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...
US stocks were lower on Monday, with the S&P 500 down 1%, the Nasdaq falling 1.3%, and the Dow shedding around 280 points, as investors retreated from US assets amid growing concerns over the country's fiscal and economic outlook. The sell-off followed Moody's downgrade of the US credit rating from Aaa to Aa1 on Friday, citing rising government debt and a widening budget deficit. Adding to the pressure, a key congressional committee on Sunday approved President Trump's proposed tax-cut package, which includes hundreds of billions of dollars in new, unfunded tax reductions, deepening...
The Hang Seng ended little changed to end at 23,333 on Monday, swinging early drop amid gains mainly from consumer stocks. Sentiment improved after China's April factory activity showed strength despite rising U.S. tariffs. Meantime, new home prices in the mainland fell the least in 11 months, though it marked the 22nd straight monthly drop. Investors also awaited a scheduled call between U.S. President Trump and Russian Putin, hoping it could ease tensions over the war in Ukraine. Locally, Hong Kong's economy expanded 3.1% yoy in Q1 2025, in line with flash estimates and up from a revised...
The Nikkei fell 255 points or 0.7% to close at 37,499 after a flat performance in the prior session, while the broader Topix edged down almost 0.1%, marking its second consecutive subdued day. A sharp drop in U.S. futures rattled sentiment after Moody's downgrade of the U.S. credit outlook raised fears of a potential flight from U.S. assets. Meanwhile, the White House kept up trade pressure, with Treasury Secretary Bessent warning that partners would face maximum tariffs if they failed to negotiate "in good faith." Investors remained cautious, closely watching U.S.-Japan trade talks as...
European stocks dipped on Monday, snapping a five-week winning streak, as a surprise U.S. credit rating downgrade and weak economic data from China weighed on investor sentiment. The pan-European STOXX 600 index was down 0.5% by 0725 GMT, retreating from seven-week highs touched on Friday. U.S. stock index futures fell more than 1% and longer-dated U.S. Treasury yields rose after credit rating agency Moody's cut its ratings on the country's debt, citing concerns about the nation's growing $36 trillion debt pile. Euro zone government bond yields also edged higher. [GVD/EUR] Meanwhile,...
Asia-Pacific markets fell Monday as investors assess the latest slate of economic data from China and Moody's downgrade of the U.S. credit rating. Hong Kong's Hang Seng index declined 0.73%, while mainland China's CSI 300 dropped 0.48%. Japan's benchmark Nikkei 22 slipped 0.54% while the Topix lost 0.36%. South Korea's Kospi declined 0.47% and the small-cap Kosdaq traded 0.77% lower. Australia's benchmark S&P/ASX 200 was down 0.15%.On Friday, Moody's Ratings downgraded the U.S. sovereign credit rating by one level from Aaa to Aa1, citing mounting challenges in funding the federal...