Hong Kong stocks fell for the second session, down 46 points or 0.2% to 25,469 on Wednesday morning, after U.S.-China trade talks ended without a meaningful breakthrough. While extending the current tariff truce remains possible, Treasury Secretary Bessent said President Trump will have the final say. Caution also prevailed ahead of the Fed's rate decision later today, with analysts noting most Fed officials prefer to wait and assess the inflationary impact of tariffs before acting, especially with Trump's August 1 tariff deadline looming. Tech shares led the fall, followed by consumers...
The Nikkei 225 index rose 1.35% to close at 34,377 while the broader Topix index jumped 1.29% to 2,530 on Thursday, reversing losses from the previous session as progress in U.S.-Japan trade talks lifted market sentiment. President Donald Trump met with Japanese Economy Minister Ryosei Akazawa, with discussions reportedly expanding to include the cost of troop deployment, adding a geopolitical dimension to the negotiations. On the economic front, Japan's March export growth missed expectations, dragged down by weak demand from China and the EU. However, a return to positive import growth...
Hong Kong stocks rose 266 points, or 1.3%, to 21,324 in early trade on Thursday, led by broad sector gains. The gains followed a weak session and came amid a surge in U.S. stock futures, following an overnight sell-off on Wall Street sparked by Fed Chair Powell's warning that trade tensions could threaten the Fed's inflation and employment targets. Meanwhile, mainland Chinese markets attempted to extend their four-day winning streak after better-than-expected Q1 GDP data. Additionally, reports suggested that Beijing was seeking specific steps from President Trump before agreeing to trade...
Asian stocks traded in a tight range and the yen weakened after US-Japan trade talks advanced, as investors adopt a wait-and-see approach to see how other tariff negotiations unfold. Japanese shares gained slightly after President Donald Trump said negotiators made "big progress" in talks to strike a deal to avoid higher levies. The yen weakened after the country's chief trade negotiator said currencies weren't discussed. Gold advanced to a record while Treasury yields and a gauge of the dollar inched up. The progress in discussions with Japan, "while preliminary, offer a...
Japanese stocks rose as some bargain hunting began following recent declines despite continued uncertainty over U.S. tariffs. Electronics and heavy industry shares led the gains. TDK rose 3.0% and Lasertec added 1.5% while Kawasaki Heavy Industries gained 2.4% and IHI added 1.4%. USD/JPY was at 142.28, compared with 142.36 at the close of trading on the Tokyo Stock Exchange on Wednesday. Investors were focused on tariff-related news ahead of the earnings season that starts next week. The Nikkei Stock Average was up 0.2% at 33,986.96. Source: Bloomberg
Wall Street faced a broad sell-off on Wednesday, led by a steep downturn in tech stocks as trade tensions escalated and investors digested cautious remarks from Federal Reserve Chair Jerome Powell. The S&P 500 lost 2.2%, the Dow dropped nearly 700 points, and the Nasdaq sank 3%. Nvidia plunging 6.9% after the chipmaker disclosed it would take a $5.5 billion charge due to new US export restrictions on its AI chips bound for China. Other chipmakers followed suit, with AMD (-7.3%) and Micron Technology (-2.4%) both falling on cost warnings and weak demand. Powell's speech in Chicago added...