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 markets are set to start the week on a positive note, with defense stocks seen opening sharply higher after regional leaders held security talks that discussed higher military spending. The U.K.'s FTSE 100 is expected to open 42 points higher at 8,846, Germany's DAX is up 135 points at 22,621, France's CAC is up 34 points at 8,124 and Italy's FTSE MIB is up 18 points at 38,798, according to data from IG. Earnings are due from Euroapi and Bunzl, and key data releases include preliminary euro zone inflation data for February, with the latest consumer price index due ahead of the...
Japan stocks were higher after the close on Monday, as gains in the Mining, Gas & Water and Insurance sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 1.81%. The best performers of the session on the Nikkei 225 were IHI Corp. (TYO:7013), which rose 7.75% or 677.00 points to trade at 9,408.00 at the close. Meanwhile, Recruit Holdings Co Ltd (TYO:6098) added 6.93% or 610.00 points to end at 9,410.00 and Mitsubishi Heavy Industries, Ltd. (TYO:7011) was up 6.74% or 134.00 points to 2,121.00 in late trade. The worst performers of the session were DeNA Co Ltd...
Hong Kong's equities surged 370 points or 1.6% to 23,313 in early trade on Monday, reversing losses from the previous two sessions as traders reacted positively to February's PMI readings in China. Factory activity in the country grew the most in three months, a private survey data showed. Meanwhile, official figures showed the manufacturing sectors unexpectedly expanded while the service economy rose slightly faster than expected. Source: Trading Economics
The Nikkei 225 Index surged 0.9% to around 37,500, while the broader Topix Index gained 1.1% to 2,711 on Monday, recovering some of last week's losses, supported by Wall Street's strong finish on Friday. However, investors remained cautious ahead of the March 4 deadline for US President Donald Trump's proposed 25% tariffs on Mexico and Canada, along with an additional 10% duty on Chinese goods. Geopolitical concerns also remained, as Trump and Ukrainian President Volodymyr Zelensky failed to reach an agreement on Friday that could potentially end the war in Ukraine. Domestically, Japan's...
Asia-Pacific markets were set to rise Monday as investors awaited clarity about U.S. President Donald Trump's plans to impose impose tariffs this week on key U.S. trading partners. U.S. Commerce Secretary Howard Lutnick reportedly told Fox News on Sunday that the exact tariff that will be levied against Mexico and Canada starting Tuesday is still "fluid," which means it could be lower than the proposed 25%. He added that the additional 10% duty on China imports is "set." Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 37,745 while its...