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...
The Nikkei 225 Index rose 0.3% to around 3,990, while the broader Topix Index edged up 0.1% to 2,712 on Monday, recovering some losses from the previous session and mirroring Wall Street's gains from Friday. Investors remained cautious as they navigated US President Donald Trump's evolving trade policies and mounting concerns over the US economy. However, a strengthening yen, which surged to a five-month high on safe-haven demand, may limit further upside for Japanese equities. On the data front, Japan posted a current account deficit in January for the first time in two years, as imports...
Asia-Pacific markets were mixed on Monday after a volatile trading week around the world. U.S. stocks — which are expected to open lower on Monday — have been on a roller-coaster ride since the start of the month given uncertainty surrounding U.S. President Donald Trump's tariff policies — and their impact on the superpower's growth and inflation. Australia's S&P/ASX 200 surged 0.34%, after closing at a six-month high in its previous session. Japan's benchmark Nikkei 225 started the day flat while the broader Topix index edged down 0.1%. The country's cash earnings rose 2.8%...
The S&P 500 regained some ground on Friday, but the index still posted its worst week in several months as the salvo of trade policy actions unnerved investors. The broad index rose 0.55% to 5,770.20, while the Nasdaq Composite gained 0.7% to 18,196.22. The Dow Jones Industrial Average added 222.64 points, or 0.52%, to end at 42,801.72. Friday saw volatile trading, with the Dow falling more than 400 points at session lows before an afternoon rally. The S&P 500 and Nasdaq both fell more than 1% at their worst points in the trading day. Despite Friday's recovery, the S&P 500...
The yield on the 10-year US Treasury note edged up to 4.28% on Friday after Fed Chair Jerome Powell reassured markets that the economy remains solid while emphasizing no urgency to cut rates. However, the yield remained near the four-month low of 4.16% touched on Monday, as uncertainty over US trade policy fueled concerns about economic growth and extended Wall Street's shift toward safer assets. President Trump granted a one-month exemption for Mexican and Canadian goods under the USMCA from new tariffs but vowed to end further relief. Meanwhile, pledges of aggressive spending cuts and...
The S&P 500 rose on Friday, regaining some ground as the benchmark headed for its worst week since September as a series of trade policy moves unsettled investors. The broad index rose 0.4%, while the Nasdaq Composite gained 0.6%. The Dow Jones Industrial Average traded nearly flat. A weaker-than-expected jobs report released Friday raised further concerns about a weakening economy and lower interest rates. Nonfarm payrolls increased by 151,000 jobs in February, short of the consensus estimate for 170,000 from economists surveyed by Dow Jones. The unemployment rate edged up to...