The Hang Seng rose 169 points or 0.7% to close at 24,902 on Tuesday, reversing early losses and marking its second consecutive session of gains. Sentiment improved after a private survey showed China's services activity grew at the fastest pace in 14 months in July, supported by rises in new orders, foreign sales, and employment. A rally on Wall Street also lifted mood, as weaker U.S. jobs data fueled bets on a Fed rate cut in September. Gains were broad-based, led by financials, tech, and consumers, as investors looked past weather-related disruptions in Hong Kong, including heavy rain...
The Hang Seng slipped 284 points or 1.2% to finish at 23,290 on Friday, pulling back from a strong session the day before. The tumble followed a U.S. federal court's decision to temporarily reinstate tariffs imposed by President Trump, reversing an earlier trade court ruling that had blocked them. At the same time, China's official May PMI, due over the weekend, kept markets cautious amid concerns over fragile factory activity. Meantime, U.S. Treasury Secretary Bessent said that trade talks with China were "a bit stalled" and may require a direct push from Trump and Xi. Most sectors fell,...
European shares dipped on Friday as caution prevailed after a U.S. court reinstated President Donald Trump's tariffs, even as the benchmark index neared a robust monthly gain. The continent-wide STOXX 600 index was down 0.1%, as of 0711 GMT, pressured by a temporary reinstatement of the most sweeping of Trump's tariffs a day after another court ordered an immediate block on them. However, the benchmark index was set for its first monthly advance in three, up 3.8% so far, capitalising on easing trade tensions and the recent U.S. fiscal concerns that forced investors to move away from...
Japan stocks were lower after the close on Friday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 lost 1.25%. The best performers of the session on the Nikkei 225 were Otsuka Holdings Ltd (TYO:4578), which rose 6.82% or 469.00 points to trade at 7,350.00 at the close. Meanwhile, Kyowa Kirin Co Ltd (TYO:4151) added 4.16% or 94.00 points to end at 2,353.50 and Tokai Carbon Co., Ltd. (TYO:5301) was up 3.70% or 37.00 points to 1,037.00 in late trade. The worst performers of the session were Tokyo Electron Ltd....
The Hang Seng Index started the day with a dip of 233 points or 0.99%, closing at 23,339 points. The state-owned enterprise index fell by 97 points or 1.13% to 8,462 points, while the technology index dropped by 66 points or 1.26% to 5,234 points. In the tech sector, Tencent experienced a 0.8% decline, Alibaba dropped by 2.5%, Meituan by 1.9%, Xiaomi Group by 1.3%, JD.com by 2.1%, and Kuaishou by 0.3%. Individual developments were noted in the financial sector, with HSBC Holdings falling by 0.5%, Prudential Insurance rising by 0.3%, China Ping An dropping by 1.1%, and Hong Kong Exchanges...
Markets and data show the U.S. economy is slowing. Stocks in Japan, Australia and South Korea fell at the open on Friday. Equity futures for the S&P 500 Index pared most of their early gains after an appeals court allowed tariffs to remain in place for now. The dollar was steady in early trading after a gauge of currency strength fell 0.4%. The yen gained against the dollar after inflation in Tokyo rose by the most in two years. A federal appeals court offered Trump a temporary reprieve from a ruling that threatened to throw out much of his tariff agenda. Adding to concerns, the U.S....