The Hang Seng Index plunged 404 points, or 1.6%, to close at 24,773 on Thursday (July 31), marking its third consecutive decline and its lowest close in two weeks. Sentiment worsened after China's official PMI showed services activity grew at its slowest pace in eight months and factory output fell the most in six months, amid rising trade barriers and extreme weather. Meanwhile, US President Trump's "reciprocal" tariff suspension is set to expire on Friday, with only eight trade deals reached in the past 120 days. On the monetary front, Fed Chairman Powell dismissed expectations of a...
Europe stocks fall at open; EasyJet shares down 3% after earningsIt's ten minutes after the opening bell, and European markets are trading in negative territory. The pan-European Stoxx 600 index is 0.5% lower, with almost every sector in the red. Looking at regional bourses, the German DAX and French CAC 40 are both down by around 0.5%, while London's FTSE 100 has shed 0.4%. EasyJet reported a loss for the first six months of the year, but said current bookings indicate it will meet expectations for full-year profit. The airline said it made a pre-tax loss of £394 million ($529 million)...
Shares in Hong Kong fell 105 points or 0.4% to 23,717 on Thursday morning session, snapping gains in the prior two sessions following a tumble on Wall Street overnight as concerns mounted that a new budget bill in the U.S. would put more stress on an already large deficit. Markets retreated from their nearly two-month highs, hit the previous day, as broad-based losses across all sectors particularly property, consumer, and tech weighed on sentiment. Limiting further falls were upbeat notes from UBS highlighting a sharp revival in Hong Kong's IPO market in 2025, with year-to-date proceeds...
The Nikkei 225 Index dropped 0.8% to around 37,000 while the broader Topix Index lost 0.5% to 2,720 on Thursday, with Japanese shares hitting a two-week low and tracking a sharp selloff on Wall Street overnight. US stocks sold off on Wednesday as Treasury yields surged on concerns that a new US bill could further inflate the federal deficit. In domestic developments, Japan's core machinery orders a key leading indicator of capital investment unexpectedly surged 13% in March, far outpacing expectations for a 1.6% decline. Despite the upbeat data, sentiment was weighed down by weak economic...
Asia-Pacific markets fell on Thursday, tracking declines on Wall Street as investor sentiment soured on fears that a new U.S. budget bill would put even more stress on the country's ballooning debt. Japan's benchmark Nikkei 225 fell 1.06% at the open, while the Topix lost 0.85%. South Korea's Kospi slipped 0.59% and the small-cap Kosdaq declined 0.69%. Australia's benchmark S&P/ASX 200 fell 0.36%. Hong Kong's Hang Seng index slipped 0.24% in the open while mainland China's CSI 300 fell 0.14%.Investors will be looking out for the unveiling of New Zealand's 2025 budget. Stock futures...
U.S. stocks plunged on Wednesday as a surge in Treasury yields and fresh fiscal concerns weighed on investor sentiment. The S&P 500 and Nasdaq fell 1.6% and 1.3%, respectively, while the Dow Jones Industrial Average dropped 817 points. Long-term bond yields jumped after a weak auction of $16 billion in 20-year Treasury notes, with the 30-year yield jumping to around 5.08%, its highest since 2023 amid growing concerns that a tax and spending bill in Washington could further widen the federal deficit. Retail earnings added to the jitters: Target (-5.2%) missed estimates, cut its outlook...