The Hang Seng Index plunged 265 points, or 1.1%, to close at 24,508 on Friday (August 1), weakening for a fourth session and hitting a two-week low. Risk sentiment weakened after the US imposed high tariffs on dozens of trading partners, while US futures prices fell sharply after higher June inflation data. The new tariffs are expected to add to price pressures, fueling concerns about further inflation. Traders are also cautious ahead of US employment data due later today. For the week, the index fell 3.5%, its first weekly decline in four weeks, amid concerns about slowing Chinese...
European stock markets opened in positive territory on Tuesday (5/13) as uncertainty over the global trade outlook persisted despite a 90-day pause in the tariff dispute between the U.S. and China. The pan-European Stoxx 600 was 0.26% higher at 8:15 a.m. in London. The U.K.'s FTSE 100 was 0.12% higher, France's CAC 40 was 0.06% higher and Germany's DAX was up 0.16%. This comes after global markets rallied on Monday following news that Washington and Beijing had agreed to cut high tariffs for 90 days, raising hopes that a full-blown trade war could be averted. Asia-Pacific markets...
Japanese stocks rose after the close on Tuesday (5/13), as gains in the Real Estate, Banking and Textile sectors helped stocks advance. At the close in Tokyo, the Nikkei 225 gained 1.54%. The best performers on the Nikkei 225 were Furukawa Electric Co., Ltd. (TYO:5801), which rose 13.84% or 681.00 points to trade at 5,601.00 at the close. Meanwhile, Denka Co Ltd (TYO:4061) rose 9.84% or 191.00 points to close at 2,132.50 and Mitsubishi Motors Corp. (TYO:7211) gained 8.34% or 34.60 points to 449.60 at the close. The worst performers on the session were Sharp Corp (TYO:6753), which fell...
Hong Kong shares plunged 343 points, or 1.5%, to 23,205 during the morning session on Tuesday, ending an eight-day winning streak as investors locked in profits after the Hang Seng hit a 1-1/2-month high. U.S. futures also edged lower ahead of a key inflation report. At the same time, concerns over persistent deflation in China resurfaced after consumer prices fell for a third straight month in April, while factory-gate prices posted their sharpest drop in six months. However, losses were somewhat tempered by a significant lull in U.S.-China trade tensions after high-level talks, with the...
The Nikkei 225 jumped 2.1% to above 38,400, while the broader Topix index gained 1.8% to 2,790 on Tuesday, as Japanese equities hit a multi-month high following a strong rally on Wall Street. The market gains came after the U.S. and China agreed to temporarily lower tariffs, easing fears of a prolonged trade war and reducing the risk of a global recession. In a related development, Japanese Prime Minister Shigeru Ishiba stressed that Japan would not accept an initial trade deal with the U.S. unless it included provisions on the auto sector, urging Washington to remove 25% tariffs on Japanese...
Asia-Pacific markets traded mixed on Tuesday (5/13), following a big rally on Wall Street after the US and China agreed to a trade deal. Hong Kong stocks fell at the open with the Hang Seng Index down 1.02% and the Hang Seng Tech Index down 1.55%. This was a reversal of strong gains posted by both indices in the previous session. Meanwhile, mainland China's CSI 300 index started the day flat. In Japan, the benchmark Nikkei 225 index jumped 1.85%, while the broader Topix index gained 1.36%. In South Korea, the Kospi index rose 0.26% while the small-cap Kosdaq index gained...