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...
(Hong Kong) The Hang Seng Index initially opened lower by 12 points at 23,499 before showing a repeated positive trend, currently up by 168 points or 0.71% at 23,680. Meanwhile, the H-share index has risen by 68 points or 0.8% to 8,588, and the technology index has climbed by 40 points or 0.77% to reach 5,229. Market turnover stands at 38.2 billion Hong Kong dollars.As of 9.56am, the Hang Seng index was trading at 23,637.78, up by 125.29 points or 0.53% today on June 4th. In the tech sector, Tencent saw a 1.4% increase, Alibaba rose by 0.5%, Meituan surged by 1.7%, Xiaomi Group gained 2%,...
The Nikkei 225 Index jumped 1% to around 37,800 while the broader Topix Index gained 0.5% to 2,785 on Wednesday, snapping a three-day losing streak as gains on Wall Street fueled investor optimism. The upbeat sentiment followed a tech-driven rally in the US, where Nvidia surged nearly 3% to reclaim its title as the world's most valuable publicly traded company, overtaking Microsoft. Back in Japan, Bank of Japan Governor Kazuo Ueda reiterated the central bank's readiness to raise interest rates if economic and inflation projections are met, reinforcing expectations of a cautious shift toward...
Asia-Pacific markets advanced Wednesday after Wall Street rose on the back of a tech rally, led by chipmaker Nvidia, with South Korean stocks leading gains. Shares in the artificial intelligence darling advanced nearly 3%, extending Monday's gains and driving Nvidia's market cap past Microsoft's for the first time since January. Chip companies Broadcom and Micron Technology rose more than 3% and 4%, respectively. South Korean markets rose as opposition party leader Lee Jae-myung won the presidential election. The Kospi index popped 2.44% to hit its highest level since August last year,...
U.S. stocks rose on Tuesday, buoyed by tech strength, solid jobs data and hopes for progress on trade. The S&P 500 rose 0.6%, the Dow gained 214 points and the Nasdaq gained 0.8%, led by a 2.8% rally in Nvidia that briefly made it the most valuable public company. Other chipmakers such as Broadcom (+3.3%) and Micron (+4.1%) also rose sharply, adding to the chip-driven momentum. A stronger-than-expected JOLTS report showed job openings rose by 191,000 to 7.391 million in April, signaling resilience in the labor market despite trade headwinds. However, the OECD cut its 2025 U.S. growth...
European stocks closed mostly flat on Tuesday, recovering from losses of more than 1% earlier in the session after weaker-than-expected euro zone inflation data reinforced expectations for a 25 basis point interest rate cut by the ECB later this week. Meanwhile, global growth concerns weighed on sentiment after the OECD cut its outlook, projecting world GDP to slow from 3.3% in 2024 to 2.9% in 2025 and 2026, citing rising trade tensions. Adding to market jitters, political instability in the Netherlands deepened as the government collapsed over disagreements on immigration policy. In...