The Hang Seng Index plunged 404 points, or 1.6%, to close at 24,773 on Thursday (July 31), marking its third consecutive decline and its lowest close in two weeks. Sentiment worsened after China's official PMI showed services activity grew at its slowest pace in eight months and factory output fell the most in six months, amid rising trade barriers and extreme weather. Meanwhile, US President Trump's "reciprocal" tariff suspension is set to expire on Friday, with only eight trade deals reached in the past 120 days. On the monetary front, Fed Chairman Powell dismissed expectations of a...
Hong Kong equities fell 59 points or 0.3%, to 22,913 in early trade on Wednesday, retreating from the previous session's rally. Sentiment was weighed by a fresh threat from US President Donald Trump to impose 25% tariffs on automobile, semiconductor, and pharmaceutical imports. Additionally, some traders booked profits after the market hit a four-month high in the prior session. Limiting further losses, US futures edged higher following Wall Street's S&P 500 closing at a record high overnight. Meanwhile, China's new home prices fell 5.0% year-on-year in January, the mildest decline in...
The Nikkei 225 Index fell 0.2% to below 39,200 on Wednesday, ending a two-day rally as investors reacted to disappointing economic data. Core machinery orders in Japan, a key indicator of capital spending, unexpectedly dropped in December. Additionally, Japan reported a larger-than-expected trade deficit for January, with import growth outpacing exports. Investors also continued to monitor developments in global trade, as US President Donald Trump plans to impose reciprocal tariffs on countries that tax US imports by April. In corporate news, Honda indicated its willingness to resume merger...
Asia-Pacific stocks were mostly down Wednesday, breaking ranks with Wall Street that saw the S&P 500 close at a record high as investors appeared to look past tariffs and inflation headwinds. Japan's benchmark Nikkei 225 fell 0.62% while the broader Topix index was down 0.59% as the country reported a two-year high trade deficit. Business sentiment for Japanese manufacturers rose for the second month in February, results from the Reuters Tankan poll indicates. The manufacturers' sentiment index rose to plus 3 — its highest level since November — from plus 2 in January. Over in South...
Stocks fell slightly on Tuesday, with the S&P 500 struggling to reach an all-time high set a month ago, as traders weighed headwinds on global trade and inflation. The broad-market index fell 0.01%, while the Nasdaq Composite fell 0.5%. The Dow Jones Industrial Average fell 206 points, or 0.4%. Earlier on Tuesday, the S&P 500 was less than 0.1% from its intraday record. Energy was the best-performing sector in the S&P 500, rising 1.9%. Halliburton and Valero Energy led the gains. Technology stocks also rose slightly. However, a more than 1% decline in consumer and...
European markets closed higher on Tuesday (2/18), hitting another record high, as defense stocks continued to rally on expectations of higher national spending. The pan-European Stoxx 600 closed 0.32% higher at 557.17 points, the latest in a string of records this month. The Stoxx 600 Aerospace and Defense index, which also hit a record high during Monday's session, rose another 1%, with Polish defense equipment maker Lubawa jumping 14% and German defense producer Renk Group gaining 2.7%. Geopolitical tensions were in focus on Tuesday as U.S. officials held talks with Russia to end the...