Both the STOXX 50 and STOXX 600 reversed early gains and closed down 0.6% and 0.8%, respectively, on Thursday, retreating from new record highs reached earlier in the session amid downbeat corporate results. Siemens shares plunged 9.1% after the company released a disappointing profit forecast for next year. 3i Group plunged 17.2% after warning of more cautious projections, and Deutsche Telekom reversed early gains and closed the session slightly in the red, even after again raising its 2025 forecast. Meanwhile, Merck jumped 4.9% after reporting operating profit that beat market...
The Hang Seng dipped 401 points or 1.5% to end at 25,889 on Monday, marking a sixth session of losses as all sectors weighed on the index. Sentiment weakened further after President Trump announced Friday 100% tariffs on Chinese exports and new export controls on critical software starting Nov. 1, in retaliation for Beijing's rare earth curbs. Traders shrugged off his later remarks that "trade relations with China will be fine." Markets hit a one-month low, tracking a pullback from decade highs in mainland stocks. Losses were partly offset by stronger-than-expected Chinese trade data...
European stocks started the week in positive territory, with the STOXX 50 rising 0.9% and the STOXX 600 adding 0.6%, as traders geared up for the upcoming earnings season and largely brushed off trade tensions between the US and China. Following Friday's threat by Washington to raise tariffs on China in response to Beijing's rare earth export controls, US President Trump said on Sunday that the "China situation will all be fine." Meanwhile, ASML and LVMH are among the major companies scheduled to release quarterly results this week. On the political front, French President Macron announced...
The Hong Kong stock market opened sharply lower at the start of this week after escalating trade tensions between the United States and China once again shook investor sentiment. The Hang Seng Index fell 656 points, or 2.49%, to 25,634, extending its decline for the sixth consecutive day. Selling pressure spread across sectors, with the Hang Seng Tech Index and the Hang Seng China Enterprises Index also falling more than 2%. This massive sell-off was triggered by US President Donald Trump's threat to impose 100% tariffs on Chinese imports starting next month. Fears of a full-blown trade war...
Asia-Pacific markets fell Monday after China and the U.S. tightened trade restrictions and traded fresh accusations, renewing tensions between the world's two largest economies. China on Sunday said "we are not afraid of" a trade war with the United States after President Donald Trump vowed to impose punishing new retaliatory tariffs on Chinese imports. A spokesperson for China's Ministry of Commerce accused the U.S. of a "textbook double standard" with Trump's promise on Friday to tack on additional 100% tariffs on those imports after China imposed new export controls on rare earths...
The Dow Jones Industrial Average (DJIA) soured sharply on Friday, plummeting to its lowest bids in nearly three weeks and declining over 1,000 points top-to-bottom after US President Donald Trump pulled out of upcoming trade talks with Chinese President Xi Jinping and vowed to sharply increase import tariffs on all Chinese goods. According to Trump, China is holding the rest of the world hostage with its protectionist rare earth materials policies. Market-wide expectations of a potential tariff-easing trade deal between the US and China were demolished by Trump's fresh tariff proclamation,...