Hong Kong stocks rose modestly on Tuesday, as investors positioned ahead of the Politburo meeting in China that could set the economic tone for the rest of the year, while sentiment remained upbeat following the launch of the world's largest hydropower dam project on the eastern rim of the Tibetan Plateau. The Hang Seng Index gained 135.89 points, or 0.5%, to close at 25,130.03, while the Hang Seng China Enterprises Index (HSCEI) added 35.40 points, or 0.4%, to 9,075.60. Focus is now on the upcoming Politburo meeting, convened by Chinese President Xi Jinping later this month, which could...
US stocks plunged sharply on Monday as President Trump renewed trade tensions by announcing a new round of tariffs and extending the deadline to implement them to Aug. 1. The S&P 500 and Nasdaq each fell 0.8%, off record highs set last week, while the Dow dropped 422 points. Trump posted a letter on social media announcing 25% tariffs on imports from Japan and South Korea, with additional levies of up to 40% targeting goods from countries such as Malaysia, Myanmar and South Africa. He also warned of additional 10% tariffs on countries that align with the "anti-American BRICS policies,"...
European stock markets closed mixed in Monday trading as the Stoxx Europe 600 was up 0.44%, Germany's DAX advanced 1.2%, the FTSE 100 was down 0.19%, France's CAC 40 gained 0.35%, and the Swiss Market Index declined 0.15%. The European Union is working on the framework of a trade deal with the US, an EU spokesperson said after EU President Ursula von der Leyen held a call with President Donald Trump on Sunday, Bloomberg reported. UK home prices were flat in June, compared with the previous month, with the average house price at 296,665 pounds ($404,509), 2.5% higher compared with a year...
Wall Street's main indexes opened lower on Monday as tariff tensions kept investors on edge, while Tesla shares slid after CEO Elon Musk announced his plans to launch a political party. The Dow Jones Industrial Average fell 25.2 points, or 0.06%, at the open to 44,803.36. The S&P 500 fell 20.3 points, or 0.32%, at the open to 6,259.04, while the Nasdaq Composite dropped 110.6 points, or 0.54%, to 20,490.55 at the opening bell. Source: Reuters
The Hang Seng fell 28 points or 0.12% to close at 23,888 on Monday, marking its third session of losses, weighed by falls in consumer and financial stocks. Cautious investors digested a fresh warning from U.S. President Trump that BRICS countries could face an additional 10% tariff. Traders also grew cautious ahead of China's June CPI and PPI data, due later this week, after four months of falling consumer prices in May and the steepest producer deflation in nearly two years. Losses were trimmed as China, one of the BRICS members, is unlikely to be hit by new levies due to a trade truce...
European stocks were little changed on Monday, with the STOXX 50 holding near 5,300 and the STOXX 600 flat at 541, as investors assessed new developments in US trade policy. President Trump is expected to send about a dozen formal tariff warning letters later today, although it was unclear whether EU countries would be included, while saying there would be an additional 10% levy on countries that side with the BRICS bloc. Meanwhile, Trade Secretary Howard Lutnick confirmed that a broader package of tariffs, originally set for a July 9 launch, will now be delayed until August 1. Oil-related...