The Hang Seng Index plunged 265 points, or 1.1%, to close at 24,508 on Friday (August 1), weakening for a fourth session and hitting a two-week low. Risk sentiment weakened after the US imposed high tariffs on dozens of trading partners, while US futures prices fell sharply after higher June inflation data. The new tariffs are expected to add to price pressures, fueling concerns about further inflation. Traders are also cautious ahead of US employment data due later today. For the week, the index fell 3.5%, its first weekly decline in four weeks, amid concerns about slowing Chinese...
The European stocks rally took a pause on Wednesday amid mixed earnings and after President Donald Trump's latest tariff threats stoked concern about a widening trade war. The Stoxx 600 Index fluctuated at the open after a gain of around 10% so far this year. Glencore Plc slipped after profit fell, while HSBC Holdings Plc posted better-than-expected earnings. A tech-led advance in Asia stumbled. US equity futures were steady. Trump brandished possible levies of around 25% on automobile, semiconductor and pharmaceutical imports, with an announcement...
The Hang Seng Index fell 0.1% at 22,944.24 in Hong Kong. The move follows the previous session's increase of 1.6%. Meituan contributed the most to the index decline, decreasing 3.0%. Hang Seng Bank Ltd. had the largest drop, falling 3.9%. Today, 38 of 83 shares fell, while 39 rose; 2 of 4 sectors were lower, led by commerce and industry stocks. Source: Bloomberg
European markets saw a mixed open on Wednesday as investors assessed numerous earnings releases and a hotter-than-expected U.K. inflation print. The regional Stoxx 600 index was 0.06% higher in early deals following Tuesday's record close, while sectors and bourses were a mix bag. Dutch healthcare technology group Philips dropped 7% at the open after missing sales growth expectations for the fourth quarter amid a double digit decline in China.Earnings on Wednesday come from BAE Systems,Glencore,Rio Tinto, Koninklijke Philips and Carrefour.Europe's largest lender HSBC earlier on...
Hong Kong equities fell 59 points or 0.3%, to 22,913 in early trade on Wednesday, retreating from the previous session's rally. Sentiment was weighed by a fresh threat from US President Donald Trump to impose 25% tariffs on automobile, semiconductor, and pharmaceutical imports. Additionally, some traders booked profits after the market hit a four-month high in the prior session. Limiting further losses, US futures edged higher following Wall Street's S&P 500 closing at a record high overnight. Meanwhile, China's new home prices fell 5.0% year-on-year in January, the mildest decline in...
The Nikkei 225 Index fell 0.2% to below 39,200 on Wednesday, ending a two-day rally as investors reacted to disappointing economic data. Core machinery orders in Japan, a key indicator of capital spending, unexpectedly dropped in December. Additionally, Japan reported a larger-than-expected trade deficit for January, with import growth outpacing exports. Investors also continued to monitor developments in global trade, as US President Donald Trump plans to impose reciprocal tariffs on countries that tax US imports by April. In corporate news, Honda indicated its willingness to resume merger...