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 dropped 149 points or 0.6% to 24,325 on Thursday, snapping the four-day winning streak and retreating from a three-month high amid broad losses and profit-taking. Investor caution resurfaced on worries that Wall Street's recent rally may have outpaced economic fundamentals, especially with persistent macro and geopolitical risks. On Capitol Hill, Fed Chair Powell stated the Fed remains cautious in evaluating how tariffs are influencing consumer prices. Pharma stocks weighed heavily on the index, with sharp declines in Innovent Biologics (-4.5%), Wuxi Biologics (-2.7%), and...
European stocks edged up on Thursday, helped by signs that an Israel-Iran ceasefire appears to be holding, while U.S. President Donald Trump's latest criticism of the Federal Reserve chairman revived concerns over the central bank's independence. The pan-European STOXX 600 index opened up 0.3% at 538.75 points, as of 0707 GMT. Other major regional indexes were also trading higher. On Wednesday, Trump called Fed Chairman Jerome Powell "terrible" and said he had three or four people in mind as contenders for the Fed's top job. The Wall Street Journal reported that Trump has been toying with...
Japanese stocks rose after the close on Thursday (6/26), as gains in the Real Estate, Banking and Textile sectors boosted shares. At the close in Tokyo, the Nikkei 225 rose 1.66% to hit a fresh 3-month high. The best performers on the Nikkei 225 were Ebara Corp. (TYO:6361), which rose 9.84% or 239.00 points to trade at 2,667.50 at the close. Meanwhile, Alps Electric Co., Ltd. (TYO:6770) rose 5.62% or 82.50 points to close at 1,551.50 and SoftBank Group Corp. (TYO:6770) gained 1.66% or 23.00 points to close at 2,667.50. (TYO:9984) rose 5.52% or 514.00 points to 9,830.00 at the close. The...
Hong Kong shares fell 103 points, or 0.4%, to 24,371 on Thursday morning, snapping a four-day rally as traders took profits after the market hit a three-month high. Sentiment was further dampened by Fed Chair Powell's cautious stance on inflation and tariffs during his second day of congressional testimony, though he hinted that a rate cut could be considered if current pressures prove temporary. However, Wall Street's record highs helped limit sharper losses. On the geopolitical front, President Trump announced upcoming U.S.-Iran talks amid a tenuous ceasefire. In China, Premier Li Qiang...
Asia-Pacific markets were mostly down on Thursday, as investors continued to weigh the ongoing ceasefire between Israel and Iran. Japan's benchmark Nikkei 225 rose 1.04% and the Topix gained 0.32%. South Korea's Kospi fell 1.81%, while the small-cap Kosdaq dropped 2%. Australia's S&P/ASX 200 slipped 0.21%. Hong Kong's Hang Seng Index fell 0.72%, and the CSI 300 dropped 0.31%. U.S. futures were largely unchanged. S&P 500 futures traded around the flatline, as did Nasdaq 100 futures and futures tied to the Dow Jones Industrial Average. Federal Reserve Chairman Jerome Powell...