The Hang Seng Index weakened 38 points, or 0.15%, to close at 25,524 on Tuesday (July 29th), reversing gains from the previous session as most sectors declined. Traders are increasingly cautious about the potential negative impact of the US-EU trade deal, including its implications for growth and inflation. Meanwhile, President Trump raised global tariffs by 15% to 20% for non-negotiating partners, a level not seen since the Great Depression. Profit-taking also weighed after benchmark indexes in Hong Kong and China recently hit multi-year highs. However, the benchmark indexes pared earlier...
European stocks closed sharply higher on Thursday, extending this week's strong momentum on the back of strong earnings reports and hopes that Ukraine may soon be on the way out, as investors weighed how new U.S. tariffs could affect European growth. The eurozone STOXX 50 jumped 1.7% to 5,500, its first closing high in 25 years, and the pan-European STOXX 600 gained 1.1% to 554. U.S. President Trump announced upcoming talks with Russian President Putin to negotiate a resolution to the ongoing conflict starting in 2022. Auto stocks led the gains with Mercedes Benz, Volkswagen, up between 7%...
US stocks edged higher on Thursday, with the three major averages up around 0.1%, as investors weighed President Trump's trade policies, corporate earnings, and key inflation data. While PPI figures exceeded forecasts, components feeding into the PCE index slowed, providing some relief after hotter-than-expected inflation data released yesterday. Meanwhile, Trump is set to announce reciprocal tariffs later today. Consumer discretionary and materials led gains, while energy lagged. On the earnings front, Cisco surged over 4% after reporting better-than-expected earnings and revenue, while...
Hong Kong's stock market ended lower Thursday with the benchmark Hang Seng Index down 0.2 percent to close at 21,814.37 points. The Hang Seng China Enterprises Index fell 0.69 percent to end at 8,002.63 points, and the Hang Seng Tech Index fell 0.87 percent to end at 5,235.28 points. Source: Bloomberg
Stocks in Europe extended gains on Thursday, with the STOXX 50 rising 0.9% to hit new 25-year highs and the STOXX 600 gaining 0.5% after breaking a fresh record level in the previous sessions. Market sentiment got a boost amid prospects of a potential resolution to the conflict in Ukraine. President Trump announced that the US and Russia would begin immediate negotiations following his conversation with President Putin and that the two leaders would meet in Saudi Arabia for further discussions. Autos, food and beverages, travel and leisure and industrials were among the top performing...
Asia-Pacific markets traded higher Thursday, breaking ranks with Wall Street that fell overnight as a stronger-than-expected U.S. inflation reading diminished prospects of policy easing by the U.S. Federal Reserve. Australia's S&P/ASX 200 rose 0.15%, hitting a record intraday high of 8,575.2, surpassing its previous peak of 8,566.9 scaled on Jan. 31. Japan's Nikkei 225 rose 1.1% while the Topix climbed 0.91%. South Korea's Kospi traded 0.71% higher, while the small-cap Kosdaq traded around the flatline. Hong Kong's Hang Seng Index climbed 0.58% while mainland China's CSI 300 traded...