The Hang Seng Index opened higher today, gaining 70 points or 0.27%, to reach 25,458. Meanwhile, the China Enterprises Index rose by 22 points or 0.24%, closing at 9,173, and the Hang Seng Tech Index increased by 21 points or 0.37%, settling at 5,699. Technology stocks displayed mixed movements. Tencent remained unchanged, Alibaba rose by 1.2%, Meituan edged up 0.4%, Xiaomi Group dipped slightly by 0.1%, and Kuaishou gained 0.6%. Financial stocks showed general stability. HSBC Holdings recorded no change, AIA Group rose by 0.5%, Ping An Insurance increased by 0.4%, and the Hong Kong...
The Dow Jones Industrial Average (DJIA) shed further weight on Tuesday, dropping nearly 700 points on the day, or 1.76% after United States (US) President Donald Trump vowed to heat up his own trade war with Canada. President Trump took to his Truth Social account early Tuesday, informing his social media followers that he's instructed his Secretary of Commerce to impose an additional 25% tariff on all Canadian steel and aluminum exports to the US, bringing the new total to 50% on all Canadian metals. The new tariffs are, in theory, slated to go into effect on Wednesday morning. Donald...
The Dow Jones Industrial Average fell on Tuesday after President Donald Trump imposed additional tariffs on Canadian steel and aluminum entering the U.S. The 30-stock average fell 565 points, or 1.4%, while the S&P 500 fell 1%. The Nasdaq Composite slipped 0.6%. In a Truth Social post, Trump said tariffs on steel and aluminum would double to 50% from 25%, effective Wednesday. It was the latest in a series of escalating trade policy moves that have stoked fears of a U.S. economic recession. The White House has already imposed tariffs on Canadian, Mexican and Chinese imports, leading to...
European markets opened lower on Tuesday as global markets slumped amid concerns that the U.S. economy will suffer from President Donald Trump's trade tariffs. The pan-European Stoxx 600 index fell about 0.2% shortly after the opening bell, with the U.K.'s FTSE 100 down 0.2%, while France's CAC 40 gained 0.3% and Germany's DAX added 0.2%. The travel and leisure sectors led the losses. Health care stocks were also in negative territory, after Danish pharmaceutical giant Novo Nordisk's latest weight-loss drug trial results. The pharmaceutical giant fell about 2.62% in early trade, while...
The Hang Seng Index closed almost unchanged at 23,782 on Tuesday, recovering from early losses as most sectors rose. Sentiment improved after Citigroup Inc. raised its outlook on China's stock market to overweight, citing AI breakthroughs. The technology index rose more than 1%, led by Kuaishou Tech (5.2%) and Semicon Manufacturing (3.1%). Properties and financials also gained on hopes that China's parliamentary meeting, which ends today, will boost market confidence despite lingering deflationary pressures, trade tensions with the U.S. and uncertainty in the property market. Meanwhile,...
The Hang Seng closed almost unchanged at 23,782 on Tuesday, recovering from early losses as most sectors rose. Sentiment improved after Citigroup Inc. raised its outlook on China's stock market to overweight, citing AI breakthroughs. The technology index rose more than 1%, led by Kuaishou Tech (5.2%) and Semicon Manufacturing (3.1%). Property and financials also gained on hopes that China's parliamentary meeting, which ends today, will boost market confidence despite lingering deflationary pressures, trade tensions with the U.S. and uncertainty in the property market. Meanwhile, U.S. stock...