The Hang Seng Index surged 327 points, or 1.3%, to close at 24,825 on Friday (July 18th), reversing two days of declines as all sectors rallied. The index hit a four-month high and rose 2.8% for the week, marking its second consecutive weekly gain. Strong momentum in mainland Chinese stocks boosted sentiment after Beijing pledged to curb massive price gouging by Chinese companies. Hong Kong's tech index jumped 1.7%, boosted by optimism after Nvidia said it would increase the supply of H20 chips that meet Chinese standards and introduce more advanced chips to the market. Solid gains also...
Asia-Pacific markets are set to open higher on Tuesday as investors appear to look past U.S. President Donald Trump's on-again-off-again tariffs and await a slew of economic data releases out of China. Investors are also awaiting a busy week for second-quarter earnings season from Wall Street, and a key inflation reading, after all three key benchmarks in the U.S. ended Monday's session higher. Asia-Pacific markets open mixed Asia-Pacific markets started the day mixed Tuesday. As of 8.10 a.m. Singapore time (8.10 p.m. Monday ET), Japan's Nikkei 225 benchmark was flat while the broader...
United States Stock Market The three major US indexes traded flat on Monday, as trade tensions escalated following President Trump's weekend announcement of 30% tariffs on imports from the EU and Mexico, which will take effect on August 1. Leaders from both trading partners have pledged to continue negotiations with the US in hopes of reaching a deal that could reduce the tariff hikes. Meanwhile, investors are gearing up for tomorrow's key CPI report, which is expected to show rising inflation as companies begin to pass on higher import costs. Healthcare and energy were the...
The Hang Seng Index rose 64 points, or 0.3%, to close at 24,203 on Monday (July 14), extending gains for the third consecutive session as investors responded positively to Chinese trade data. Exports grew 5.8% year-on-year (yoy) in June, beating the 5% projection as companies accelerated deliveries amid a fragile tariff truce ahead of the August deadline. Meanwhile, imports grew 1.1% after a 3.4% decline in May. Adding to optimism, new yuan loans increased faster than expected in June, driven by a seasonal surge in loan issuance and strong government bond sales. However, further gains were...
European stocks fell on Monday after President Donald Trump dialed up trade tensions by announcing a 30% tariff on goods from the region. The Stoxx Europe 600 Index fell 0.5% as of 8:20 a.m. in London. The consumer and auto sectors were the biggest laggards. Following renewed tariff pressure from Trump, the European Union is getting ready to step up its engagement with other countries hit by levies. The region's benchmark is still up slightly in July, with investors turning their attention to the impact of duties on earnings. "While 30% tariffs on the EU...
Japanese shares ended lower on Monday as a Bank of Japan survey showed 85% of households expect prices to rise, while the central bank may potentially raise its inflation forecast this month on stubborn food costs. The Nikkei 225 declined 0.28%, or 110.06 points, to end at 39,459.62. About 85% of Japanese households expect prices to rise over the next year, slightly down from 86.7% in March, a Bank of Japan survey showed on Monday. The central bank is considering raising its inflation forecast for the current fiscal year due to rising food costs, Reuters reported, citing sources. However,...