Hong Kong stocks fell for the second session, down 46 points or 0.2% to 25,469 on Wednesday morning, after U.S.-China trade talks ended without a meaningful breakthrough. While extending the current tariff truce remains possible, Treasury Secretary Bessent said President Trump will have the final say. Caution also prevailed ahead of the Fed's rate decision later today, with analysts noting most Fed officials prefer to wait and assess the inflationary impact of tariffs before acting, especially with Trump's August 1 tariff deadline looming. Tech shares led the fall, followed by consumers...
Stocks pulled back Tuesday as a sell-off that has engulfed Wall Street in recent weeks resumed after two straight winning sessions. The Dow Jones Industrial Average lost 416 points, or 1%. The S&P 500 shed 1.3%, nearing correction territory; it traded 8.8% below its record. The Nasdaq Composite dropped 1.8%.Tesla, one of the stocks hardest hit during the market's recent correction, was down yet again on Tuesday. The stock fell almost 5% after RBC Capital Markets lowered its price target on the electric vehicle name, citing rising competition in the EV space. It's declined about 36% over...
The Hang Seng surged 595 points or 2.5% to end at a 3-year high of 24,740 on Tuesday, keeping solid gains for the second day amid broad-based sector advances. The tech index led the rally, jumping 4% and tracking a rise at the Nasdaq Golden Dragon China Index Monday, ahead of tech earnings. BYD Co. hit a record after unveiling new fast-charging that rivals traditional refueling times. Baidu soared 12.2% after launching new AI models, while Alibaba and Tencent each climbed 5.5% and 3.0%. Consumers and financials also saw strong gains, buoyed by strong spending in China during early 2025, and...
The Nikkei 225 Index jumped 1.2% to close at 37,845 while the broader Topix Index climbed 1.29% to 2,784 on Tuesday, extending recent gains and tracking Wall Street higher as US retail sales data eased recession concerns. Japanese stocks also benefited from a weaker yen, which enhances the profit outlook for the country's export-driven industries and makes local assets more attractive to foreign investors. Japanese trading firms led the charge after Warren Buffett's Berkshire Hathaway raised its holdings, including Mitsubishi Corp (3.8%) and Mitsui & Co (3.3%). Stronger performances...
Hong Kong shares jumped 450 points or 1.9% to 24,597 on Tuesday morning deals, marking the second session of strong gains as all sectors advanced. The Hang Seng Tech Index climbed 2.8%, with investors focusing on upcoming tech earnings, including Xiaomi Corp. later today. WuXi AppTec Co. surged near 9% to a 14-month top after announcing a cash dividend and share buyback plan. EV maker BYD Co. soared 2.5%, on plans to roll out new super-charging tech across China. Consumers, financials, and property also logged strong gains, buoyed by a "special action plan" from Beijing to spur domestic...
The Nikkei 225 Index rallied 1.3% to around 37,900 while the broader Topix Index jumped 1.2% to 2,780 on Tuesday, extending recent gains and tracking Wall Street higher as US retail sales data eased recession concerns. Japanese stocks also benefited from a weaker yen, which enhances the profit outlook for the country's export-driven industries and makes local assets more attractive to foreign investors. Meanwhile, investors are focused on the upcoming Bank of Japan policy decision this week, with expectations that the central bank will hold interest rates steady at 0.5% when its meeting...