Hong Kong shares were little changed in Friday morning deals, hovering around 26,165 after two sessions of declines, as weakness in property and financials was offset by gains in tech and consumer stocks. Traders assessed China's CPI data showing consumer prices flat in 2025, below the official target of around 2%, even as December inflation hit a near 3-year high of 0.8%. Meanwhile, producer prices in the country fell for the 39th straight month, although the pace of decline eased slightly. In the U.S., stock futures were steady ahead of key jobs data, while the Supreme Court prepared to...
The Hang Seng Index started the day down by 212 points or 0.8%, closing at 26,272 points; the H-share index fell by 77 points or 0.82%, to 9,366 points; while the technology index dropped by 61 points or 0.96%, settling at 6,317 points. In the tech sector, Tencent saw a decline of 0.7%; Alibaba dropped by 2%; Meituan fell by 1.2%; Xiaomi Group was down by 0.7%; JD.com Group experienced a 1.6% decrease; and Kuaishou dropped by 0.1%. Financial stocks exhibited softness, with HSBC Holdings falling by 1.1%; AIA Insurance down by 0.4%; China Ping An declining by 0.7%; and Hong Kong Exchanges...
Asia-Pacific markets fell Friday after U.S. President Donald Trump announced fresh tariffs on furniture, heavy trucks and pharmaceutical products. Starting from Oct. 1, kitchen cabinets, bathroom vanities and associated products will face a 50% tariff, while a 30% tariff will be charged for upholstered furniture, Trump said on Truth Social early Friday. Additionally, heavy trucks will be imposed a 25% levy. Meanwhile "any branded or patented Pharmaceutical Product" faces 100% duties, except for companies that build drug manufacturing plants in the U.S., Trump added. Overnight in the U.S.,...
The Japanese stock market is poised to weaken on Friday due to uncertainty over the impact of US tariffs on corporate profits. Nikkei futures on the SGX fell 0.3% to 45,330, signaling pressure on the Japanese stock market.However, the weakening yen provided some support. The USD/JPY exchange rate stood at 149.85, higher than Thursday's close of 148.83. A weaker yen typically benefits Japanese exporters by increasing the competitiveness of their products in the global market. Investors are now focused on developments in the ruling Liberal Democratic Party (LDP) leadership election. The...
US stocks weakened for a third session on Thursday, as investors weighed strong economic data against expectations of future Fed rate cuts. The S&P 500 and Nasdaq 100 each fell 0.5%, the Dow Jones Industrial Average fell 175 points, with all sectors except energy in negative territory. Initial jobless claims fell to 218,000 for the week ending September 20, signaling a resilient labor market, while second-quarter GDP growth was revised up sharply to 3.8% annualized, driven by strong consumer spending and business investment. Market participants are now recalibrating expectations for the...
European stocks closed sharply lower on Thursday, tracking declines in major equity markets amid concerns about rising global interest rates and new trade barriers with the United States. The Eurozone STOXX 50 fell 0.6% to 5,435, and the pan-European STOXX 600 fell 0.7% to 550. European yields rose sharply after strong US economic data dampened speculation of two more Federal Reserve rate cuts this year, pressuring credit-sensitive sectors, with Ferrari, Adidas, Stellantis, and Saint-Gobain all down more than 2%. Meanwhile, shares of biotechnology companies plunged after US authorities...