(Hong Kong) On the final trading day of July, the Hang Seng Index opened 194 points, or 0.77%, lower at 24,982. The China Enterprises Index fell by 61 points, or 0.68%, to 8,976, while the Technology Index declined 31 points, or 0.58%, to 5,458. WuXi AppTec saw its share price drop 4% after a discounted share placement. Technology stocks broadly weakened, with Meituan leading the decline, falling 3.06%. Alibaba slipped 0.95%, Xiaomi Group dropped 0.82%, Trip.com Group eased 0.57%, and Tencent edged down 0.36%. Financial stocks also displayed weakness. HSBC Holdings extended its losses by...
European stocks dropped sharply on Monday, deepening a global market rout that kicked off last week following the latest announcements of U.S. President Donald Trump's tariffs regime. The pan-European Stoxx 600 was 6% lower shortly after the opening bell, with all sectors and major bourses suffering significant losses. Germany's DAX index was more than 9.5% lower during early deals. Last week, the regional Stoxx 600 index notched an 8.4% loss, marking its worst week in five years. In the past decade, the Stoxx 600 only performed worse at the beginning the Covid-19 pandemic in 2020. Trump...
Asia-Pacific markets extended their sell-off Monday as fears over a global trade war sparked by U.S. President Donald Trump's tariffs fueled a risk-off mood. Hong Kong markets led losses in the region, with the Hang Seng Index declining 10.37%. Mainland China's CSI 300 fell 6.31%. Over in Japan, the benchmark Nikkei 225 lost 6.20% to hit an 18-month low while the broader Topix index plummeted 6.50%. Earlier in the day, trading in Japanese futures was suspended due the market hitting circuit breakers. In South Korea, the Kospi index was last down 4.74%, while the small-cap Kosdaq declined...
(Hong Kong) The escalation of the trade war has reached new heights as U.S. President Trump announced last Wednesday the imposition of "reciprocal tariffs" on all trading partners. In response, China declared countermeasures last Friday, imposing a 34% tariff on all goods from the United States. The global stock markets have been reeling since last Thursday, with a significant downturn witnessed this morning in the Asia-Pacific region. The Japanese stock market plummeted by around 3,000 points, breaching the 31,000 point mark. Investors are seeking refuge in the bond market, leading to a...
Asia-Pacific markets extended their sell-off Monday as fears over a global trade war sparked by U.S. President Donald Trump's tariffs fueled a risk-off mood. Japanese markets led losses in the region in early trade. The benchmark Nikkei 225 plunged 8.03% while the broader Topix index plummeted 8.64%. Over in South Korea, the Kospi index fell 4.34% at the open, while the small-cap Kosdaq fell 3.48%. Australia's S&P/ASX 200 declined 6.07% at the open. The benchmark slid into correction territory with an 11% decline since its last high in February, in its previous session. Futures for...
The Nikkei 225 Index plunged 8% to below 30,000 on Monday, hitting its lowest levels since October 2023 as the global selloff triggered by US President Donald Trump's aggressive tariffs and the resulting trade war intensified. Over the weekend, markets found little relief amid a lack of successful negotiation to lower or at least delay tariffs. The Trump administration also downplayed the market selloff and dismissed fears of inflation and recession, maintaining that tariffs would push through as planned. President Donald Trump stated on Sunday evening that he isn't deliberately causing the...