The Hang Seng Index weakened 146 points, or 0.5%, to close at 27,141 on Friday (October 3), retreating from a four-year high after three sessions of gains, as traders took profits following five consecutive months of gains since May. Sentiment was also impacted by concerns over the US government shutdown, which has halted much official activity, including the jobs report originally due today, with markets bracing for a shutdown that could last until next week. Trading was also sluggish as mainland Chinese markets remain closed until October 8. The decline was broad-based, with technology...
European markets moved lower on Friday, ending a tumultuous week marked by erratic U.S. tariff policy, the European Central Bank's latest interest rate cut, German fiscal reform and increased regional defense spending. The U.K.'s FTSE 100 is set to open down 48.9 points at 8,643, France's CAC 40 is down 80 points at 8,146 and Germany's DAX is down 308 points at 23,136, according to IG data. The regional Stoxx 600 index has swung between losses and gains this week amid geopolitical developments and corporate earnings. The benchmark is now headed for a weekly loss, which would be its first...
The Nikkei 225 Index fell 2.17% to close at 36,887 on Friday, nearing its lowest levels since September and tracking losses on Wall Street, where technology stocks were hit by heavy selling pressure. President Trump's shifting tariff policies and the escalating global trade war fueled fears about the economy, increasing market uncertainty. Additionally, local equities faced pressure from a stronger yen and rising Japanese Government Bond (JGB) yields, as expectations grow that the Bank of Japan will continue raising interest rates this year. Economy Minister Ryosei Azakawa announced that...
The Nikkei 225 Index dropped 2.2% to below 36,900 on Friday, sliding toward its lowest levels since September and tracking losses on Wall Street overnight, where technology stocks came under heavy selling pressure. Trump's shifting tariff policies and escalating global trade tensions also fueled concerns about economic growth, adding to the bearish sentiment. Additionally, local equities faced pressure from a stronger yen and rising JGB yields. These moves come as the Bank of Japan is widely expected to continue raising interest rates this year. BOJ Deputy Governor Shinichi Uchida...
Asia-Pacific markets are set to mostly fall on Friday, mirroring losses on Wall Street after U.S. President Donald Trump's tariff concessions failed to calm investors. Traders were also worried by economic data from the U.S., which raised alarm that Trump's policies could hinder the U.S. economy. The Federal Reserve's Beige Book and the Institute for Supply Management's manufacturing reading both indicated fear of rising input costs because of the tariffs. Data from Challenger, Gray & Christmas released Thursday showed layoff announcements soared to 2020 highs, which the outplacement...
Stocks resumed their steep pullback on Thursday as the latest concessions from the White House on President Donald Trump's controversial tariff policies failed to calm rattled investors. The Dow Jones Industrial Average slid 427.51 points lower, or 0.99%, to 42,579.08, after falling more than 600 points at session lows. The S&P 500 tumbled 1.78% to 5,738.52. The Nasdaq Composite dropped 2.61% to 18,069.26, officially closing in correction territory, which is when an index falls 10% from a recent high. Thursday's declines come as U.S. tariffs on Canadian, Mexican and Chinese imports...