The Hang Seng closed almost flat at 24,911 on Wednesday after dipping slightly in morning deals. Traders digested comments from President Trump, who said the U.S. was close to a trade deal with China and that he would meet President Xi before year-end if an agreement is reached. Investors also looked ahead to key Chinese economic data, including trade figures on Thursday and inflation on Saturday, amid concerns over rising trade barriers and persistent deflation risks. At the same time, markets braced for a possible new U.S. tariff announcement targeting semiconductors and chips, expected...
The Nikkei 225 Index plunged 3.6% toward 31,800 while the broader Topix Index tumbled 2.9% to 2,362 on Wednesday, giving back gains from the previous session and tracking losses on Wall Street overnight as US President Donald Trump's new tariffs are set to come into effect later today. That would include a 24% tariff on Japanese goods and a 25% levy on car imports to the US. Meanwhile, Trump said that Japan is sending a team to negotiate on trade with the US, while Prime Minister Shigeru Ishiba revealed that he told Trump in a phone call to rethink his tariff policies. Financial and...
Asia-Pacific markets fell on Wednesday as investors brace themselves for U.S. President Donald Trump's country-specific tariffs that are set to come into effect midnight stateside. Australia's S&P/ASX 200 slid 1.06%. Japan's Nikkei 225 lost 3.14%, while the Topix traded 3.26% lower. South Korea's Kospi edged 0.18% lower while the small-cap Kosdaq lost 0.44%. Hong Kong's Hang Seng Index fell 3.86%, while the Hang Seng Tech Index declined 5.42%.Additional tariffs will take effect just after U.S. midnight, adding to the 10% baseline duty that was already implemented on Saturday. Chinese...
The S&P 500 closed below 5,000 for the first time in nearly a year after a strong start to the session on Tuesday, amid growing concerns about a global trade war as the Trump administration prepares to raise tariffs on China at midnight. At 4:00 p.m. ET (21:00 GMT), the Dow Jones Industrial Average was down 320 points, or 0.8%, the S&P 500 was down 2% to close at 4,987.76 and the Nasdaq Composite was down 2.2%. The S&P 500, which rose about 4.1% at its high on the day, closed below 5,000 for the first time since April 19, 2024. Global trade war fears mount as tariffs on China...
European stock markets closed sharply higher in Tuesday trading as the Stoxx Europe 600 advanced 2.72%, Germany's DAX rose 2.48%, the FTSE 100 in London climbed 2.71%, France's CAC 40 increased 2.50%, and the Swiss Market Index surged 2.82%. US President Donald Trump rejected a European Union proposal to eliminate tariffs on bilateral trade in industrial goods, which means a 20% tariff on all EU imports will take effect Wednesday, Bloomberg reported Tuesday. Trump criticized European Commission President Ursula von der Leyen's offer as insufficient to reset the transatlantic trading...
Major U.S. stock indexes rallied more than 3% on Tuesday, snapping a three-day losing streak marked by heightened volatility, as investor sentiment improved on hopes of progress in U.S. tariff negotiations. The S&P 500 surged 3.1%, the Dow Jones soared by 1,300 points (3.5%), and the Nasdaq rose 3.2%. The rebound followed comments from Treasury Secretary Scott Bessent, who disclosed that roughly 70 countries, including Japan, have reached out to the White House to initiate tariff talks. Despite the market optimism, U.S.-China tensions remained elevated. Beijing reiterated its resolve to...