The Hang Seng climbed 233 points, or 0.9%, to close at 26,855 on Tuesday, reversing early losses to hit a two-week high on broad-based gains. The index jumped 7% in September, its fifth straight monthly advance, and posted a third quarterly gain of 11.6%, fueled by AI optimism, strong inflows, and bets of fresh policy support from Beijing ahead of the October plenum. Still, upside was capped by U.S. political uncertainty, with Vice President Vance warning the government was "headed to a shutdown" amid stalled budget talks. Profit-taking also weighed as traders braced for China's week-long...
Wall Street's major indexes rose on Tuesday, with the S&P 500 and Nasdaq hitting record highs, gaining 1.1% and 1.4% respectively, after July's inflation data largely met expectations. The Consumer Price Index increased 0.2% month-over-month and 2.7% year-over-year, easing concerns about rising prices amid ongoing trade tensions. This bolstered expectations for a Federal Reserve rate cut next month, with traders pricing in about a 90% chance of a 25-basis-point reduction in September. The Dow climbed 483 points, supported by easing trade tensions after President Trump extended a 90-day...
US stocks traded higher on Tuesday, with the three major averages up about 0.5%, as the latest CPI report bolstered expectations of a Fed rate cut next month. Headline annual inflation held at 2.7% in July, below the 2.8% forecast, while core inflation accelerated more than expected to 3.1%. The figures indicated that tariff-related price pressures remain limited so far, giving the Fed room to deliver a 25 bps cut in September. Rate-cut odds, which were at 88% late yesterday, have now climbed to nearly 93%. Sentiment was also lifted after President Trump extended the suspension of steep...
The Hang Seng rose 63 points or 0.25% to close at 24,970 on Tuesday, swinging from early losses and marking the second straight gain. Sentiment finally improved after Washington and Beijing extended their tariff truce by another 90 days, averting triple-digit duties on Chinese exports to the U.S. Meanwhile, mainland markets have trended higher in recent weeks as investors look ahead to October's key annual conclave, expected to focus on the next five-year economic plan. On the economic front, China's vehicle sales grew 14.7% yoy in July, accelerating from June's 13.8%, according to the...
European stocks traded higher on Tuesday (August 12th), with the STOXX 50 and STOXX 600 rising nearly 0.3%, recovering from a sluggish session the previous day, as traders welcomed the extension of the US-China trade truce. President Trump extended the suspension of high tariffs on Chinese goods for another 90 days, until November 10th, while China announced a similar extension for its own tariff suspension. Investors also digested key European economic data, with no major earnings reports scheduled. In the UK, recent data confirmed that the labor market continues to slow, although wage...
The Nikkei 225 jumped 2.15% to close at 42,718, while the broader Topix Index rose 1.39% to 3,066 in post-holiday trading on Tuesday (August 12th), with both benchmarks hitting new record highs thanks to strong corporate performance and improving global trade sentiment. The US-China trade truce was extended for 90 days, easing tensions and giving negotiators more time to finalize a deal. Domestically, investors continued to assess the Bank of Japan's policy outlook, with board members still divided over the timing and pace of future interest rate hikes. In corporate news, SoftBank Group...