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...
US stocks closed mostly higher on Thursday (July 10th) as investors shrugged off President Trump's latest tariff threats and focused on strong corporate performance and record-breaking profits. The S&P 500 rose nearly 0.3%, hitting a new record, the Dow Jones Industrial Average gained 192 points, while the Nasdaq 100 fell about 0.2%. Despite Trump's announcement of a 50% tariff on Brazilian imports and confirmation of similar duties on copper and other goods starting August 1st, the market remained optimistic. Nvidia shares (0.7%) continued to rally after becoming the first public...
European stock markets rose for the fourth day as investors awaited news on U.S. tariffs and trade agreement. The STOXX Europe 600 index provisionally ended the session up 0.5%. Regionally, the U.K.'s FTSE 100 was up 1.2%, France's CAC 40 was higher by 0.3%, while Germany's DAX bucked the trend by declining 0.3%. Global investors are brushing off a string of announcements of high U.S. tariffs because they are being viewed a "posturing," according to Hargreaves Lansdown's head of money and markets, Susannah Streeter. Ultimately, traders see room to negotiate top rates away in the weeks...
Wall Street opened muted on Thursday, taking a breather after Nvidia's $4 trillion sprint, while airline stocks jumped following Delta's upbeat forecast. At 09:31 a.m. the Dow Jones Industrial Average opens new tab fell 68.24 points, or 0.15%, to 44,390.06, the S&P 500 opens new tab lost 0.83 points, or 0.01%, to 6,262.43 and the Nasdaq Composite opens new tab gained 21.29 points, or 0.10%, to 20,632.63. Source: Reuters
The Hang Seng rose 136 points or 0.6% to close at 24,028 on Thursday, partly recovering from a sharp drop the day before amid strong gains in financial and property stocks. Traders looked for signs of policy support after China's producer prices last month shrank the most in near two years. Meanwhile, minutes from the June FOMC meeting showed that "most participants" expected rate cuts would be appropriate later this year, with any inflation from tariffs seen as "temporary or modest." Markets largely brushed off fresh tariff threats from U.S. President Trump, with analysts noting investors...
European stocks edged higher Thursday, with investors showing a degree of confidence even after U.S. President Donald Trump's latest salvo of trade tariffs. At 03:05 ET (07:05 GMT), the DAX index in Germany gained 0.4%, the CAC 40 in France climbed 0.4% and the FTSE 100 in the U.K. rose 0.8%. New U.S. tariff ratesOn Wednesday, U.S. President Donald Trump sent letters dictating new U.S. tariff rates on at least seven more countries' imports, adding to the letters sent to 14 other countries earlier this week. He also announced a 50% tariff on Brazil after a spat with his Brazilian...