European stocks declined on Wednesday, with both the STOXX 50 and STOXX 600 slipping nearly 0.2%, reversing modest gains from the previous session, with investors continuing to focus on fresh corporate earnings. Hermès fell more than 2% after its results disappointed investors, while L'Oréal dropped 0.8% following second-quarter sales that missed forecasts. HSBC tumbled 4.4% despite reporting revenue growth and announcing a $3 billion share buyback. Adidas sank nearly 8% after posting weaker-than-expected revenue growth and warning that tariffs would raise prices in the US. In contrast,...
The Hang Seng surged 682 points or 3.0% to close at 23,549 on Monday, marking its eighth straight session of gains and hitting a 1-1/2 month high. The rally followed a sharp rise in U.S. futures after the U.S. and China agreed to a 90-day pause in trade tensions and a major easing of tariffs. Washington will cut duties on Chinese goods to 30% from 145%, while Beijing will lower tariffs on U.S. goods to 10% from 125%. Sentiment was further lifted by data showing China's car sales rose nearly 10% yoy in April. Tech stocks led the advance, with the sector index up around 5%, boosted by gains...
European equity markets are set for a strong start on Monday, boosted by an easing of US-China trade tensions after high-level negotiations over the weekend in Switzerland. US officials announced that a deal had been reached aimed at reducing the trade deficit, while Chinese representatives highlighted a "significant consensus" between the two sides. A joint statement with further details is expected later in the day. Meanwhile, there are no major economic releases in Europe on Monday, with earnings due from Italian banking giant UniCredit. In premarket trading, Euro Stoxx 50 futures rose...
Japanese stocks rose after the close on Monday (5/12), as gains in the Real Estate, Banking and Textile sectors helped stocks advance. At the close in Tokyo, the Nikkei 225 was up 0.42%. The best performers on the Nikkei 225 were Advantest Corp. (TYO:6857), which rose 9.04% or 605.00 points to trade at 7,300.00 at the close. Meanwhile, Pacific Metals Co., Ltd. (TYO:5541) rose 7.30% or 116.00 points to close at 1,704.00 and Yaskawa Electric Corp. (TYO:6506) gained 6.79% or 205.00 points to 3,226.00 at the close. The worst performers on the session were DeNA Co Ltd (TYO:2432), which fell...
Hong Kong stocks jumped 322 points, or 1.4%, to 23,188 on Monday morning, marking their eighth straight session of gains and hitting a 1-1/2-month high. The rally followed a strong surge in U.S. stock futures amid signs of progress in U.S.-China trade talks over the weekend. Washington has highlighted progress toward a deal while Beijing has confirmed both sides have agreed to start formal negotiations. Investor sentiment was further boosted by easing geopolitical tensions, including a fragile ceasefire between India and Pakistan and Ukrainian President Zelenskiy's openness to meeting...
The Nikkei 225 index rose 0.2% to 37,600 while the broader Topix index gained 0.4% to 2,744 on Monday, with Japanese shares hitting a six-week high as the U.S. cited "substantial progress" in trade talks with China over the weekend in Switzerland. The U.S. highlighted efforts to reduce its trade deficit, while Chinese leaders confirmed a "significant consensus" had been reached. However, U.S. Commerce Secretary Howard Lutnick noted that the 10% base tariff on other countries is expected to remain in place "for the foreseeable future." Investors are also keeping an eye on ongoing trade talks...