The Hang Seng Index fell 347 points, or 1.4%, to close at 25,177 on Wednesday (July 30th), extending losses from the previous session amid widespread declines. Technology stocks slumped 2.7%, while consumer discretionary and financial stocks each fell about 1.5%, after US-China trade talks ended without substantial progress, leaving President Trump with the final decision on tariffs. Caution is also growing ahead of today's Fed interest rate decision, with analysts saying most officials prefer to assess the inflationary impact of tariffs, especially with Trump's August 1st deadline...
Japanese stocks fell after the close on Wednesday, as losses in the Electric Power, Transportation Equipment and Warehousing sectors led shares lower. At the close in Tokyo, the Nikkei 225 was down 0.27%. The best performer on the Nikkei 225 was Rakuten Inc (TYO:4755), which rose 5.73% or 49.90 points to trade at 920.10 at the close. Meanwhile, Mitsui Mining and Smelting Co. (TYO:5706) rose 4.29% or 199.00 points to close at 4,835.00 and Furukawa Electric Co., Ltd. (TYO:5801) gained 3.90% or 274.00 points to 7,302.00 in late trade. The worst performer on the session was Tokio Marine...
Japan's 10-year government bond yield surged above 1.17% on Wednesday, reaching its highest level since May 2011, mirroring the rise in US Treasury yields as strong US economic data reduced expectations for further Federal Reserve interest rate cuts. Domestically, investors are preparing for the Bank of Japan's branch managers' meeting this week and Deputy Governor Himino's speech next week, both of which are expected to provide further guidance on the rates outlook. BOJ Governor Kazuo Ueda recently reiterated that any policy adjustments will depend on economic, price, and financial...
The Nikkei 225 Index dropped 0.8% to fall below 39,800, while the broader Topix Index lost 0.7%, settling at 2,767 on Wednesday, reversing gains from the previous session as US Treasury yields surged. Japanese shares also mirrored a tech-driven selloff on Wall Street overnight, fueled by concerns over persistent inflation and reduced expectations of further interest rate cuts by the Federal Reserve. Investors in Japan are also looking ahead to local wage data this week, which could offer further insights into the Bank of Japan's monetary policy outlook. Notable losses were seen in index...
U.S. stocks closed down on Tuesday after a batch of upbeat economic data raised concerns that an inflation rebound could slow down the Federal Reserve's pace of monetary policy easing. Stocks gave up early gains after a Labor Department report showed job openings unexpectedly increased in November, while a separate report said services sector activity accelerated in December with a measure tracking input prices surging to a near two-year high. Benchmark 10-year Treasury yields hit an eight-month high at 4.677% after the data pointed to a strong economy. Signs of continued resilience in...
European markets closed higher on Tuesday as investors in the region digested inflation data and corporate earnings releases. The pan-European Stoxx 600 index provisionally ended the session up 0.34%, with mining, utilities and construction stocks among the few sectors in negative territory. Major bourses were in mixed territory, with the FTSE 100 down by around 0.09%. Annual inflation in the euro zone rose to 2.4% in December, a flash estimate from Eurostat showed on Tuesday, up from 2.2% in November. The print — which was in line with expectations, according to a Reuters poll of...