Europe's Stoxx 600 index erased earlier gains to close 0.23% lower as investors turned less positive over the details of the U.S.-EU trade deal. Autos was among the worst-performing sectors, down 1.8%, as industry bosses warned that while manufacturers have regained some certainty, they will be left facing substantially higher costs. Brewing giant Heineken dropped 8.45% after reporting lower beer sales in the first half and flagging "softening sentiment in Europe and the Americas." Oil and gas stocks meanwhile finished 1.16% higher on broader optimism over the global trade outlook, and as...
The Nikkei 225 jumped 2.1% to above 38,400, while the broader Topix index gained 1.8% to 2,790 on Tuesday, as Japanese equities hit a multi-month high following a strong rally on Wall Street. The market gains came after the U.S. and China agreed to temporarily lower tariffs, easing fears of a prolonged trade war and reducing the risk of a global recession. In a related development, Japanese Prime Minister Shigeru Ishiba stressed that Japan would not accept an initial trade deal with the U.S. unless it included provisions on the auto sector, urging Washington to remove 25% tariffs on Japanese...
Asia-Pacific markets traded mixed on Tuesday (5/13), following a big rally on Wall Street after the US and China agreed to a trade deal. Hong Kong stocks fell at the open with the Hang Seng Index down 1.02% and the Hang Seng Tech Index down 1.55%. This was a reversal of strong gains posted by both indices in the previous session. Meanwhile, mainland China's CSI 300 index started the day flat. In Japan, the benchmark Nikkei 225 index jumped 1.85%, while the broader Topix index gained 1.36%. In South Korea, the Kospi index rose 0.26% while the small-cap Kosdaq index gained...
U.S. stocks roared back on Monday after the U.S. and China agreed to temporarily slash tariffs following negotiations over the weekend in Switzerland, raising hopes a trade war won't push the economy into a recession. The Dow Jones Industrial Average surged 1,160.72 points, or 2.81%, and closed at 42,410.10. The 30-stock index ended the session near its highs of the day, with buying enthusiasm remaining strong. The S&P 500 popped 3.26% to end at 5,844.19, bringing its gain since its April intraday low at the height of tariff pessimism to more than 20%. The benchmark has cut its...
European stock markets closed higher Monday following the White House's announcement that the U.S. and China had agreed to slash tariffs. The Stoxx 600 closed up by 1.1% provisionally, with mining stocks rallying nearly 5% to lead the gains. The U.K.'s FTSE 100 was 0.6% higher as France's CAC 40 moved up 1.4% and Germany's DAX climbed 0.2%. U.S. Treasury Secretary Scott Bessent said on Monday that talks with China had been "very productive." The agreement to suspend most tariffs for 90 days shows a thawing of trade tensions between the world's two largest economies. U.S. stocks opened...
US stocks skyrocketed on Monday, with both the S&P 500 and the Nasdaq soaring about 3% and the Dow Jones jumping more than 1,000 points, after the US and China announced a sweeping 90-day reduction in tariffs following trade negotiations over the weekend in Switzerland. The US said it would lower tariffs on Chinese goods from 145% to 30%, while China will cut levies on US imports from 125% to 10%, both for a 90-day period. The move boosted investor confidence, signalling that both sides are serious about de-escalating trade tensions and encouraging a return to riskier assets. Consumer...