Hong Kong stocks rose 98 points, or 0.4%, to 24,607 in early trading on Monday, ending a four-day losing streak amid gains led by the property and technology sectors. Sentiment improved after China's top leaders pledged to support the economy and tackle "irregular competition" at last week's Politburo meeting. Beijing also confirmed plans to hold its fourth plenary session in October, which will likely focus on the next five-year plan. A modest rebound in US stock futures added support, following Wall Street's sharp decline on Friday due to weak employment data. On tariffs, US Treasury...
The S&P 500 hovered around the flatline, the Nasdaq fell about 0.6% and the Dow Jones gained nearly 90 points on Friday, with the tech sector remaining under pressure and traders digesting the latest PCE report and escalating trade tensions. Nvidia shares dropped 2%, extending the previous session's sell-off after its quarterly results failed to impress investors. Also, Broadcom was down 0.8%, Tesla fell 0.9%, and Oracle slipped 2%. Meanwhile, PCE price data aligned with expectations, with annual rates easing slightly. This provided some relief over inflationary pressures and reinforced...
European markets opened in negative territory on Friday, after U.S. President Donald Trump threatened once again to slap tariffs on the EU and followed through with new levies on Canada and Mexico. The pan-European Stoxx 600 index was 0.5% lower during early trade, with almost every sector losing ground. All major bourses saw losses, with France's CAC 40 and the German Dax both down more than 0.5%. Regional markets ended Thursday's session lower after Trump threatened to impose 25% duties on imports from the EU, saying the tariffs would be announced "very soon" and apply to "cars and...
The Hang Seng plunged 777 points, or 3.3%, to close at 22,941 on Friday, falling for a second day after the U.S. slapped 10% tariffs on Chinese imports, adding to the 10% tariffs imposed on Feb. 4 to bring the total to 20%. In response, China vowed to take all "necessary" countermeasures, further escalating tensions between the two countries. The market extended its decline from a three-year high, down 2.3% weekly, as losses hit all sectors. The tech index plunged 5.3% after Nvidia's disappointing earnings, prompting profit-taking in stocks such as Horizon Robotics (-14.0%), Sunny Optical...
Shares in Japan and South Korea closed sharply lower on Friday as US President Donald Trump's volley of tariff measures sparked fresh fears about a global trade war. Japan's Nikkei 225 closed down 2.88 percent at 37,155.50, while in Seoul the Kospi ended 3.39 percent lower at 2,532.78. The Hang Seng in Hong Kong was off 3.47 percent in afternoon trade. Source: AFP
Shares in Hong Kong plunged 309 points or 1.3% to 23,415 on the last trading day of February, marking a second session of losses. Sentiment deteriorated as the US will impose an additional 10% tariff on Chinese imports on March 4 while moving forward with 25% levies on products from Canada and Mexico. The Hang Seng fell further from its highest in over three years, hit earlier in the week, and was on track for its first weekly drop in seven, with all sectors suffering sharp losses. The tech index tumbled over 2.5% as an AI-driven rally lost steam after Nvidia's underwhelming earnings...