The Hang Seng rose 169 points or 0.7% to close at 24,902 on Tuesday, reversing early losses and marking its second consecutive session of gains. Sentiment improved after a private survey showed China's services activity grew at the fastest pace in 14 months in July, supported by rises in new orders, foreign sales, and employment. A rally on Wall Street also lifted mood, as weaker U.S. jobs data fueled bets on a Fed rate cut in September. Gains were broad-based, led by financials, tech, and consumers, as investors looked past weather-related disruptions in Hong Kong, including heavy rain...
The Nikkei 225 Index declined 0.4% to around 39,300 on Friday, ending a three-day rally as the yen sharply rebounded overnight. The currency's rise followed expectations of a softer US PCE inflation reading and a delay in President Trump's reciprocal tariffs. A stronger yen typically weighs on Japan's export-driven industries and makes Japanese assets pricier for foreign investors. Meanwhile, investors continued to navigate Japan's busy earnings season, which has yielded mixed results so far. Notable losses were seen in index heavyweights such as IHI Corp (-2.2%), Fast Retailing (-1.1%), and...
Asia-Pacific markets rose Friday, tracking Wall Street gains overnight as President Donald Trump signed a reciprocal tariffs plans, but did not enact the levies on them immediately.Australia's S&P/ASX 200 started the day 0.76% higher, after hitting a intra-day record in the previous session.Over in Japan, the benchmark Nikkei 225 started the day down 0.15%, while the broader Topix index was up 0.31%.South Korea's Kospi opened 0.14% higher while the small-cap Kosdaq advanced 0.74%.The country's seasonally adjusted unemployment rate hit 2.9% in January, easing from its three-year high of...
US stocks rose on Thursday as a U.S. tariff update helped ease concerns about inflation and global trade tensions, brushing aside hotter-than-expected inflation data. The S&P 500 rose 1%, the Nasdaq 100 gained 1.3% and the Dow Jones Industrial Average jumped more than 350 points, or 0.7%. President Trump signed a memorandum to review reciprocal tariffs on foreign countries but did not impose any levies. He also hinted at the potential for additional tariffs, including on auto imports. The producer price index (PPI) rose 0.4% in January, beating estimates, but a key component that goes...
European stocks closed sharply higher on Thursday, extending this week's strong momentum on the back of strong earnings reports and hopes that Ukraine may soon be on the way out, as investors weighed how new U.S. tariffs could affect European growth. The eurozone STOXX 50 jumped 1.7% to 5,500, its first closing high in 25 years, and the pan-European STOXX 600 gained 1.1% to 554. U.S. President Trump announced upcoming talks with Russian President Putin to negotiate a resolution to the ongoing conflict starting in 2022. Auto stocks led the gains with Mercedes Benz, Volkswagen, up between 7%...
US stocks edged higher on Thursday, with the three major averages up around 0.1%, as investors weighed President Trump's trade policies, corporate earnings, and key inflation data. While PPI figures exceeded forecasts, components feeding into the PCE index slowed, providing some relief after hotter-than-expected inflation data released yesterday. Meanwhile, Trump is set to announce reciprocal tariffs later today. Consumer discretionary and materials led gains, while energy lagged. On the earnings front, Cisco surged over 4% after reporting better-than-expected earnings and revenue, while...