Stocks in the US closed near the flatline on Friday as investors weighed President Trump's push for higher tariffs on the European Union against strong economic data and corporate earnings. The S&P 500 and Nasdaq 100 finished mostly muted near their records, while the Dow Jones dropped 142 points, pressured by a 2.2% decline in American Express shares. Trump reportedly demands a minimum 15-20% tariff in any deal with the EU, which is working to finalize an agreement before his August 1 deadline. On the corporate front, Netflix shares fell 5.1% despite beating revenue and earnings...
The Hang Seng tumbled 236 points or 1.2% to end at 19,367 on Thursday, marking the first decline in three sessions amid escalating trade disputes between China and the US. The Biden administration reportedly may introduce fresh curbs on sales of semiconductor equipment and AI memory chips to China next week. Meanwhile, US President-elect Trump's trade policies and their potential impacts remain uncertain, with China's state media warning of possibly severe repercussions. In business news, media reports said BYD Co. and other Chinese automakers urged suppliers to cut prices, signaling...
The Nikkei 225 Index rose 0.56% to close 38,349 while the broader Topix Index jumped 0.82% to 2,687 on Thursday, with Japanese shares ending a two-day decline as risk sentiment improved, while investors took advantage of lower valuations. However, caution persisted as the yen surged to its highest levels in over five weeks on Wednesday, driven by speculation that the Bank of Japan may raise interest rates again as soon as next month. Markets are now assigning a 60% chance of a 25 basis point rate hike in Japan in December, up from around 50% a week ago. Investors are also closely watching...
European markets are expected to open higher Thursday, rallying after being in the doldrums yesterday. The U.K.'s FTSE 100 index is expected to open 16 points higher at 8,291, Germany's DAX up 72 points at 19,334, France's CAC up 30 points at 7.173 and Italy's FTSE MIB up 98 points at 33,310, according to data from IG. There are no major earnings Thursday, but data releases include Spanish and German inflation and European economic sentiment figures. Italian and Spanish business confidence data is also due. It'll be a quieter day globally with U.S. markets...
Hong Kong's equities plunged 198 points or 1.0% to 19,405 on Thursday morning deals, ending gains in the previous two sessions amid declines in all sectors, especially consumers, tech, and financials. Sentiment was downbeat following overnight losses on Wall Street, driven by a pullback in major US tech stocks ahead of the Thanksgiving holiday. Meanwhile, concerns over trade disputes between China and the US administration were heightened as the Biden administration reportedly considered imposing additional restrictions on the sales of semiconductor equipment and AI memory chips to...
Asia-Pacific markets opened mixed on Thursday after Wall Street's rally stalled overnight even as inflation data matched expectations. The U.S. personal consumption expenditures, or PCE, price index rose 2.3% on an annualized basis, up from 2.1% in September. So-called core inflation, which excludes food and energy prices, rose 2.8% in the 12 months to October, up from 2.7% in the previous month. Both were in line with expectations from economists polled by Reuters, according to LSEG data. The Bank of Korea is expected to keep its benchmark interest rate unchanged at 3.25% when its...