair rose by 0.5% before settling 0.1% higher at $1.1378. On Sunday, President Trump announced he had agreed to delay a 50% tariff on European Union imports until July 9. This decision came after a conversation with the European Commission President, Ursula von der Leyen. Trump described...
The Hang Seng tumbled 319 points or 1.4% to close at 23,282 on Monday, erasing gains from the previous session as losses spread across consumer, tech, and financial sectors. The selloff followed remarks by U.S. President Trump, who threatened a 25% tariff on iPhones not made in the U.S.—later adding Samsung would face similar treatment. iPhone supplier Luxshare slipped 0.2%. BYD tumbled 9% after launching steep discounts in a recent promotion, dragging down other EV makers: Geely Auto (-8.6%), Li Auto (-4.0%), NIO (-3.5%), and Xpeng (-4.4%). Caution also grew ahead of China's industrial...
Japan stocks were higher after the close on Monday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 1.01%. The best performers of the session on the Nikkei 225 were Keisei Electric Railway Co., Ltd. (TYO:9009), which rose 5.77% or 77.00 points to trade at 1,412.00 at the close. Meanwhile, Lasertec Corp (TYO:6920) added 4.98% or 705.00 points to end at 14,865.00 and CyberAgent Inc (TYO:4751) was up 4.51% or 64.00 points to 1,481.50 in late trade. The worst performers of the session were Isetan Mitsukoshi Holdings Ltd....