European stocks declined on Wednesday, with both the STOXX 50 and STOXX 600 slipping nearly 0.2%, reversing modest gains from the previous session, with investors continuing to focus on fresh corporate earnings. Hermès fell more than 2% after its results disappointed investors, while L'Oréal dropped 0.8% following second-quarter sales that missed forecasts. HSBC tumbled 4.4% despite reporting revenue growth and announcing a $3 billion share buyback. Adidas sank nearly 8% after posting weaker-than-expected revenue growth and warning that tariffs would raise prices in the US. In contrast,...
Hong Kong shares plunged 273 points, or 1.2%, to 23,438 in early trading on Thursday, marking a third straight decline and hovering near a two-week low. The selloff followed a sharp drop in U.S. stock futures after Fed Chair Powell sounded a cautious note on inflation, even as the central bank kept interest rates steady for a fourth straight meeting, as widely expected. Geopolitical tensions also weighed on sentiment, with concerns growing over the potential for direct U.S. involvement in the Middle East. In China, the People's Bank of China will hold its monthly lending rate decision,...
Asia-Pacific markets fell on Thursday, as investors weighed the U.S. Federal Reserve's decision to keep interest rates steady, while the ongoing conflict between Israel and Iran continued to weigh on sentiment. Japan's benchmark Nikkei 225 index fell 0.74% while the Topix dropped 0.61%. South Korea's Kospi fell 0.34% and the small-cap Kosdaq was flat. Australia's S&P/ASX 200 was flat. Hong Kong's Hang Seng Index fell 0.48% and mainland China's CSI 300 was flat. Investors also await decisions by the central banks of Taiwan and the Philippines later in the day. U.S. President Donald...
The Nikkei 225 fell 0.7% to around 38,600, while the broader Topix index shed 0.6% to 2,791 on Thursday, ending a three-day winning streak as investors locked in profits and weighed global uncertainties. Overnight, the U.S. Federal Reserve kept interest rates steady, with policymakers taking a cautious stance amid concerns about the inflationary impact of President Donald Trump's tariffs. Geopolitical tensions are also adding to the pressure, as the ongoing Israel-Iran conflict raises concerns about expanding U.S. involvement in the Middle East. At home, investors are turning their...
Stocks in the US seesawed on Wednesday as investors reacted to the Federal Reserve's decision to keep interest rates unchanged and Fed Chair Powell's cautious tone amid rising geopolitical and economic uncertainty. The S&P 500 finished slightly lower, the Dow lost 44 points while, the Nasdaq added 0.1%. Powell emphasized the Fed's wait-and-see stance, citing uncertainty around the inflationary effects of President Trump's tariffs and the risk of stagflation, as officials projected two rate cuts in 2025 but downgraded growth forecasts and raised inflation expectations. Markets were...
Wall Street's main indexes ticked up on Wednesday, as investors awaited the Federal Reserve's monetary policy decision, while the Israel-Iran attacks entered the sixth day. Investors will closely monitor Fed Chair Jerome Powell's comments to gauge how he plans to combat the risk of rising prices, which remains a dominant concern for the central bank. The Fed is expected to leave rates unchanged at its meeting, scheduled later in the day. Ahead of the monetary policy decision, money market moves show traders are pricing in about 46 basis points of rate cuts by the end of 2025, with a 55%...