European stocks had a mixed session on Monday as traders monitored corporate updates and a meeting between regional leaders and U.S. President Donald Trump to discuss Ukraine. The pan-European Stoxx 600 index provisionally closed fractionally above the flatline. Health-care stocks led gains, up 1.4%, as Novo Nordisk shares climbed 6.6%.The Danish pharmaceutical giant's blockbuster weight-loss drug Wegovy won regulatory approval in the United States to treat a serious liver disease. European leaders, including German Chancellor Friedrich Merz, French President Emmanuel Macron and British...
US stocks opened sharply lower in August, with all three major indexes falling more than 1%, as a weaker-than-expected jobs report fueled renewed concerns about the strength of the US labor market and the overall economy. Non-farm payrolls rose by just 73,000 in July, and employment figures for May and June were revised down by 258,000, adding to evidence that the labor market is slowing more rapidly than anticipated. The weaker data fueled expectations that the Fed would cut interest rates twice this year, with another cut likely in September. Market pressure intensified when President...
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...
The STOXX 50 dropped 1.1% and the STOXX 600 declined 0.8% on the first trading day of August, which coincided with the deadline for countries to reach a trade deal with the US. In response, President Trump announced a series of sweeping tariffs. While the baseline rate remained unchanged at 10%—matching duties imposed in April—tariffs on certain countries were significantly increased, including India (25%), Canada (35%), and Switzerland (39%). Overall, the average US tariff rate will rise to 15%, up from around 2% in 2024. Pharmaceutical stocks also came under pressure after President Trump...
The Nikkei 225 dropped 0.66% to close at 40,800 on Friday, bringing its weekly loss to 1.58%, as tech stocks came under heavy pressure. Tokyo Electron sank 18% after slashing its full-year profit outlook due to weak demand from logic chipmakers. Losses spread across the sector, with Lasertec (-5.8%), Hitachi (-8.8%), Socionext (-4.1%), Disco (-3.6%), and Advantest (-1.3%) all declining. Sentiment was further dented by renewed trade tensions after US President Donald Trump reaffirmed a 10% global tariff and imposed reciprocal duties of up to 41% on countries without trade deals, heightening...
(Hong Kong) The Hang Seng Index started the month of August by opening 28 points lower, marking a decrease of 0.12% at 24,744 points. The H-share index dropped by 12 points or 0.14%, reaching 8,870 points, while the technology index saw a decline of 5 points or 0.09%, standing at 5,447 points. In the tech sector, stock movements varied with Alibaba rising by 1.82%, Kuaishou up by 1.3%, and Tencent seeing a 0.27% increase. Conversely, Meituan fell by 0.41%, Xiaomi Group by 0.66%, and Trip.com Group by 1.42%. Financial stocks exhibited weakness, with HSBC Holdings dropping by 0.68%; AIA...