Hong Kong stocks fell 50 points, or 0.2%, to 24,851 in Wednesday morning trading, ending a two-day winning streak amid weakness in the technology, consumer discretionary, and financial sectors. Sentiment worsened after Wall Street closed lower overnight, as weak US data underscored the economic impact of tariffs on activity and earnings. Risk appetite was further dented by reports that two Chinese nationals were arrested in California for allegedly smuggling AI chips, including the Nvidia H100, to China. Caution also grew ahead of China's July trade data and inflation report, with lingering...
Asia-Pacific markets rose on Tuesday as Wall Street rallied overnight on hopes that U.S. President Donald Trump's tariffs could be softer than expected. Australia's S&P/ASX 200 rose 0.69% in early trade. The country's budget will be tabled by Treasurer Jim Chalmers later in the day. Japan's benchmark Nikkei 225 started the day up 1.15%, while the broader Topix index gained 0.91%. In South Korea, the Kospi index opened 0.61% higher and the small-cap Kosdaq gained 0.64%. Futures for Hong Kong's Hang Seng index last traded at 23,609, indicating a weaker open compared with the HSI's...
President Donald Trump on Monday said he will soon announce tariffs targeting automobiles, pharmaceuticals and other industries, signaling his plans to pile more sweeping duties on top of his forthcoming "reciprocal tariffs." "We'll be announcing cars very shortly," Trump said at a Cabinet meeting. "We already announced steel, as you know, and aluminum." "We'll be announcing pharmaceuticals at some point," he said, "because we have to have pharmaceuticals." "So we'll be announcing some of these things in the very near future, not the long future, the very near future," Trump said. Trump...
European markets closed slightly lower on Monday as optimism over the path of U.S. tariffs faded. Concluding a choppy session, the pan-European Stoxx 600 ended 0.13% lower, with Germany's DAX down 0.17%, France's CAC 40 down 0.26%, and the U.K.'s FTSE 100 down 0.1%. The travel and leisure sector was up 0.55% after London's Heathrow Airport reopened on Saturday following a power outage caused by a fire at a nearby electrical substation that disrupted Friday service. British Airways owner IAG was up 0.8%. Swedish defense firm Saab gained 4.5% after UBS upgraded its stock from neutral to...
European markets were mixed on Monday after U.S. President Donald Trump hinted at tariff "flexibility." The pan-European Stoxx 600 was little-changed by 4 p.m. in London, with Germany's DAX down 0.06%, France's CAC 40 down 0.23%, and the U.K.'s FTSE 100 trading flat. The travel and leisure sector was up 0.59% after London's Heathrow Airport reopened on Saturday following a power outage caused by a fire at a nearby electrical substation that disrupted Friday service. British Airways owner IAG was up 0.9%. Swedish defense firm Saab was up 4.5% after UBS upgraded its stock from neutral to...
Stocks in the US kicked off the week in the green, with the S&P 500 adding 1%, the Nasdaq soaring 1.5% and the Dow Jones gaining 350 points, as traders hope the new US tariffs set to take effect on April 2nd could be softer and more targeted than initially anticipated. Reports emerged that President Donald Trump's coming wave of tariffs is poised to be more targeted than the barrage he has occasionally threatened. All sectors were in the green, but consumer discretionary, tech and communication services outperformed. Shares of Tesla soared more than 5% and other megacaps were also...