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...
European stocks closed sharply lower on Wednesday, retreating from the previous session's record highs amid downbeat corporate earnings and trade tensions, while investors weighed up the potential for a European bond issue. The eurozone STOXX 600 fell 1.4% to close at 5,458 and the pan-European STOXX 600 dropped 1% to close at 552. Financials and consumer discretionary stocks were among the biggest losers, with Allianz, Munich RE, Santander, Hermes and Inditex all down nearly 3%. Carmakers also tumbled after U.S. President Donald Trump hinted at tariffs on imported vehicles and parts....
US stocks were lower on Wednesday, with three major indexes slipping about 0.3%, as markets pulled back after the S&P 500 reached a record high in the previous session. Investor sentiment was weighed down by renewed concerns over trade tensions after President Donald Trump signaled he would likely impose 25% tariffs on automobile, semiconductor, and pharmaceutical imports, with an announcement expected as soon as April 2. Traders also awaited the release of the FOMC minutes later in the day for further insight into the Federal Reserve's policy outlook. In its January meeting, the...
The European stocks rally took a pause on Wednesday amid mixed earnings and after President Donald Trump's latest tariff threats stoked concern about a widening trade war. The Stoxx 600 Index fluctuated at the open after a gain of around 10% so far this year. Glencore Plc slipped after profit fell, while HSBC Holdings Plc posted better-than-expected earnings. A tech-led advance in Asia stumbled. US equity futures were steady. Trump brandished possible levies of around 25% on automobile, semiconductor and pharmaceutical imports, with an announcement...
The Hang Seng Index fell 0.1% at 22,944.24 in Hong Kong. The move follows the previous session's increase of 1.6%. Meituan contributed the most to the index decline, decreasing 3.0%. Hang Seng Bank Ltd. had the largest drop, falling 3.9%. Today, 38 of 83 shares fell, while 39 rose; 2 of 4 sectors were lower, led by commerce and industry stocks. Source: Bloomberg
European markets saw a mixed open on Wednesday as investors assessed numerous earnings releases and a hotter-than-expected U.K. inflation print. The regional Stoxx 600 index was 0.06% higher in early deals following Tuesday's record close, while sectors and bourses were a mix bag. Dutch healthcare technology group Philips dropped 7% at the open after missing sales growth expectations for the fourth quarter amid a double digit decline in China.Earnings on Wednesday come from BAE Systems,Glencore,Rio Tinto, Koninklijke Philips and Carrefour.Europe's largest lender HSBC earlier on...