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...
The Nikkei 225 edged up 0.1% to close at 37,529 on Tuesday, following notable losses in the previous session. Investor sentiment was supported by comments from Prime Minister Shigeru Ishiba, who emphasized Japan's commitment to national interests in trade talks, saying Tokyo would not rush a deal with the U.S. ahead of a third round of negotiations this week. Gains were also underpinned by Chinese rate cuts, with the PBoC lowering lending rates to new lows for the first time in seven months to support the sluggish economy. However, early gains were trimmed as U.S. futures dipped slightly,...
(Hong Kong) The Hang Seng Index opened with a gain of 65 points, or 0.28%, to stand at 23,398 on Monday. The China Enterprises Index rose 26 points, or 0.3%, to 8,486, while the Hang Seng Tech Index climbed 11 points, or 0.22%, to 5,266, reflecting mixed performance across technology stocks. Among tech giants, Tencent slipped 0.2%, while Alibaba advanced 0.6%. Meituan declined by 1.1%, but Xiaomi gained 1.2%, JD.com rose 0.2%, and Kuaishou improved by 0.5%. Financial stocks also showed a mixed trend, with HSBC rising 0.3%, AIA slipping 0.6%, Ping An Insurance advancing 0.7%, and Hong Kong...
The Nikkei 225 jumped 329 points or 0.9%, to 37,830 in early Tuesday trade, recovering from the prior day's weakness. The rally followed a modest rise in U.S. futures after the S&P 500 eked out a gain despite Moody's downgrade of the U.S. credit outlook. The broader Topix index also climbed, extending recent gains. Investors kept a close watch on ongoing U.S.-Japan trade talks, hoping for a finalized deal by June. On the corporate front, Reuters said that Nippon Steel plans to invest $14 billion in U.S. Steel's operations. Gains were tempered by caution ahead of Japan's upcoming April...
US stocks pared early losses on Monday, with the S&P 500 ending 0.1% higher after falling 1.1%, as Treasury yields retreated from their highs. The Dow rose 137 points, while the Nasdaq edged higher, as markets digested a Moody's downgrade of the US credit rating to Aa1, citing rising deficits and refinancing risks. The downgrade pushed the 10-year yield near 4.5% and the 30-year above 5%, levels that have previously weighed on equities. Treasury Secretary Scott Bessent downplayed the move and urged trading partners to engage during a 90-day tariff pause. President Trump has continued to...
European stocks recouped losses from earlier in the day to close flat, after bonds came off session lows and several companies delivered good earnings. The Stoxx Europe 600 Index closed 0.1% higher, having earlier shed as much as 0.8%. The losses came after Moody's Ratings stripped the US government of its top credit rating soured investor sentiment and trade tensions continued to weigh. While auto and energy shares lagged, telecoms, travel and leisure stocks made gains. A large quantity of European shares were also trading ex-dividend. Among individual stocks,...