The Hang Seng Index plunged 265 points, or 1.1%, to close at 24,508 on Friday (August 1), weakening for a fourth session and hitting a two-week low. Risk sentiment weakened after the US imposed high tariffs on dozens of trading partners, while US futures prices fell sharply after higher June inflation data. The new tariffs are expected to add to price pressures, fueling concerns about further inflation. Traders are also cautious ahead of US employment data due later today. For the week, the index fell 3.5%, its first weekly decline in four weeks, amid concerns about slowing Chinese...
Asia-Pacific markets had a sluggish open as investors awaited the extent of the impact of U.S. President Donald Trump's tariffs on corporate earnings and economic data expected from Wall Street this week. Market watchers were also closely monitoring developments surrounding trade deal negotiations between the U.S. and countries in the region. Australia's benchmark S&P/ASX 200 started the day 0.38% higher. Over in South Korea, the Kospi index was down 0.13% while the small-cap Kosdaq added 0.43%. Futures for Hong Kong's Hang Seng index stood at 21,999, pointing to a slightly higher...
U.S. stocks ended mixed on Monday as Wall Street braced for a packed week of big-name earnings and key economic data. The S&P 500 rose about 0.1% and the Dow Jones Industrial Average gained 0.3%, with both indexes posting their fifth straight session of gains, while the Nasdaq 100 fell 0.1%, weighed down by early losses before a late-session rebound in Big Tech. Investors remain focused on upcoming quarterly results from Amazon, Apple, Meta Platforms and Microsoft, as well as signs of how President Trump's sweeping tariffs are affecting the company's outlook. While earnings have largely...
European markets closed higher on Monday, as investors digested a slew of key earnings and data releases in both Europe and the U.S. this week. The Stoxx 600 closed provisionally higher by 0.5%, with travel and banking sectors leading gains. Regionally, the FTSE 100 closed up 0.02% — its 11th straight day of gains and its best gain since late 2019. France's CAC 40 and Germany's DAX rose 0.5% and 0.06%, respectively. Top posts Deliveroo shares jump after DoorDash bid as company suspends share buybacks | see post Mediobanca makes $7.2 billion takeover bid for Banca Generali | see...
The three major averages in the US kickstarted the week in the green with the S&P adding around 0.3%, Dow Jones adding 200 points and the Nasdaq swinging between small gains and losses, amid a confluence of earnings optimism, softer borrowing costs and manageable commodity prices provided support. Anticipation of upside surprises from mega cap tech names—Microsoft, Apple and Amazon are widely expected to report strong top- and bottom-line beats alongside aggressive share-buyback and dividend plans—helped offset lingering trade-war jitters following conflicting U.S. and Chinese...
The Hang Seng finished flat at around 21,981 on Monday, as traders digested a key press briefing in China following Friday's Politburo meeting. Officials promised to support exporters and workers affected by U.S. tariffs while preparing contingency plans for the broader Chinese economy. The muted session followed modest losses in early trade, with strength in financials and tech offsetting weakness in property and consumers, after Beijing refrained from rolling out fresh stimulus, indicating that further actions would be launched as the situation evolves. Meanwhile, U.S. futures fell...