Hong Kong shares fell 282 points or 1.1% to 25,277 in early trade Tuesday, pulling back from Monday's gains as all sectors retreated. Investors reacted to weak June trade data in the city, showing the slowest growth in exports and imports in five months on softening global and domestic demand as trade risks mounted. Some traders took profits after the Hang Seng revisited near four-year highs while Wall Street ended mixed overnight. Sentiment was further weighed by caution ahead of key U.S. events this week, including the Fed's rate decision and inflation readings. In China, July PMI data...
European stocks closed sharply higher on Wednesday, tracking strong momentum in equity markets around the world after the US administration signaled that tariffs on China were likely to be eased in the near future. The eurozone STOXX 50 closed 2.8% higher at 5,100 and the pan-European STOXX 600 gained 1.8% to close at 517. Remarks opposing the duration of the 145% tariffs on China were made by US President Trump and Finance Minister Bessent, who expressed confidence that there would be no long-term trade embargo during the administration. The signals boosted risk assets around the world,...
Wall Street's main indexes rallied at the open on Wednesday after U.S. President Donald Trump dialed back on his threats to fire Federal Reserve Chair Jerome Powell and raised hopes for a trade deal with China. The Dow Jones Industrial Average (.DJI), rose 628.0 points, or 1.60%, at the open to 39,815.01. The S&P 500 (.SPX), rose 108.2 points, or 2.05%, at the open to 5,395.92, while the Nasdaq Composite (.IXIC), rose 579.9 points, or 3.56%, to 16,880.29 at the opening bell. Source: Reuters
The Hang Seng jumped 510 points or 2.4% to close at a more than 3-week high of 22,073 on Wednesday, rising for a third session. The rally followed a surge in U.S. futures after President Trump said he had no plans to fire Fed Chair Powell and signaled the possibility of lower tariffs on China. Trump also backed off earlier threats to remove Powell, having recently urged the Fed to cut interest rates. Financials, consumer, and tech stocks posted solid rises of 2% to over 3%, as investors looked ahead to the upcoming Politburo meeting for clearer policy direction. Citi noted the session...
Japan stocks were higher after the close on Wednesday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 2.02%. The best performers of the session on the Nikkei 225 were Konica Minolta, Inc. (TYO:4902), which rose 9.95% or 39.70 points to trade at 438.60 at the close. Meanwhile, Fujifilm Holdings Corp. (TYO:4901) added 8.73% or 233.50 points to end at 2,909.50 and Hino Motors, Ltd. (TYO:7205) was up 6.55% or 29.70 points to 483.00 in late trade. The worst performers of the session were Nitori Holdings Co Ltd (TYO:9843),...
Major European stock markets advanced on Wednesday, with both the STOXX 50 and STOXX 600 gaining around 1%, building on the previous session's gain and mirroring a broadly positive global sentiment. Investors took comfort after President Trump stated he has no plans to dismiss Federal Reserve Chair Jerome Powell, easing fears over the politicization of US monetary policy. Hopes for a de-escalation in trade tensions between the US and China also lifted sentiment, following remarks from both President Trump and Treasury Secretary Scott Bessent. On the corporate front, shares of SAP jumped...