(Hong Kong) On the final trading day of July, the Hang Seng Index opened 194 points, or 0.77%, lower at 24,982. The China Enterprises Index fell by 61 points, or 0.68%, to 8,976, while the Technology Index declined 31 points, or 0.58%, to 5,458. WuXi AppTec saw its share price drop 4% after a discounted share placement. Technology stocks broadly weakened, with Meituan leading the decline, falling 3.06%. Alibaba slipped 0.95%, Xiaomi Group dropped 0.82%, Trip.com Group eased 0.57%, and Tencent edged down 0.36%. Financial stocks also displayed weakness. HSBC Holdings extended its losses by...
Stocks sold off Friday, pressured by growing uncertainty on U.S. trade policy as well as a more grim outlook on inflation. The Dow Jones Industrial Average closed down 715.80 points, or 1.69%, at 41,583.90. The S&P 500 shed 1.97% to 5,580.94, ending the week down for the fifth time in the last six weeks. The Nasdaq Composite plunged 2.7% to settle at 17,322.99. Shares of several technology giants dropped, putting pressure on the broader market. Google-parent Alphabet lost 4.9%, while Meta and Amazon each shed 4.3%. This week, the S&P 500 lost 1.53%, while the 30-stock Dow shed...
European stock markets traded lower on Friday, as global investors digested this week's tariff announcements from the Trump administration and weighed fresh economic data out of the United States. The pan-European Stoxx 600 closed 0.77% lower, its third straight negative close. The U.K.'s FTSE 100 closed just below the flatline, while France's CAC 40 and the German Dax both lost around 1%.Investors were reacting to the U.S. core personal consumption expenditures price index — the Federal Reserve's preferred inflation measure — which rose more than expected on Friday, according to an update...
US stocks traded sharply lower on Friday, with the S&P 500 down 1.4%, the Nasdaq falling 1.9%, and the Dow Jones sinking 500 points, as investors continue to weigh the impact of new tariffs while digesting the latest PCE report. Core PCE prices rose 0.4% on the month, above forecasts, pushing the annual rate higher to 2.8%, in a sign of rising price pressures. Also, personal spending increased less than expected. Meanwhile, fresh reciprocal tariffs are set to take effect next week. Consumer discretionary was by far the worst performer while the utilities sector outperformed. Megacaps...
The STOXX 50 fell 0.5% and the STOXX 600 dropped 0.4% on Friday, extending losses for a third straight session to levels not seen in nearly two weeks. Investor sentiment remained subdued, weighed down by tariffs imposed by the Trump administration, which have continued to raise concerns about the economic outlook.New reciprocal tariffs on U.S. imports, including a 25% levy on cars, are due to take effect on April 2. On the data front, inflation in France and Spain came in below expectations in March, while consumer sentiment in Germany failed to improve as anticipated. Shares of SAP, ASML...
The Hang Seng fell 152 points or 0.65% to close at 23,427 on Friday, snapping two-day gains amid broad-based losses. The index lost 1.1% for the week, marking its third straight weekly fall as investors fled riskier assets over mounting concerns that new U.S. tariffs could hurt global growth. President Trump plans to introduce a 25% tariff on auto imports and new reciprocal tariffs on key trading partners from April 2. Caution also prevailed ahead of U.S. PCE inflation data later today and China's March PMI figures next week. However, declines were cushioned by Chinese President Xi...