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...
European stock markets traded lower on Friday, as global investors digested this week's tariff announcements from the Trump administration and weighed fresh economic data out of the United States. The pan-European Stoxx 600 closed 0.77% lower, its third straight negative close. The U.K.'s FTSE 100 closed just below the flatline, while France's CAC 40 and the German Dax both lost around 1%.Investors were reacting to the U.S. core personal consumption expenditures price index — the Federal Reserve's preferred inflation measure — which rose more than expected on Friday, according to an update...
US stocks traded sharply lower on Friday, with the S&P 500 down 1.4%, the Nasdaq falling 1.9%, and the Dow Jones sinking 500 points, as investors continue to weigh the impact of new tariffs while digesting the latest PCE report. Core PCE prices rose 0.4% on the month, above forecasts, pushing the annual rate higher to 2.8%, in a sign of rising price pressures. Also, personal spending increased less than expected. Meanwhile, fresh reciprocal tariffs are set to take effect next week. Consumer discretionary was by far the worst performer while the utilities sector outperformed. Megacaps...
The STOXX 50 fell 0.5% and the STOXX 600 dropped 0.4% on Friday, extending losses for a third straight session to levels not seen in nearly two weeks. Investor sentiment remained subdued, weighed down by tariffs imposed by the Trump administration, which have continued to raise concerns about the economic outlook.New reciprocal tariffs on U.S. imports, including a 25% levy on cars, are due to take effect on April 2. On the data front, inflation in France and Spain came in below expectations in March, while consumer sentiment in Germany failed to improve as anticipated. Shares of SAP, ASML...
The Hang Seng fell 152 points or 0.65% to close at 23,427 on Friday, snapping two-day gains amid broad-based losses. The index lost 1.1% for the week, marking its third straight weekly fall as investors fled riskier assets over mounting concerns that new U.S. tariffs could hurt global growth. President Trump plans to introduce a 25% tariff on auto imports and new reciprocal tariffs on key trading partners from April 2. Caution also prevailed ahead of U.S. PCE inflation data later today and China's March PMI figures next week. However, declines were cushioned by Chinese President Xi...
Japanese stocks fell after the close on Friday (3/28), as losses in the Shipbuilding, Manufacturing and Services sectors led shares lower. At the close in Tokyo, the Nikkei 225 was down 1.99%. The best performers of the session on the Nikkei 225 were Keio Corp. (TYO:9008), which rose 2.79% or 110.00 points to trade at 4,047.00 at the close. Meanwhile, Nexon Co Ltd (TYO:3659) rose 2.44% or 50.50 points to close at 2,123.00 and DeNA Co Ltd (TYO:2432) gained 1.83% or 67.00 points to 3,730.00 in late trade. The worst performers on the session were CyberAgent Inc (TYO:4751), which fell 5.54%...