The Hang Seng Index plunged 265 points, or 1.1%, to close at 24,508 on Friday (August 1), weakening for a fourth session and hitting a two-week low. Risk sentiment weakened after the US imposed high tariffs on dozens of trading partners, while US futures prices fell sharply after higher June inflation data. The new tariffs are expected to add to price pressures, fueling concerns about further inflation. Traders are also cautious ahead of US employment data due later today. For the week, the index fell 3.5%, its first weekly decline in four weeks, amid concerns about slowing Chinese...
The Hang Seng surged 532 points or 2.3% to close at 23,641 on Wednesday, recovering from the prior session's sharp drop after softer-than-expected U.S. consumer inflation eased concerns over the inflationary impact of U.S. tariff policies. Gains were broad-based, led by consumers and financials. The tech index also saw solid gains, as Nvidia and AMD will supply semiconductors to Saudi Arabia's Humain for a data center project. Separately, the U.S. is reportedly mulling a deal allowing the UAE to import over a million advanced Nvidia chips. Investors turned their focus to earnings from...
Japanese stocks were down after the close on Wednesday (5/14), as losses in the Paper & Pulp, Transportation and Communications sectors led shares lower. At the close in Tokyo, the Nikkei 225 was down 0.14%. The best performers on the Nikkei 225 were Nexon Co Ltd (TYO:3659), which rose 16.88% or 382.50 points to trade at 2,648.50 at the close. Meanwhile, Takara Holdings Inc. (TYO:2531) gained 9.40% or 107.00 points to close at 1,245.50 and Marui Group Co., Ltd. (TYO:8252) gained 8.95% or 253.00 points to 3,079.00 in late trade. The worst performers on the session were Idemitsu Kosan...
European stock markets lacked direction on Wednesday, with the STOXX 50 and STOXX 600 fluctuating around the flatline, with the recent rally, fueled by easing global trade tensions, showing signs of losing steam. Travel and leisure, real estate and oil and gas stocks led gains, while media, utilities and chemicals lagged. Traders were also closely watching corporate earnings. Daimler Truck Holding rose about 1% after the company cut its full-year outlook but maintained margin expectations for its North American truck division. E.ON edged up 0.2%, reaffirming its full-year guidance....
Hong Kong stocks rose 259 points, or 1.1%, to 23,368 in early trade on Wednesday, recovering from sharp losses in the previous session as most sectors rallied ahead of key earnings from major Chinese technology companies. The Hang Seng Tech Index led the gains, jumping 1.3%, after a rally in U.S. chipmakers overnight on news that Nvidia and AMD will supply semiconductors to Saudi firm Humain for data center projects. Ubtech Robotics jumped 3.3% after announcing a partnership with Huawei to launch humanoid robots in homes and factories. Consumer and financial stocks also posted solid gains,...
The Nikkei 225 index fell 0.1% to around 38,150 while the broader Topix index fell 0.4% to 2,761 on Wednesday, paring gains from earlier in the week as investors locked in profits after a strong rally. However, Japanese shares have recovered all of the losses since U.S. President Donald Trump announced his broad-based tariffs in early April as trade negotiations and a temporary easing of tariffs between the U.S. and China helped boost market sentiment. Investors also reacted to the latest economic data showing that Japanese producer prices rose 4% year-on-year in April, slowing from 4.2% in...