Hong Kong stocks rose 98 points, or 0.4%, to 24,607 in early trading on Monday, ending a four-day losing streak amid gains led by the property and technology sectors. Sentiment improved after China's top leaders pledged to support the economy and tackle "irregular competition" at last week's Politburo meeting. Beijing also confirmed plans to hold its fourth plenary session in October, which will likely focus on the next five-year plan. A modest rebound in US stock futures added support, following Wall Street's sharp decline on Friday due to weak employment data. On tariffs, US Treasury...
US stocks rose on Friday, ending a turbulent week on a positive note, as optimism grew over a potential U.S.-China trade deal. The S&P 500 rose 1.8%, the Nasdaq gained 2%, while the Dow gained 618 points. Sentiment improved after comments from the White House that President Trump was "optimistic" China would work toward a deal with the U.S. Trade tensions escalated when President Trump raised tariffs on Chinese goods to 145%, prompting retaliatory measures from China, which raised its duties on U.S. imports to 125%. On the data front, a University of Michigan survey showed consumer...
European stock markets reversed early gains to close lower, capping a turbulent week dominated by escalating trade tensions between the US and China, which reignited fears of a global recession and triggered an aggressive pivot away from US assets. The STOXX 50 fell 0.6% and the broader STOXX 600 slipped 0.2%. China's finance ministry announced additional tariffs of 125% on U.S. goods, in response to President Trump's decision a day earlier to raise levies on Chinese imports to 145%. In Europe, the EU temporarily suspended its planned retaliatory tariffs for a 90-day period, mirroring...
Stocks slipped Friday as traders weighed the latest developments on the tariff front as they wrap up a wild week. The Dow Jones Industrial Average traded 140 points lower, or 0.4%. The S&P 500 shed 0.4%, and the Nasdaq Composite pulled back by 0.2%. This week has been one of the most volatile periods on record for Wall Street. The major averages tumbled Thursday as traders went into risk-off mode, with trade policy uncertainty weighing on sentiment, losing a chunk of the historic gains seen on Wednesday after Trump announced a 90-day reprieve on some of his high "reciprocal"...
The Hang Seng climbed 233 points or 1.1% to close at 20,915 on Friday, rebounding from morning losses as US futures rose sharply after President Biden said the first phase of trade talks was "very close," fueling optimism that China may return to the negotiating table. The index closed in the green for the fourth day, tracking mainland markets, buoyed by Beijing's efforts to stabilize financial markets this week, including stock purchases by a state fund and state-owned firms. Several listed companies also launched share buybacks. Gains were broad-based, led by tech, financials, and...
The Nikkei 225 Index dropped 2.96% to close at 33,585, while the broader Topix Index fell 2.85% to 2,467 on Friday, giving back gains from the previous session as Japanese stocks tracked Wall Street's steep losses. The decline came amid growing concerns over the economic fallout from the escalating U.S.-China trade war. The White House confirmed that cumulative tariffs on Chinese imports have surged to 145%, intensifying fears of a prolonged trade conflict. Despite President Trump's 90-day tariff reprieve aimed at opening space for negotiations, uncertainty remains high over the outcome of...