Japanese stocks fall as uncertainty over a U.S. government shutdown and the impact of tariffs on earnings persists. Financial stocks lead declines. Dai-ichi Life Holdings declines 2.5% and Mizuho Financial Group is 1.9% lower. USD/JPY is at 148.13, compared with 148.19 as of Tuesday's Tokyo stock market close. Investors are focusing on any developments related to a potential U.S. government shutdown as well as the leadership election for the ruling Liberal Democratic Party of Japan. The Nikkei Stock Average is down 0.3% at 44802.93. Source: Dow Jones Newswires
European stocks closed sharply higher on Friday, recovering from losses in the previous two sessions, as markets reassessed the impact of new US tariffs and how major European companies should navigate global tariff uncertainty. The Eurozone STOXX 50 rose 0.9% to 5,495, and the pan-European STOXX 600 gained 0.7% to 554. Major bank stocks led the session's gains amid falling long-term bond yields in the currency bloc, supporting BBVA, BNP Paribas, Nordea, and Intesa Sanpaolo to gain more than 2%. Meanwhile, ArcelorMittal rose 3% on news that the European Commission plans to impose tariffs of...
The Hang Seng slipped 356 points, or 1.4%, to end at 26,128 on Friday, marking a second straight session of losses as consumer stocks slumped after President Trump proposed steep tariffs, including a 100% levy on branded drugs not made in the U.S., a 25% tariff on heavy trucks, and duties of up to 50% on furniture. Sentiment was also cautious ahead of China's week-long National Day and Mid-Autumn Festival holidays starting October 1, and Hong Kong markets also shut on October 1 and 7. Pharma stocks led falls, with the Hong Kong-listed innovative drug index down 3%, dragged by Wuxi Biologics...
Major European bourses traded slightly higher on Friday, with the STOXX 50 up 0.4% and the STOXX 600 gaining around 0.3%, after two straight sessions of losses. However, upside momentum was capped by US President Trump's new tariff measures. Starting October 1st, branded or patented pharmaceutical products will face a 100% tariff unless the manufacturer is building a production facility in the US. Additional duties include a 25% levy on heavy trucks, a 50% tariff on kitchen cabinets and bathroom vanities, and a 30% tax on upholstered furniture imports. Sector-wise, travel and leisure,...
Japan stocks were lower after the close on Friday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 lost 0.80%. The best performers of the session on the Nikkei 225 were Fujifilm Holdings Corp. (TYO:4901), which rose 3.56% or 128.00 points to trade at 3,727.00 at the close. Meanwhile, Japan Steel Works Ltd (TYO:5631) added 3.41% or 293.00 points to end at 8,889.00 and Tokyo Tatemono Co., Ltd. (TYO:8804) was up 3.29% or 96.00 points to 3,012.00 in late trade. The worst performers of the session were Lasertec Corp...
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...