Equities in Hong Kong rose 96 points or 0.4% to 24,9 on Monday morning deals, extending gains from the previous session as traders reacted to the PBoC's decision to keep its one-year and five-year loan prime rates at record lows, in line with expectations. The Hang Seng index reached its highest level since early 2022, lifted by broad-based sector gains and a modest uptick in U.S. futures amid optimism over global trade. U.S. Commerce Secretary Howard Lutnick expressed confidence on Sunday that a deal with the EU could be reached before the August 1 deadline, though talks may continue...
US stocks closed at record highs on Friday driven by optimism over pending trade agreements and rising expectations for interest rate cuts, as investors looked past President Donald Trump's comments about halting trade talks with Canada. The S&P 500 gained 0.5%, closing above its February peak, while the Nasdaq 100 also advanced 0.5% to a new high. The Dow Jones rose by 432 points. Earlier in the day, markets surged on encouraging news of trade progress with key partners, including a framework agreement with China. Although Trump's unexpected remarks on Canada briefly dented sentiment,...
European stocks posted their biggest weekly gain since mid-May on optimism that the European Union and the US can clinch some form of trade agreement in the coming weeks. The Stoxx Europe 600 Index rose 1.1% by the close, with automakers and consumer products stocks outperforming. It advanced 1.3% for the week, the most in six weeks. Sportswear companies Adidas AG and Puma SE rose after US peer Nike Inc.'s fourth-quarter revenue beat expectations and it said a yearlong sales decline is starting to ease. Bloomberg reported that European Commission President Ursula von...
US stocks reached new peaks on Friday as optimism of relaxed trade policy and confidence about rate cuts by the Federal Reserve outweighed pessimistic economic data. The S&P 500 and the Nasdaq 100 inched 0.3% higher to a new record while the Dow gained 200 points. Commerce Secretary Lutnick stated that the US reached a trade agreement with China, consolidating the relief of lower tariffs and preventing rare earth shortages. Officials also hinted at progress in trade deals with ten other countries, suggesting that the White House grew some aversion to trade barriers. In turn, the...
The Hang Seng lost 41 points or 0.2% to close at 24,284 on Friday, marking a second session of drop after a brief rise in morning trade. Sentiment turned cautious after data showed that China's industrial output slumped 9.1% yoy in May, the first fall in three months, dragging year-to-date output down 1.1% amid deflation risks and tariff uncertainty. Traders were also worried ahead of June PMI data in China next week from official and private sources. Property stocks dipped, with losses from China Overseas Land (-3.9%), Henderson Land (-2.3%), and Longfor Group (-1.8%). Pharma names such as...
European stocks rose on Friday as investors assessed signs of easing trade tensions between the United States and China, raising hopes of a further trade deal before a U.S. tariff pause deadline is lifted in July. The pan-European STOXX 600 index, which opened up 0.6 percent at 540.67 points, as of 0707 GMT. It was on track for its first weekly gain in three weeks. Other major regional indexes also traded higher. The United States has reached a deal with China on how to speed up shipments of rare earths to the United States, a White House official said on Thursday. With concerns about...