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...
U.S. stocks closed mixed on Tuesday after the Senate passed President Trump's sweeping budget bill, with investors also keeping an eye on trade developments. The S&P 500 fell 0.1%, and the Nasdaq dropped 0.8% after hitting a record high on Monday, as enthusiasm over potential stimulus clashed with concerns about the bill's trillion-dollar cost. The Dow Jones industrials outperformed, rising 400 points, led by sharp gains in health care stocks such as UnitedHealth (+4.5%) and Amgen (+4%). In contrast, technology stocks dragged the Nasdaq, with Tesla down 5.3% after Trump escalated his...
European stocks edged lower on Tuesday on trade uncertainty with doubts on whether the ECB would continue to cut interest rates. The Eurozone's STOXX 50 fell 0.3% to 5,288, and the pan-European STOXX 600 dropped 0.2% to 540. Reports indicated that the EU is open to a deal involving a 10% universal tariff on many of its exports, but is seeking concessions from the US on key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft. The EU's trade chief is expected to lead a delegation to Washington this week in an effort to advance the talks, according to sources...
The US stock market moved without a clear direction on Tuesday. The S&P 500 and Nasdaq fluctuated, while the Dow Jones rose about 200 points, extending the previous day's gains. The S&P 500's quarterly performance recorded its best record since 2023. Investors are still watching developments in trade negotiations and discussions on the budget bill in the US Congress. Federal Reserve Chairman Jerome Powell said that the impact of tariffs on prices would likely only be seen in the next few months. However, he also emphasized that most Fed officials support a rate cut before the end of...
Both the STOXX 50 and the STOXX 600 edged up 0.1% on Tuesday, as investors continued to monitor trade negotiations with the US ahead of the looming July 9th deadline for reciprocal tariffs. Bloomberg reported that the European Union is open to a deal involving a 10% universal tariff on many of its exports, but is seeking concessions from the US on key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft. The EU's trade chief is expected to lead a delegation to Washington this week in an effort to advance the talks, according to sources cited by Bloomberg. On...
Japan's Nikkei share average snapped a five-day winning streak to fall more than 1% on Tuesday, as investors sold stocks amid uncertainty over U.S.-Japan trade talks. The Nikkei fell 1.24% to 39,986.33, slipping from the highest level since mid-July, which it reached in the previous session. The broader Topix slipped 0.73% to 2,832.07. "The market was overheated, but there were some factors that boosted demand last month," said Hiroyuki Ueno, chief strategist at Sumitomo Mitsui Trust Asset Management. Japanese equities mirrored a rally in U.S. stocks in the past several sessions, but...