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...
Asia-Pacific markets opened mixed Monday as investors awaited China's rate decision at a time when the yuan has come under pressure due to Beijing-Washington trade tensions.Japan's benchmark Nikkei 225 fell 0.43% at the start of the day, while the broader Topix index lost 0.35%.In South Korea, the Kospi index increased 0.11% at the open while the small-cap Kosdaq was flat.Investors will be keeping a watch on the People's Bank of China's loan prime rate verdict, expected later in the day.Australian and Hong Kong markets were closed for the Easter holiday.Investors are focused on U.S....
The Nikkei 225 jumped 1.03% to close at 34,730 while the broader Topix index advanced 1.14% to 2,559 on Friday, extending gains from the previous session amid hopes that ongoing trade talks between the U.S. and Japan will lead to tariff concessions. Earlier this week, Japanese Economy Minister Ryosei Akazawa told reporters that Trump has said getting a deal with Japan is a "top priority." On the economic front, recent data showed that Japan's headline inflation eased to a four-month low of 3.6% in March, while core inflation rose as expected to 3.2%. Looking ahead, markets are focused on...
The Nikkei 225 index rose 0.2% to above 34,400 while the broader Topix index edged up 0.1% to 2,533 on Friday, extending gains from the previous session amid hopes that ongoing trade talks between the U.S. and Japan will lead to tariff concessions. Earlier this week, U.S. President Donald Trump highlighted "great progress" in the negotiations during a meeting in Washington with Japanese Economy Minister Ryosei Akazawa. On the economic front, recent data showed that Japan's headline inflation eased to a four-month low of 3.6% in March, while core inflation rose as expected to 3.2%. Looking...
U.S. stocks end a shortened week with mixed performances. For the first time on record, the DJIA drops more than 1% while the S&P 500 rises. The Dow industrials are dragged down by a 22% slide on UnitedHealth Group, after the insurer slashes its outlook. Alcoa falls 7% as it expects tariffs on aluminum to create a $100 million headwind on annual earnings. Eli Lilly gains 14% as its experimental pill to fight diabetes while reducing weight meets pivotal goals. Energy and consumer staples stocks are the top gainers among S&P 500 sectors. DJIA falls 1.3%, to 39142; the S&P 500...
US stocks were mostly flat to hold this week's sharp losses before tomorrow's holiday, as markets assessed mixed corporate earnings and risks around President Trump's uncertain tariff policies. The S&P 500 inched above the flatline and the Nasdaq 100 added 0.3% on some respite for the tech sector. TSMC gained 3% on a strong guidance, supporting the broader chip sector after Nvidia's export embargo by Trump and poor results from ASML drove chip stocks to record steep losses this week. On the trade front, threats on tariffs on copper, semiconductors, pharmaceuticals, and lumber were yet...