The Hang Seng rose 63 points or 0.25% to close at 24,970 on Tuesday, swinging from early losses and marking the second straight gain. Sentiment finally improved after Washington and Beijing extended their tariff truce by another 90 days, averting triple-digit duties on Chinese exports to the U.S. Meanwhile, mainland markets have trended higher in recent weeks as investors look ahead to October's key annual conclave, expected to focus on the next five-year economic plan. On the economic front, China's vehicle sales grew 14.7% yoy in July, accelerating from June's 13.8%, according to the...
European stocks closed higher on Thursday (July 24th) as markets assessed the outlook for trade and monetary policy in the European Union. The STOXX 50 rose 0.3% to 5,359, and the STOXX 600 gained 0.3% to 552. The ECB maintained its benchmark interest rate and noted that disinflation had developed in line with previous estimates. The central bank also noted that further insights into economic developments would be needed before further clarity could be provided on the policy outlook, including a potential trade deal with the US and how the strong euro would move in the coming months....
US stocks were mixed on Thursday as markets assessed developments to domestic trade policy against major tech earnings. The S&P 500 and the Nasdaq 100 edged slightly higher, just enough to retest record highs, while the Dow fell over 300 points. Alphabet jumped 4% after the tech giant posted better than expected earnings for the June quarter and said it would increase AI-spending by $10 billion this year. On the other hand, Tesla slumped 7% after missing earnings and revenues estimates, while CEO Musk warned of "rough quarters" ahead due to lower sales in Europe, tariffs, and the end...
The Hang Seng rose 129 points or 0.5% to close at 25,667 on Thursday, extending strength for the fifth session while holding at its highest level since early November 2021. Gains were almost broad-based, led by financial and property stocks, as global equities continued their upward momentum. Optimism mounted that the U.S. may pursue additional trade deals after securing several pacts earlier this week, including with Japan. In China, stocks rose ahead of next week's third round of trade talks with the U.S. in Stockholm, aimed at extending a tariff truce. However, bullish momentum was...
Hong Kong stocks maintained their momentum on Thursday, lifted by optimism over US-EU tariff negotiations and a revival in global trade diplomacy. The Hang Seng Index rose 129.11 points, or 0.5%, to close at 25,667.18, while the Hang Seng China Enterprises Index (HSCEI) added 16.42 points, or 0.2%, to 9,257.62. Investor sentiment improved after reports that the US and European Union are moving closer to a trade agreement that would impose a broad 15% tariff on EU imports, replacing the steeper 30% duty set to take effect on August 1. The deal, which may include automobiles, would mirror a...
Japan's Topix hits record high as Asia-Pacific stocks climb on trade deal optimism Japan's Topix closes at a record high as region ends trading day largely in the green Asia markets ended the day largely in the green. Japan's Topix jumped 1.75% to close at a record high of 2,977.55. The country's benchmark Nikkei 225 added 1.59% to end the trading day at 41,826.34. South Korea's Kospi rose 0.21% to 3,190.45, though the small-cap Kosdaq slipped 0.45% to close at 809.89. Australia's S&P/ASX 200 slipped 0.32% to close at 8,709.4. Mainland China's CSI 300 rose 0.71% to 4,149.04. Source:...