Hong Kong stocks rose 98 points, or 0.4%, to 24,607 in early trading on Monday, ending a four-day losing streak amid gains led by the property and technology sectors. Sentiment improved after China's top leaders pledged to support the economy and tackle "irregular competition" at last week's Politburo meeting. Beijing also confirmed plans to hold its fourth plenary session in October, which will likely focus on the next five-year plan. A modest rebound in US stock futures added support, following Wall Street's sharp decline on Friday due to weak employment data. On tariffs, US Treasury...
The Nikkei 225 Index tumbled 2.5% to below 36,200, while the broader Topix Index dropped 2.9% to 2,620 on Tuesday, reaching their lowest levels in at least five months. The decline followed a sharp selloff on Wall Street overnight, fueled by growing US recession fears. Over the weekend, US President Donald Trump described the economy as being in "a period of transition" when asked about a possible recession, with his tariff policies and government shake-ups adding to market concerns. In Japan, sentiment was further dampened by weaker economic data. Fourth-quarter GDP growth was revised...
Asia-Pacific markets are poised to slide on Tuesday, tracking losses in the U.S. following anxiety over tariff policy and a potential recession in the world's largest economy. Japanese markets led losses in the region, with the benchmark Nikkei 225 falling over 2% shortly after the open, while the broader Topix index fell 1.57%. The country's revised GDP for the fourth quarter came in at 2.2% on an annualized basis, below economists' expectations and the previous estimate of 2.8% growth. South Korea's Kospi started the day 1.78% lower, while the small-cap Kosdaq plunged...
Dow tumbles nearly 900 points, Nasdaq suffers worst day since 2022 as recession fears eruptA three-week market sell-off intensified on Monday, with investors worried that tariff policy uncertainty would tip the economy into a recession, something President Donald Trump did not rule out over the weekend in an interview. The S&P 500 shed 2.7%, touching its lowest level since September at one point and closing at 5,614.56. The tech-heavy Nasdaq Composite saw the sharpest decline of the major averages, falling 4% for its worst session since September 2022 and closing at 17,468.33. The Dow...
Stocks plunged on Monday as the selloff that dragged down Wall Street last week continued, with investors worried about an economic slowdown after President Donald Trump did not rule out a recession with U.S. tariffs. The Dow Jones Industrial Average fell 423 points, or 1%. The S&P 500 fell 2.1%, and the Nasdaq Composite dropped 3.4%. The tech-heavy Nasdaq was weighed down by declines in the "Magnificent Seven." Tesla fell 8%, Alphabet fell 4%, and MetaTrader 4 and AI darling Nvidia fell 5%. Stocks have been under pressure as investors worry about a possible recession because of the...
The Hang Seng plunged 448 points, or 1.9%, to close at 23,784 on Monday, falling for a second session as U.S. futures fell amid concerns over an economic slowdown. Worries have been heightened by fresh levies on major trading partners, rising U.S. unemployment and federal layoffs. Sentiment has been further dampened by deflationary pressures in China, with consumer prices posting their sharpest decline in 13 months in February and producer prices extending their decline to 29 months. On the trade front, tensions have been rising as China plans retaliatory tariffs on Canadian farm...