Hong Kong stocks fell 50 points, or 0.2%, to 24,851 in Wednesday morning trading, ending a two-day winning streak amid weakness in the technology, consumer discretionary, and financial sectors. Sentiment worsened after Wall Street closed lower overnight, as weak US data underscored the economic impact of tariffs on activity and earnings. Risk appetite was further dented by reports that two Chinese nationals were arrested in California for allegedly smuggling AI chips, including the Nvidia H100, to China. Caution also grew ahead of China's July trade data and inflation report, with lingering...
The Hang Seng rose 71 points or 0.3% to close at 21,981 on Friday, recovering from the previous session's declines following a strong rally on Wall Street Thursday. Sentiment also improved after PBoC Governor Pan Gongsheng reaffirmed the central bank's commitment to an "appropriately loose" monetary policy to support China's economy. Reports that Beijing may exempt some U.S. goods from its 125% tariffs also lifted the mood, as China weighs the economic toll of the trade war. For the week, the index added 2.7%, its second straight weekly gain, fueled by optimism over Beijing's move to...
The STOXX 50 rose 0.7% and the STOXX 600 gained 0.4% on Friday, marking a fourth consecutive session of gains. Both indexes were on track to end the week up approximately 3.7% and 2.4%, respectively. Investor sentiment was buoyed by easing trade tensions and a more conciliatory tone from the White House. On Thursday, President Trump stated that his administration was in discussions with China, while Bloomberg reported today that Beijing is considering suspending its 125% tariff on certain US imports, citing sources familiar with the matter. Travel and auto stocks were among the top...
Japan stocks were higher after the close on Friday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 1.95%. The best performers of the session on the Nikkei 225 were Nidec Corp (TYO:6594), which rose 12.48% or 278.50 points to trade at 2,510.50 at the close. Meanwhile, JTEKT Corp. (TYO:6473) added 8.86% or 91.50 points to end at 1,124.00 and Fujikura Ltd. (TYO:5803) was up 8.79% or 426.00 points to 5,272.00 in late trade. The worst performers of the session were Hino Motors, Ltd. (TYO:7205), which fell 5.00% or 23.30...
(Hong Kong) The Hang Seng Index opened strong, climbing 170 points or 0.77% to 22,080. Meanwhile, the China Enterprises Index rose 61 points or 0.75% to 8,117, and the Technology Index gained 62 points or 1.24% to reach 5,037. Tech stocks showed broad improvement. Tencent advanced by 1.9%, Alibaba increased by 2.1%, and Kuaishou rose 1.2%. However, Meituan lagged behind, declining by 1.1%. Xiaomi Group and JD.com recorded modest gains of 0.7% and 0.4%, respectively.The auto sector saw mixed performance. NIO surged by 6.2%, leading the pack, while XPeng Motors rose 2.2% and Li Auto gained...
The Nikkei 225 surged 1.6% to above 35,600, while the broader Topix Index gained 1.3% to 2,626 on Friday, with Japanese shares rising for the third straight session following a tech-led rally on Wall Street overnight. Investors also continued to monitor trade developments after President Trump claimed tariff talks with China were ongoing, despite Beijing's denial of any current negotiations. Meanwhile, fresh data showed Tokyo's core inflation jumped to a two-year high of 3.4% in April, complicating the Bank of Japan's efforts to navigate rising prices alongside mounting pressure from U.S....