European stocks posted slight declines on Monday (July 21st) as markets continued to assess the trade outlook in the European Union. The Eurozone STOXX 50 fell 0.3% to close at 5,342, and the pan-European STOXX 600 fell 0.1% to 546. US officials maintained the threat of 30% tariffs on EU exports while the EU Commission continued to negotiate lower tariffs ahead of the August 1st deadline. Meanwhile, the EU also signaled that aggressive retaliation would be pursued if no deal was reached, risking escalation and higher prices in the bloc. Shares of luxury goods giants led the decline in the...
The Hang Seng plunged 426 points, or 2.1%, to close at 19,971 on Friday after a strong session the previous day, weighed down by heavy losses across sectors. Investors were disappointed after China's Central Economic Work Conference ended without providing specific policy details on fiscal stimulus, although top leaders pledged to spur consumption. Traders were also cautious ahead of next week's FOMC meeting, with some experts warning that a recent pick-up in U.S. inflation could delay or alter plans for interest rate cuts next year. In China, November activity data including industrial...
The best performers on the Nikkei 225 were Oji Holdings Corp. (TYO:3861), which rose 11.23% or 62.70 points to close at 620.80. Meanwhile, Bandai Namco Holdings Inc. (TYO:7832) rose 7.09% or 237.00 points to close at 3,579.00 and Advantest Corp. (TYO:6857) gained 5.81% or 515.00 points to close at 9,380.00. The worst performers were Omron Cor (TYO:6645), which fell 5.63% or 292.00 points to close at 4,892.00. IHI Corp. (TYO:7013) fell 5.18% or 452.00 points to close at 8,278.00 and Mitsubishi Heavy Industries, Ltd. (TYO:7011) dropped 4.12% or 98.50 points to close at 2,291.50. Declining...
Hong Kong stocks plunged 321 points, or 1.6%, to 20,077 in early trade on Friday, shedding gains from the previous session amid sharp losses across sectors. Traders fled riskier assets after the minutes of China's Central Economic Work Conference lacked policy details, with top leaders reportedly pledging only to raise the fiscal deficit target for next year. Overnight in the U.S., a rally on Wall Street stalled after weekly jobless claims rose more than expected, and producer price data was mixed. Locally, industrial output in Hong Kong fell in the third quarter of 2024 after rising for...
The Nikkei 225 index fell 0.8% to around 39,530 while the broader Topix index fell 0.8% to 2,750 on Friday, paring gains from the previous session and tracking losses on Wall Street overnight after some potentially disappointing economic data in the U.S. On the domestic front, investors reacted to data showing a slight improvement in sentiment among Japan's major manufacturers in the fourth quarter. This has reinforced expectations of a hawkish stance from the Bank of Japan, although uncertainty remains over whether the central bank will raise interest rates in December or January....
Asia-Pacific markets fell on Friday, mirroring Wall Street's moves, weighed down by a higher-than-expected reading on producer price inflation. The producer price index, a measure of wholesale inflation, rose 0.4% in November, beating the Dow Jones estimate of 0.2%. On an annualized basis, the PPI rose 3%, its biggest gain since the 12 months ended February 2023. In Asia, investors weighed China's stimulus pledge after Beijing on Thursday reiterated its recent policy shift and emphasized plans to boost growth after a key meeting. Investors also weighed the Bank of Japan's Tankan survey,...