The Hang Seng Index plunged 404 points, or 1.6%, to close at 24,773 on Thursday (July 31), marking its third consecutive decline and its lowest close in two weeks. Sentiment worsened after China's official PMI showed services activity grew at its slowest pace in eight months and factory output fell the most in six months, amid rising trade barriers and extreme weather. Meanwhile, US President Trump's "reciprocal" tariff suspension is set to expire on Friday, with only eight trade deals reached in the past 120 days. On the monetary front, Fed Chairman Powell dismissed expectations of a...
Japanese shares rose on Wednesday as markets reopened following a one-day holiday. The Nikkei 225 edged up 0.2% to around 35,900, while the broader Topix Index climbed 0.7% to 2,670, extending recent gains. Investor sentiment was buoyed by comments from US Treasury Secretary Scott Bessent, who said the US held "substantial talks" with Japan regarding a potential trade agreement. However, domestic data provided a mixed picture—industrial production declined more than expected in March, and retail sales growth fell short of forecasts. Attention now shifts to the Bank of Japan's upcoming policy...
U.S. stocks closed higher on Tuesday, boosted by reports that a major trade deal is nearing completion and corporate earnings. The S&P 500 rose 0.58%, posting its sixth straight gain and marking its longest winning streak since November. The Dow Jones Industrial Average rose 300 points, or 0.75%, its best gain since July, while the Nasdaq Composite added 0.55%. Honeywell (+5.4%) and Sherwin-Williams (+4.9%) led the Dow after reporting strong quarterly results. General Motors fell 1.1%, after canceling its share buyback and withdrawing its outlook on possible tariffs while Amazon was...
European markets closed higher on Tuesday after investors pored over a raft of earnings for indications of the impact of U.S. tariffs and global economic uncertainty. The Stoxx 600 index closed 0.4% higher, with utilities and health care leading gains. Regionally, the FTSE 100 closed up 0.6% — its 12th straight day of gains and its best gain in at least five years. France's CAC 40 and Germany's DAX rose 0.1% and 0.8%, respectively. Volvo Cars shares fell 10% after the automaker reported a sharp drop in first-quarter profit and suspended its full-year guidance due to market headwinds....
US stocks were muted on Tuesday as markets assessed the latest earnings and the risks that tariffs and uncertain economic policy may have on corporate returns. The three main averages were close to the flatline. Trade and economic policy uncertainty drove UPS to refrain from giving a full-year outlook, pressuring their shares by 2%. Also, while GM sank 4% after it cancelled its share buyback and pulled its outlook due to the possibility of tariffs. Additionally, Amazon fell by 1% after stating it will list the additional surcharge on its goods due to tariffs, driving White House officials...
The Hang Seng rose 36 points or 0.2% to end at 22,008 on Tuesday, mainly helped by strength in tech and financials after a muted prior session. Markets trimmed early gains, amid caution ahead of April's official PMI data in China that will be due Wednesday. Investors continued to await more clarity on U.S. tariff plans and their potential impact on China. Beijing Monday held off on new stimulus but reiterated support for exporters and workers affected by U.S. tariffs and said contingency plans for the economy are in place. Meantime, mainland markets will be closed from May 1 for a 5-day...