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 Hang Seng plunged 138 points, or 0.6%, to close at 24,231 on Friday (07/03), snapping a three-day rally. The decline followed trade data from China showing an unexpected drop in imports in January-February, while exports lost momentum amid rising U.S. tariff pressures. The index retreated from a three-year high as investors turned cautious ahead of China's February CPI and PPI data, due over the weekend. Losses were broad-based, with property, financial and technology stocks leading the decline. JD Logistics plunged 14.0% after reporting weaker Q4 net profit growth, while Semicon...
European markets moved lower on Friday, ending a tumultuous week marked by erratic U.S. tariff policy, the European Central Bank's latest interest rate cut, German fiscal reform and increased regional defense spending. The U.K.'s FTSE 100 is set to open down 48.9 points at 8,643, France's CAC 40 is down 80 points at 8,146 and Germany's DAX is down 308 points at 23,136, according to IG data. The regional Stoxx 600 index has swung between losses and gains this week amid geopolitical developments and corporate earnings. The benchmark is now headed for a weekly loss, which would be its first...
The Nikkei 225 Index fell 2.17% to close at 36,887 on Friday, nearing its lowest levels since September and tracking losses on Wall Street, where technology stocks were hit by heavy selling pressure. President Trump's shifting tariff policies and the escalating global trade war fueled fears about the economy, increasing market uncertainty. Additionally, local equities faced pressure from a stronger yen and rising Japanese Government Bond (JGB) yields, as expectations grow that the Bank of Japan will continue raising interest rates this year. Economy Minister Ryosei Azakawa announced that...
The Nikkei 225 Index dropped 2.2% to below 36,900 on Friday, sliding toward its lowest levels since September and tracking losses on Wall Street overnight, where technology stocks came under heavy selling pressure. Trump's shifting tariff policies and escalating global trade tensions also fueled concerns about economic growth, adding to the bearish sentiment. Additionally, local equities faced pressure from a stronger yen and rising JGB yields. These moves come as the Bank of Japan is widely expected to continue raising interest rates this year. BOJ Deputy Governor Shinichi Uchida...
Asia-Pacific markets are set to mostly fall on Friday, mirroring losses on Wall Street after U.S. President Donald Trump's tariff concessions failed to calm investors. Traders were also worried by economic data from the U.S., which raised alarm that Trump's policies could hinder the U.S. economy. The Federal Reserve's Beige Book and the Institute for Supply Management's manufacturing reading both indicated fear of rising input costs because of the tariffs. Data from Challenger, Gray & Christmas released Thursday showed layoff announcements soared to 2020 highs, which the outplacement...