European stocks closed sharply higher on Wednesday (July 23), halting three previous trading sessions' declines, buoyed by speculation that the US might accept lower tariffs following a new trade deal with Japan. The Eurozone STOXX 50 rose 1.1% to 5,350, and the pan-European STOXX 600 gained 1.1% to 550. President Trump lowered tariffs on Japan to 15% from an initial threat of 25%, despite no reports of substantial progress in trade negotiations between the EU and the US. Progress on auto tariffs with Japan, which has significant exposure to automakers, lifted shares of BMW, Stellantis,...
Hong Kong shares rose 205 points, or 0.9%, to 24,385 in early trade on Wednesday (6/25), marking a fourth straight session of gains and maintaining a two-week high. The gains followed an overnight rally on Wall Street, which was driven by optimism that a US-brokered ceasefire between Israel and Iran would hold. Investors also cheered remarks by Fed Chairman Jerome Powell that the central bank is committed to containing inflation and will likely keep interest rates steady until the impact of tariffs becomes clearer. Sentiment was further supported by a third straight day of gains in mainland...
Asia-Pacific markets traded mixed on Wednesday, as investors digested a ceasefire between Israel and Iran, as well as fresh comments from the U.S. Federal Reserve. There was growing optimism that a truce between Israel and Iran brokered by U.S. President Donald Trump is likely to hold. Australia's S&P/ASX 200 was flat. South Korea's Kospi rose 0.31%, while the small-cap Kosdaq fell 0.21%. Japan's benchmark Nikkei 225 index rose 0.11%, while the Topix fell 0.13%. Hong Kong's Hang Seng Index rose 0.66% and mainland China's CSI 300 was flat. U.S. futures were nearly flat. Futures tied...
The Nikkei 225 edged up 0.1% to above 38,800 on Wednesday, while the broader Topix index fell 0.2% to 2,776, as Japanese equities struggled for direction amid geopolitical uncertainty. Investors weighed the sustainability of a U.S.-brokered ceasefire between Iran and Israel, with intelligence reports suggesting a recent U.S. missile strike failed to completely destroy Iran's main nuclear facility. Market participants also digested fresh comments from Fed Chair Powell, who reiterated the Fed's commitment to taming inflation and signaled that interest rates would likely remain unchanged until...
The S&P 500 closed higher Tuesday, underpinned by de-escalating Middle East tensions amid an Iran-Israel ceasefire and remarks by Federal Reserve chairman Jerome that kept the door open to rate cuts. By 4:00 p.m. ET (20:00 GMT), the Dow Jones Industrial Average traded 536 points, or 1.3%, higher, the S&P 500 index gained 1.2%, and the NASDAQ Composite advanced 1.6%. Iran-Israel ceasefire optimism boosts Wall StreetInvestors have been boosted by U.S. President Donald Trump declaring earlier Tuesday, via social media, that the ceasefire between Israel and Iran is now "in effect,"...
European stock markets closed higher in Tuesday trading as the Stoxx Europe 600 rose 1.11%, Germany's DAX advanced 1.60%, the FTSE 100 gained 0.01%, France's CAC 40 increased 1.04%, and the Swiss Market Index was up 1.13%. In Germany, the ifo Business Climate Index for June rose to 88.4 points in June from 87.5 points in May, indicating that companies felt slightly more positive and that the German economy is slowly gaining confidence. The reading also topped the analyst forecast of 88.1, according to Bloomberg. And in corporate news, the Spanish government cleared Banco Bilbao Vizcaya...