European stocks closed lower for a third session amid persistent concerns about US tariffs. The Eurozone STOXX 50 index fell 1% to 5,288, and the pan-European STOXX 600 index fell 0.5% to 544. US Treasury Secretary Bessent noted that White House officials were prioritizing trade agreements they considered beneficial rather than rushing to reach a deal before the August 1 deadline, which could potentially pave the way for the imposition of 30% tariffs on the EU before negotiations conclude. Defense stocks were among the biggest decliners, with Rheinmetall, BAE Systems, and Thales falling...
Japan stocks were lower after the close on Wednesday, as losses in the Shipbuilding, Paper & Pulp and Chemical, Petroleum & Plastic sectors led shares lower. At the close in Tokyo, the Nikkei 225 declined 0.78%. The best performers of the session on the Nikkei 225 were Keisei Electric Railway Co., Ltd. (TYO:9009), which rose 5.02% or 222.00 points to trade at 4,641.00 at the close. Meanwhile, Resonac Holdings Corp (TYO:4004) added 4.08% or 163.00 points to end at 4,155.00 and Kansai Electric Power Co Inc (TYO:9503) was up 3.89% or 71.50 points to 1,907.50 in late trade. The worst...
European equity markets were poised for a subdued open on Wednesday, amid concerns that US President-elect Donald Trump could target European countries with tariffs following his recent threats against China, Mexico, and Canada. Investors were also cautious ahead of a key US inflation report that could influence the Federal Reserve's plans for rate cuts. Meanwhile, market participants will be focused on the latest consumer confidence data from Germany and France, as well as EasyJet's earnings report. In premarket trading, Euro Stoxx 50 futures dropped 0.15%, while Stoxx 600 futures were...
Shares in Hong Kong rose 100 points or 0.5% to 19,260 in early trade on Wednesday following a muted session the day before, mainly supported by gains in property, tech, and consumers. An upbeat session on Wall Street overnight uplifted sentiment, with the Fed's latest minutes being interpreted dovishly ahead of the October PCE index release. Investors were also hopeful that the PBoC would further lower commercial banks' RRR in December to bolster economic recovery in China, following two reductions totaling 100bps in September and February. Limiting the rise was fresh data showing a...
The Nikkei 225 Index dropped 0.5% to below 38,300, while the broader Topix Index lost 0.4% to 2,678 on Wednesday, extending losses from the previous session as the yen continued to strengthen amid speculation that the Bank of Japan may raise interest rates again next month. A stronger yen dampens the profit outlook for Japan's export-driven industries and makes Japanese assets more expensive for foreign investors. Traders are also awaiting the latest Tokyo inflation data, which is seen as a leading indicator for nationwide price trends. Export-heavy auto and consumer stocks led the decline,...
Dow Jones Industrial Average jumping to fresh highs, as investors shook off the threat of new tariffs from President-elect Donald Trump. The blue-chip Dow advanced 123.74 points, or 0.28%, to close at 44,860.31, reversing course after dropping more than 300 points at session lows. The S&P 500 added 0.57% to 6,021.63. Both the Dow and S&P 500 notched new intraday and closing records. The Nasdaq Composite jumped 0.63% to 19,174.30. Trump on Monday night called for a 25% tariff on products from Mexico and Canada, as well as an additional 10% levy on Chinese goods. He has already said...