US stocks were flat to higher on Friday, following record-high closes for both the S&P 500 and the Nasdaq the previous day. The three major averages are on track to end the week over 1% higher. Market sentiment remained cautiously optimistic amid hopes that new trade agreements—particularly with the EU—could be finalized before the August 1st deadline, potentially easing tariff rates. Adding to investor relief, President Trump appeared to soften his tone toward Federal Reserve Chair Jerome Powell, helping to ease concerns about the Fed's independence. Health and materials were the top...
Shares in Hong Kong rose by 62 points or 0.3% to 19,783 during the Monday morning session, breaking a two-session losing streak amid strength mainly from the financials and property sectors. A solid rise in US futures uplifted sentiment after Washington avoided a year-end shutdown on Saturday and kicked off future spending decisions into Donald Trump's presidency. Locally, the city's annual inflation remained at 1.4% in November, unchanged for the second consecutive month and at its lowest level since May. The government indicated that overall inflation is expected to remain mild in the...
The Nikkei 225 rose 281 points, or 0.7%, to 38,976 in early trade on Monday, bouncing back from the previous session's losses amid a significant rise in U.S. futures as weaker U.S. inflation data revived hopes for potential policy easing next year. The broader Topix index rose 15 points, or about 0.6%, reversing losses in the previous session, buoyed by relief that Washington managed to avoid a government shutdown. At home, the Bank of Japan last week kept its key short-term interest rate at around 0.25%, in line with market expectations, as the central bank needed more time to assess...
Asian stocks rose after the Federal Reserve's preferred inflation gauge came in below expectations, rekindling bets of a rate cut. The dollar was steady. The MSCI Asia Pacific Index snapped a six-day slide, with indexes in Australia, Japan and South Korea up about 0.5%. Futures in Hong Kong pointed to gains. U.S. equity contracts rose after the S&P 500 Index rose 1.1% on Friday, as personal consumption spending rose at its slowest pace since May. Monday's gains will provide some relief to global markets after stocks suffered their worst weekly decline in more than three months as a...
The Hang Seng Index fell for a second day, down 0.2%, or 31.81, to 19,720.70 in Hong Kong. Alibaba Group Holding Ltd. contributed the most to the index's decline, dropping 3.4%. Kuaishou Technology was the biggest decliner, down 5.4%. For the day, 48 of 83 stocks fell, while 29 rose; three of four sectors fell, led by financials. Source: Bloomberg
European markets opened lower on Friday as investors monitored political turmoil in the US and monetary policy decisions from major economies. The United States was plunged into fresh political uncertainty late Thursday, after the failure of a Trump-backed spending bill that would have averted a government shutdown. Dozens of Republican lawmakers voted against a deal to fund the government for three months and suspend the US debt ceiling for two years, meaning a partial government shutdown will begin on Friday night. Elsewhere, China kept its key interest rate steady on Friday, in line...