The Hang Seng Index plunged 265 points, or 1.1%, to close at 24,508 on Friday (August 1), weakening for a fourth session and hitting a two-week low. Risk sentiment weakened after the US imposed high tariffs on dozens of trading partners, while US futures prices fell sharply after higher June inflation data. The new tariffs are expected to add to price pressures, fueling concerns about further inflation. Traders are also cautious ahead of US employment data due later today. For the week, the index fell 3.5%, its first weekly decline in four weeks, amid concerns about slowing Chinese...
Japanese stocks rose in early trading as a weaker yen boosted earnings growth hopes. Autos and pharma shares led the gains. Subaru Corp. rose 2.8% and Daiichi Sankyo gained 4.9%. USD/JPY was at 154.24, up from 153.64 at the close of the Tokyo Stock Exchange on Wednesday.Meanwhile, SoftBank Group fell 4.6% after posting a third-quarter net loss. Investors are focused on earnings as well as U.S. trade policy. Daiwa House Industry and Sumitomo Forestry are due to release their results later in the day. The Nikkei Stock Average was up 0.5% at 39,172.02.Source: Bloomberg
The S&P 500 plunged and interest rates jumped on Wednesday after consumer prices rose more than expected in January, raising concerns that inflation could return. The broad market index slipped 0.27% to end at 6,051.97, and the Dow Jones Industrial Average dropped 225.09 points, or 0.5%, to 44,368.56. The Nasdaq Composite gained a modest 0.03% to close at 19,649.95. "The higher-than-expected CPI confirms investor concerns about inflation being too high that will keep the Fed on the sidelines," said Sameer Samana, head of global equities and real assets at Wells Fargo Investment...
Stocks in the US were sharply lower on Wednesday, with the three major averages tumbling nearly 1% after the US CPI report showed rising inflationary pressures and stalled progress in curbing inflation. All measures came above forecasts with the headline inflation unexpectedly rising to 3% and the core one increasing to 3.3%. At the monthly level, the CPI also rose 0.5%, the most since August 2023. Figures reinforced the Fed's cautious approach on further rate cuts. Traders are now only pricing in a 25 bps reduction in the fed funds rate for December. All sectors traded in the red, with...
The Hang Seng climbed 563 points or 2.7% to close at 21,858 on Wednesday, rebounding from the prior session's losses and reaching its highest level since early October amid sustained AI-driven enthusiasm. A solid rise in mainland markets also lifted sentiment, with their tech sector outperforming the Nasdaq 100 and entering a bull market over the past month. A slight pullback in US futures tempered further gains, ahead of US key inflation data later today and as Fed Chair Powell will testify before the House Committee on Financial Service. All sectors posted strong gains, as property,...
European markets opened higher Wednesday as global markets await the latest inflation reading out of the U.S. The pan-European Stoxx 600 was up 0.14% in opening trade, with all major bourses and almost all sectors in the green. Food and beverage stocks led gains, up 1.06%, while oil and gas stocks fell 0.62%. Global market focus is on the latest U.S. consumer price index report for January that will be published on Wednesday. Headline inflation is expected to have grown 0.3% from the prior month and 2.9% from 12 months earlier, according to Dow Jones. Some economists on Wall Street have...