The Hang Seng Index fell 347 points, or 1.4%, to close at 25,177 on Wednesday (July 30th), extending losses from the previous session amid widespread declines. Technology stocks slumped 2.7%, while consumer discretionary and financial stocks each fell about 1.5%, after US-China trade talks ended without substantial progress, leaving President Trump with the final decision on tariffs. Caution is also growing ahead of today's Fed interest rate decision, with analysts saying most officials prefer to assess the inflationary impact of tariffs, especially with Trump's August 1st deadline...
Japan's Nikkei 225 share average tumbled to its lowest point in more than six months on Monday. The benchmark plunged 4.05% to end the day at 35,617.56, its lowest since September. The worst-performing stocks on Monday include Renesas Electronics, which plunged 10.97%, Socionext Inc which lost 8.66% and Disco Corp which was down 8.35%. The broader Topix index fell 3.57% to 2,658.73. Source: CNBC
Hong Kong stocks fell 0.8% to 23,260 in early Monday trade, extending losses for a second session amid broad sector declines. Sentiment remained weak as investors braced for US reciprocal tariffs set for Wednesday. Meanwhile, an upbeat Chinese PMI failed to offer support despite data showing factory activity at a one-year high and service growth at a three-month high. On the corporate front, CK Hutchison dropped nearly 3% after Chinese state media condemned its port sale near the Panama Canal to BlackRock's group. Other notable laggards included Lenovo (-2.2%), Xiaomi (-2%), Tencent...
The Shanghai Composite fell 0.2% to below 3,345, while the Shenzhen Component dropped 0.9% to 10,510 on Monday, extending losses from the previous session as investors braced for new US tariffs set to take effect this week. Over the weekend, President Donald Trump stated he "couldn't care less" if foreign automakers raise prices in response to the tariffs, while The Wall Street Journal reported that he is pressuring advisors to take a more aggressive stance on trade policies. Meanwhile, data showed that China's manufacturing activity expanded at its fastest pace in a year in March, while...
Tokyo's key Nikkei index fell three percent in early trade on Monday, ahead of the imposition this week of tariffs announced by US President Donald Trump. The benchmark Nikkei 225 index shed 3.02 percent, or 1,122.77 points, to 35,997.56, while the broader Topix index was down 2.86 percent, or 78.85 points, to 2,678.40.
Stocks sold off Friday, pressured by growing uncertainty on U.S. trade policy as well as a more grim outlook on inflation. The Dow Jones Industrial Average closed down 715.80 points, or 1.69%, at 41,583.90. The S&P 500 shed 1.97% to 5,580.94, ending the week down for the fifth time in the last six weeks. The Nasdaq Composite plunged 2.7% to settle at 17,322.99. Shares of several technology giants dropped, putting pressure on the broader market. Google-parent Alphabet lost 4.9%, while Meta and Amazon each shed 4.3%. This week, the S&P 500 lost 1.53%, while the 30-stock Dow shed...