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 Hang Seng jumped 497 points, or 2.1%, to close at 23,960 on Friday, ending a five-session losing streak as U.S. index futures rose on signs of potential U.S. government shutdown resistance. Hopes for fresh stimulus to boost China's domestic consumption also supported sentiment, with investors eyeing a key briefing next week by Beijing's top planning agency. Adding to optimism, the northern Chinese city of Hohhot announced large cash incentives to boost births. However, the index fell 1.1% for the week, reversing earlier gains as caution prevailed ahead of key Chinese economic data due...
European markets are set to open higher on Friday, as U.S. President Donald Trump's tariff regime continues to be in focus. Talks centered on a ceasefire deal for Ukraine also remain in focus for regional traders. London's FTSE 100 is expected to open about 28 points higher at 8,567, according to IG, while Germany's DAX is set to rise 107 points to 22,639. France's CAC 40 is expected to open 26 points higher at 7,970, according to IG. Earlier this week, the EU announced it would retaliate against Trump's 25% tariffs on steel and aluminum with retaliatory measures on 26 billion euros ($28...
Japanese shares rose on Friday as the Bank of Japan is expected to hold rates in March, with most economists seeing a 25-basis-point hike to 0.75% in July. The Nikkei 225 rose 0.84%, or 310.82 points, to end at 37,100.85. A Reuters poll showed about 70% of economists expect the Bank of Japan to raise rates to 0.75% in the third quarter, likely in July, up from 65% in February. Nearly 90% foresee negative effects on Japan's economy from US President Donald Trump's tariff policies. Markets are pricing in a quarter-point hike by September or October, with a 25% chance of another increase by...
Hong Kong stocks rose on Friday, halting a five-day slump, as investors resumed buying tech companies on optimism advances in artificial intelligence (AI) will sustain a bull run this year. Port operator CK Hutchison plunged on concerns about its politically-charged asset sale. The Hang Seng Index increased 0.9 per cent to 23,677.68 as of 10am local time, following a 3.7 per cent loss over the preceding five trading days stoked by worries about trade wars. The Hang Seng Tech Index climbed 0.8 per cent while the Shanghai Composite Index gained 0.8 per cent. Alibaba Group Holding rose 2.9...
The Nikkei 225 Index climbed 0.4% to surpass 36,900, while the broader Topix Index edged up 0.15% to 2,702 on Friday, as investors snapped up beaten-down technology stocks. Despite the rebound, market sentiment remained fragile amid escalating global trade tensions. In the latest trade dispute, US President Donald Trump threatened to impose a 200% tariff on all alcoholic products from the European Union, retaliating against the bloc's 50% tariff on American whiskey. Meanwhile, investors continued to monitor Bank of Japan policy signals, as Governor Kazuo Ueda reaffirmed plans to reduce the...