(Hong Kong) On the final trading day of July, the Hang Seng Index opened 194 points, or 0.77%, lower at 24,982. The China Enterprises Index fell by 61 points, or 0.68%, to 8,976, while the Technology Index declined 31 points, or 0.58%, to 5,458. WuXi AppTec saw its share price drop 4% after a discounted share placement. Technology stocks broadly weakened, with Meituan leading the decline, falling 3.06%. Alibaba slipped 0.95%, Xiaomi Group dropped 0.82%, Trip.com Group eased 0.57%, and Tencent edged down 0.36%. Financial stocks also displayed weakness. HSBC Holdings extended its losses by...
U.S. stocks end a shortened week with mixed performances. For the first time on record, the DJIA drops more than 1% while the S&P 500 rises. The Dow industrials are dragged down by a 22% slide on UnitedHealth Group, after the insurer slashes its outlook. Alcoa falls 7% as it expects tariffs on aluminum to create a $100 million headwind on annual earnings. Eli Lilly gains 14% as its experimental pill to fight diabetes while reducing weight meets pivotal goals. Energy and consumer staples stocks are the top gainers among S&P 500 sectors. DJIA falls 1.3%, to 39142; the S&P 500...
US stocks were mostly flat to hold this week's sharp losses before tomorrow's holiday, as markets assessed mixed corporate earnings and risks around President Trump's uncertain tariff policies. The S&P 500 inched above the flatline and the Nasdaq 100 added 0.3% on some respite for the tech sector. TSMC gained 3% on a strong guidance, supporting the broader chip sector after Nvidia's export embargo by Trump and poor results from ASML drove chip stocks to record steep losses this week. On the trade front, threats on tariffs on copper, semiconductors, pharmaceuticals, and lumber were yet...
The Hang Seng rallied 338 points or 1.6% to end at 21,395 on Thursday, rebounding from the previous session's weakness. The recovery tracked a surge in US futures after President Trump cited "big progress" in negotiations aimed at helping Japan avoid higher tariffs. Investor sentiment was also boosted by Chinese President Xi Jinping's call for regional unity and an "Asian family" during his Southeast Asia tour. Gains were broad-based, led by tech, property, and consumer sectors. However, upside momentum was capped after Fed Chair Powell warned that tariffs could slow growth and push up...
Major European bourses traded lower on Thursday, with both the STOXX 50 and STOXX 600 down 0.4% as investors digest fresh corporate earnings, look ahead to the European Central Bank's upcoming policy decision and continue to follow the trade war. Hermes shares fell 3% after the luxury brand reported a 7% year-on-year revenue increase in Q1, falling short of expectations for 7.6%. In contrast, Siemens Energy surged nearly 10% after the company raised its outlook for fiscal 2025, with first-quarter revenue and profit also exceeding forecasts. Meanwhile, the ECB is widely expected to deliver...
The Nikkei 225 index rose 1.35% to close at 34,377 while the broader Topix index jumped 1.29% to 2,530 on Thursday, reversing losses from the previous session as progress in U.S.-Japan trade talks lifted market sentiment. President Donald Trump met with Japanese Economy Minister Ryosei Akazawa, with discussions reportedly expanding to include the cost of troop deployment, adding a geopolitical dimension to the negotiations. On the economic front, Japan's March export growth missed expectations, dragged down by weak demand from China and the EU. However, a return to positive import growth...