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...
The Nikkei 225 rose 0.6% to close at 39,901, while the broader Topix climbed 0.7% to 2,840 on Thursday, snapping early losses and rebounding from a slight dip in the previous session. The benchmark index hit its highest level in two weeks, tracking overnight gains on Wall Street after US President Donald Trump denied plans to dismiss Federal Reserve Chair Jerome Powell. Investors also digested Japan's latest trade data, which showed declines in exports to the U.S. and China, offset by strong gains in shipments to the EU, ASEAN, and Russia. However, upside momentum was limited by growing...
The Hong Kong stock market was little changed on Thursday morning deals, after closing slightly lower the day before. The Hang Seng hovered around 24,516 in a choppy session, with modest gains in property and financial stocks offset by subdued performance in tech and consumers. Meanwhile, U.S. futures fell notably after overnight Wall Street gains, as sentiment shifted despite President Trump's assurance that he has no plans to remove Fed Chair Powell. On the trade front, Trump announced plans to issue a single letter to over 150 countries, detailing the tariff rates they would face. He...
Asia-Pacific markets mostly fell Thursday, with investors assessing the fall in Japan's exports for the second consecutive month, as well as U.S. President Donald Trump's denial of his intent to fire Jerome Powell as Federal Reserve chairman. The U.S. President on Wednesday denied the possibility of such a move, hours after he told a room full of Republican lawmakers that he would fire Powell. "We're not planning on doing it," he said at a meeting with Bahrain's Crown Prince Salman bin Hamad Al Khalifa at the White House. "I don't rule out anything," he added, "but I think it's highly...
The Nikkei 225 Index dropped 0.5% to around 39,439, while the broader Topix Index fell 0.1% to 2,816 during Thursday morning trading, as traders remained cautious after US President Trump signaled his intention to impose a 25% tariff on Japan. The index hit its lowest level in over three weeks, after being flat in the previous session. Caution was also built ahead of Japan's upcoming Upper House election on July 20. The latest trade data further pressured sentiment, as the trade surplus narrowed in June compared to the same month last year. Exports unexpectedly fell, while imports rose...
Stocks in the US closed higher on Wednesday after President Trump denied plans to fire Federal Reserve Chair Jerome Powell, though he stopped short of ruling it out entirely. The S&P 500 climbed 0.3%, while the Dow rose 231 points and the Nasdaq 100 edged up 0.1% to mark fresh record close. Markets had initially dipped on reports suggesting Trump was weighing Powell's removal, compounding investor concerns over persistent inflation and ongoing trade tensions. June's flat Producer Price Index provided some relief after Tuesday's hotter-than-expected CPI reading, which showed the fastest...