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 stock markets closed higher in Tuesday trading as the Stoxx Europe 600 was up 0.33%, Germany's DAX climbed 1.03%, the FTSE 100 gained 0.60%, France's CAC 40 advanced 0.72%, and the Swiss Market Index rose 0.37%. In Spain, GDP rose 0.7% in Q2 compared with 0.6% the previous quarter, according to the Spanish Statistical Office. Analysts expected the rate to remain at 0.6%, according to Bloomberg. In corporate news, Novo Nordisk reported Q2 earnings Tuesday of 5.96 Danish krone ($0.92) per diluted share. Analysts polled by FactSet expected 6.04 krone per share. Sales for the quarter...
US stocks maintained modest gains on Tuesday (July 29) as the market digested a series of earnings reports ahead of key economic developments. The S&P 500 rose 0.3% to 6,400 and the Nasdaq 100 gained 0.5% to break through 23,400, both reaching record highs, while the Dow Jones Industrial Average hovered near the flatline. Union Pacific jumped 2% after agreeing to acquire Norfolk Southern in the largest railroad deal in the US. Meanwhile, tech giants mostly gained ahead of earnings results from the world's largest companies by market capitalization this week, including Microsoft,...
The Hang Seng Index weakened 38 points, or 0.15%, to close at 25,524 on Tuesday (July 29th), reversing gains from the previous session as most sectors declined. Traders are increasingly cautious about the potential negative impact of the US-EU trade deal, including its implications for growth and inflation. Meanwhile, President Trump raised global tariffs by 15% to 20% for non-negotiating partners, a level not seen since the Great Depression. Profit-taking also weighed after benchmark indexes in Hong Kong and China recently hit multi-year highs. However, the benchmark indexes pared earlier...
European stocks traded higher on Tuesday, with the STOXX 50 rising 0.5% and the STOXX 600 up 0.3%, rebounding from losses in the previous session as investor focus shifted to corporate earnings. Philips led the gains, jumping around 10% after raising its full-year guidance. Shares of EssilorLuxottica also climbed over 5% after the company reported a rise in first-half operating profit despite facing tariff-related headwinds. Meanwhile, AstraZeneca added 0.6% following its earnings release, and Barclays posted better-than-expected profits and announced a £1 billion share buyback. However,...
Japan stocks were lower after the close on Tuesday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 declined 0.77%. The best performers of the session on the Nikkei 225 were Otsuka Holdings Ltd (TYO:4578), which rose 3.04% or 213.00 points to trade at 7,223.00 at the close. Meanwhile, Recruit Holdings Co Ltd (TYO:6098) added 2.21% or 200.00 points to end at 9,250.00 and Pacific Metals Co., Ltd. (TYO:5541) was up 2.20% or 40.00 points to 1,861.00 in late trade. The worst performers of the session were Lasertec...