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 S&P 500 regained some ground on Friday, but the index still posted its worst week in several months as the salvo of trade policy actions unnerved investors. The broad index rose 0.55% to 5,770.20, while the Nasdaq Composite gained 0.7% to 18,196.22. The Dow Jones Industrial Average added 222.64 points, or 0.52%, to end at 42,801.72. Friday saw volatile trading, with the Dow falling more than 400 points at session lows before an afternoon rally. The S&P 500 and Nasdaq both fell more than 1% at their worst points in the trading day. Despite Friday's recovery, the S&P 500...
The yield on the 10-year US Treasury note edged up to 4.28% on Friday after Fed Chair Jerome Powell reassured markets that the economy remains solid while emphasizing no urgency to cut rates. However, the yield remained near the four-month low of 4.16% touched on Monday, as uncertainty over US trade policy fueled concerns about economic growth and extended Wall Street's shift toward safer assets. President Trump granted a one-month exemption for Mexican and Canadian goods under the USMCA from new tariffs but vowed to end further relief. Meanwhile, pledges of aggressive spending cuts and...
The S&P 500 rose on Friday, regaining some ground as the benchmark headed for its worst week since September as a series of trade policy moves unsettled investors. The broad index rose 0.4%, while the Nasdaq Composite gained 0.6%. The Dow Jones Industrial Average traded nearly flat. A weaker-than-expected jobs report released Friday raised further concerns about a weakening economy and lower interest rates. Nonfarm payrolls increased by 151,000 jobs in February, short of the consensus estimate for 170,000 from economists surveyed by Dow Jones. The unemployment rate edged up to...
The Hang Seng plunged 138 points, or 0.6%, to close at 24,231 on Friday (07/03), snapping a three-day rally. The decline followed trade data from China showing an unexpected drop in imports in January-February, while exports lost momentum amid rising U.S. tariff pressures. The index retreated from a three-year high as investors turned cautious ahead of China's February CPI and PPI data, due over the weekend. Losses were broad-based, with property, financial and technology stocks leading the decline. JD Logistics plunged 14.0% after reporting weaker Q4 net profit growth, while Semicon...
European markets moved lower on Friday, ending a tumultuous week marked by erratic U.S. tariff policy, the European Central Bank's latest interest rate cut, German fiscal reform and increased regional defense spending. The U.K.'s FTSE 100 is set to open down 48.9 points at 8,643, France's CAC 40 is down 80 points at 8,146 and Germany's DAX is down 308 points at 23,136, according to IG data. The regional Stoxx 600 index has swung between losses and gains this week amid geopolitical developments and corporate earnings. The benchmark is now headed for a weekly loss, which would be its first...