Asia-Pacific markets traded mixed Monday, as investors keep a close watch on the People's Bank of China's decision on its 1-year and 5-year loan prime rates for July, as well as the latest developments on the trade front. Trade came into focus once again over the weekend as the White House reiterated its position on tariffs. On Sunday, U.S. Commerce Secretary Howard Lutnick called Aug. 1 the "hard deadline" for countries to start paying tariffs, though he also added that "nothing stops countries from talking to us after August 1." South Korean markets started the day higher Monday. As of...
The Hang Seng Index started the day with a 26-point or 0.11% decline, settling at 23,865 points. Meanwhile, the H-share index dropped by 8 points or 0.09%, reaching 8,588 points, and the technology index saw a 13-point or 0.26% decrease, standing at 5,218 points. In the realm of tech stocks, Tencent remained stable; Alibaba experienced a 0.8% decline; Meituan saw a 1% drop; Xiaomi Group rose by 0.1%; and Kuaishou dropped by 0.3%. The fluctuations in the financial sector were mixed, with HSBC Holdings rising by 0.1%; AIA Insurance declining by 0.1%; Ping An of China remaining unchanged; and...
The Nikkei 225 Index fell 0.4% to below 39,700 while the broader Topix Index dropped 0.6% to 2,810 on Thursday, erasing gains from the previous session as stalled trade negotiations between the US and Japan weighed on sentiment. US President Donald Trump recently announced a 25% tariff on Japanese goods, set to take effect on August 1, while ruling out any deadline extensions. Japanese Prime Minister Shigeru Ishiba called the move "truly regrettable," though he reaffirmed Japan's willingness to continue dialogue in pursuit of a mutually beneficial agreement. According to a think tank, the...
Asia-Pacific markets open mixed on Thursday after U.S. President Donald Trump announced that the U.S. will slap a 50% tariff on Brazilian imports beginning August 1. In a letter, Trump said the new tariff — a sharp increase from the 10% rate set in April — is also meant to address what he called a "very unfair trade relationship" between the U.S. and Brazil. The steep rise is also partly in retaliation for the ongoing prosecution of the country's former president, Jair Bolsonaro, Trump added. Opening calls from sunny Singapore Good morning from Singapore! Asia-Pacific markets are set to...
US stocks closed higher on Wednesday (July 9th) as investors weighed the impact of expanding tariffs on corporate earnings and future Federal Reserve policy. The S&P 500 rose 0.6%, snapping a two-day losing streak, while the Dow rose 217 points and the Nasdaq 100 gained 0.7% after Nvidia briefly touched a $4 trillion valuation. The minutes of the Fed's June meeting revealed that officials viewed the newly announced tariffs as inflationary, leading them to delay further interest rate cuts earlier this year. The release came shortly after President Trump expanded the list of countries...
The European stock markets closed higher in Wednesday trading as the Stoxx Europe 600 rose 0.73%, Germany's DAX advanced 1.30%, the FTSE 100 was up 0.15%, France's CAC 40 increased 1.44%, and the Swiss Market Index gained 0.30%. In corporate news, British oil and gas giant BP said Wednesday that it reached an agreement to sell its mobility and convenience and BP pulse businesses in the Netherlands, which includes 300 fuel retail sites and 15 electric vehicle charging hubs, to Catom. Pharmaceutical company Merck said Wednesday that it has agreed to acquire UK-based biopharmaceutical company...