The Hang Seng climbed 226 points or 0.9% to end at 24,733 on Monday, snapping a four-session dip as all sectors gained. Traders looked ahead to developments on the U.S.-China trade truce, set to expire on August 12. Meanwhile, U.S. Treasury Secretary Bessent said Washington is optimistic about reaching a deal with China, following recent trade talks in Stockholm. Separately, China's top leaders pledged to support the economy and rein in "disorderly competition" during last week's Politburo meeting. Beijing also confirmed its fourth plenum will be held in October, likely focusing on the next...
Stocks fell on Thursday, with equities unable to shake a three-week market rout under the weight of new tariff threats from President Donald Trump. The S&P 500 dropped about 1.3%, bringing its losses from its record close in February to 10%. If the benchmark closes at these levels, it will be an official market correction, according to Wall Street. The Dow Jones Industrial Average fell 481 points, or 1.2%, its fourth day of declines putting it below the 41,000 level. The Nasdaq Composite shed 1.8% with shares like Tesla and Apple lower.Trump took to his Truth Social platform Thursday...
Stocks fell on Thursday as investors digested President Donald Trump's latest tariff threats while they pored over new U.S. inflation figures. The Dow Jones Industrial Average fell 254 points, or 0.6%. The S&P 500 fell 0.7%, and the Nasdaq Composite dropped 1.2%. Trump used his Truth Social platform to threaten a 200% tariff on all alcohol products coming from countries in the European Union in retaliation for the bloc's 50% tariff on whiskey. "This would be great for the Wine and Champagne business in the U.S.," he wrote. Concerns over U.S. trade policy have hurt stocks this...
Hong Kong stocks plunged for a fifth straight day on Thursday (March 13), as investor sentiment remained gloomy amid fears of a looming global trade war. The Hang Seng Index fell 0.58%, or 137.66 points, to 23,462.65. The Hang Seng China Enterprises Index also fell 0.48%, or 41.52 points, to 8,640.61. Trade tensions remained high after the Trump-led US administration said it would respond to the EU's retaliatory measures against the US's 25% steel and aluminium tariffs, SCMP reported on Thursday. The US economic policy, which has introduced a number of new tariffs since Donald Trump took...
The Hang Seng slumped 138 points, or 0.6%, to close at 23,463 on Thursday (3/13), extending losses for a second session amid a broad-based rout. The tech index fell 1.7%, dragged down by Semicon Manufacturing (-4.9%), Meituan (-2.2%), and Alibaba Hlds. (-2.5%). Sentiment weakened as the Trump administration raised trade barriers, prompting retaliation from the EU and Canada. China also vowed to take all necessary steps to protect its interests. Consumer and property stocks fell sharply, as doubts grew over China's ability to meet its 5% GDP growth target for 2025, unchanged from 2024,...
European markets are expected to open in mixed territory on Thursday, falling lower as President Donald Trump's tariffs disrupt global trade relations. The U.K.'s FTSE 100 is expected to open 8 points higher at 8,537, Germany's DAX is down 47 points at 22,611, France's CAC is down 2 points at 7,983 and Italy's FTSE MIB is down 32 points at 38,230, according to data from IG. Investors in Europe will be watching earnings from Hugo Boss, Hannover Re and Deliveroo, with no major data releases due later in the day. Thursday marks the second and final day of CNBC's CONVERGE LIVE event in...