US stocks closed mixed on Tuesday (July 22nd), as the S&P 500 hit a new record, rising nearly 0.1%, the Dow Jones Industrial Average rose 170 points, and the Nasdaq 100 fell 0.5% ahead of key earnings reports from Alphabet and Tesla. Chip stocks weighed on the Nasdaq, with Nvidia down 2.4% and Broadcom down 3.3% following reports that SoftBank and OpenAI's massive AI project was stalled. Shares of Lockheed Martin (-10.8%) and Philip Morris (-8.2%) fell sharply after disappointing results. General Motors (-8%) also warned of a deeper impact on profits related to tariffs after a 32%...
The Nikkei 225 index rose 1.26% to close at 38,311 while the broader Topix index gained 0.75% to 2,777 on Monday, reversing losses from the previous session as investors appeared to downplay rising geopolitical risks in the Middle East. Clashes between Israel and Iran continued over the weekend, with both sides targeting energy infrastructure and pushing up oil prices. Local equities also benefited from a weaker yen that boosted the profit outlook for Japan's export-heavy industries. Meanwhile, investors' focus shifted to the Bank of Japan's upcoming policy meeting. The central bank is...
The Hang Seng Index started weakly, down 100 points, or 0.42%, to close at 23,791 points. The H-share index fell 32 points, or 0.37%, to close at 8,622 points, while the technology index dropped 32 points, or 0.61%, to 5,207 points. Tech shares showed a general weakening trend with Tencent down 0.5%, Alibaba 0.8%, Meituan 1.3%, Xiaomi unchanged, and Kuaishou down 0.3%. Financial shares were on a downward trajectory with HSBC Holdings down 0.4%, AIA Group 0.2%, China Ping An unchanged, and Hong Kong Stock Exchanges and Clearing down 1.1%.(alg) Source: Dimsumdaily Hong Kong
The Nikkei 225 index rose 0.9% to above 38,000 while the broader Topix index gained 0.8% to 2,778 on Monday, reversing losses from the previous session as investors appeared to downplay rising geopolitical risks in the Middle East. Clashes between Israel and Iran continued over the weekend, with both sides targeting energy infrastructure and pushing up oil prices. Iran has also threatened to close the Strait of Hormuz, a vital passageway for global oil shipments, adding to market uncertainty. Despite the global tensions, domestic focus is turning to the Bank of Japan's upcoming policy...
Asia-Pacific markets rose on Monday as investors assessed escalating Israel-Iran tensions, while awaiting a batch of data from China. Oil prices surged as Israel and Iran traded barbs, while gold prices rose, as investors sought refuge in the safe-haven metal as equity markets slumped globally. The barbs continued over the weekend. Japan's benchmark Nikkei 225 rose 0.87%, while the broader Topix index gained 0.92%. In South Korea, the Kospi index rose 0.55%, while the small-cap Kosdaq gained 0.31%. Australia's S&P/ASX 200 rose 0.24% in early trade. Investors will keep a close eye on...
The STOXX 50 dropped 1.4% and the STOXX 600 declined 1% on Friday, with both indexes closing nearly one-month lows, as rising geopolitical tensions in the Middle East triggered a broad flight to safety. Israel's launched a wave of strikes against Iran targeting nuclear infrastructure and military facilities, killing two top Iranian commanders. Israel has warned of further action, while Iran has vowed retaliation and has already deployed drones toward Israeli territory. The auto sector was among the worst performers, namely Stellantis (-3.4%), Ferrari (-2.8%), Mercedes-Benz (-1.6%), and BMW...