The Hang Seng Index opened higher today, gaining 70 points or 0.27%, to reach 25,458. Meanwhile, the China Enterprises Index rose by 22 points or 0.24%, closing at 9,173, and the Hang Seng Tech Index increased by 21 points or 0.37%, settling at 5,699. Technology stocks displayed mixed movements. Tencent remained unchanged, Alibaba rose by 1.2%, Meituan edged up 0.4%, Xiaomi Group dipped slightly by 0.1%, and Kuaishou gained 0.6%. Financial stocks showed general stability. HSBC Holdings recorded no change, AIA Group rose by 0.5%, Ping An Insurance increased by 0.4%, and the Hong Kong...
Hong Kong stocks fell on Friday, snapping a three-day gain, after talks between US President Donald Trump and his Chinese counterpart Xi Jinping failed to produce a breakthrough on ending the tariff dispute. The Hang Seng Index eased 0.4 per cent to 23,823.89 at 10.10am local time, trimming the week's advance to 2.3 per cent. The Hang Seng Tech Index dropped 0.6 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index both retreated 0.1 per cent. Chinese electric-vehicle maker Li Auto lost 2.4 per cent to HK$114 and China Mobile retreated 2.2 per cent to HK$87.25....
The Nikkei 225 Index rose 0.4% to above 37,600 while the broader Topix Index gained 0.4% to 2,767 on Friday, reversing losses from the previous session as the recent phone call between US President Donald Trump and Chinese President Xi Jinping lifted market sentiment. The two leaders agreed to resume trade negotiations aimed at ending the ongoing trade war. In Japan, data showed that household spending unexpectedly declined in April, reflecting the impact of rising prices on consumer demand. The softer spending figures add to the growing list of considerations for the Bank of Japan as it...
Wall Street closed lower on Thursday as investors grappled with a public feud between President Trump and Elon Musk, fresh U.S.-China trade uncertainty and growing signs of a weakening labor market. The S&P 500 fell 0.5%, the Dow dropped 107 points and the tech-heavy Nasdaq dropped 0.8%, dragged down by Tesla's sharp losses. Tesla shares plunged 14.3% after Trump criticized Musk for his opposition to a sweeping tax and spending bill, suggesting he might strip Musk's companies of government contracts and subsidies. Earlier optimism from a phone call between Trump and Chinese President Xi...
European stocks rose on Thursday after the ECB cut interest rates for the eighth time in a year. The ECB lowered borrowing costs by 25 basis points and revised down its inflation forecasts for 2025 and 2026. While the rate cut was largely priced in, the sharper-than-expected downward revision to the 2026 inflation outlook caught some market participants by surprise. ECB President Lagarde acknowledged that the inflation outlook remains more uncertain than usual. Also supporting sentiment was news of a phone call between U.S. President Trump and Chinese President Xi, which indicated progress...
The three major US stock averages hovered around the flatline on Thursday, as investors weighed mixed economic data and reports of a phone call between US President Trump and Chinese President Xi, though no details of the conversation were disclosed. On the data front, initial jobless claims unexpectedly rose to 247K, the highest level since October last year, signaling potential softening in the labor market. Additionally, labor costs rose more than initially estimated, adding to inflationary concerns. Traders are now looking ahead to Friday's key jobs report for further insight into the...