Wall Street's three major indexes managed to close Tuesday's choppy session higher, marking quarterly and monthly gains, even as investors braced for a U.S. government shutdown, which would delay key economic reports and muddy the Federal Reserve's interest rate policy outlook. With investors having bet for some time on a spate of further Fed rate cuts, the benchmark S&P 500, the tech-heavy Nasdaq and the Dow all gained for the second quarter in a row. For the S&P 500 and the Dow, it also marked their fifth straight monthly gain while the Nasdaq registered its sixth straight monthly...
The Hang Seng lost 41 points or 0.2% to close at 24,284 on Friday, marking a second session of drop after a brief rise in morning trade. Sentiment turned cautious after data showed that China's industrial output slumped 9.1% yoy in May, the first fall in three months, dragging year-to-date output down 1.1% amid deflation risks and tariff uncertainty. Traders were also worried ahead of June PMI data in China next week from official and private sources. Property stocks dipped, with losses from China Overseas Land (-3.9%), Henderson Land (-2.3%), and Longfor Group (-1.8%). Pharma names such as...
European stocks rose on Friday as investors assessed signs of easing trade tensions between the United States and China, raising hopes of a further trade deal before a U.S. tariff pause deadline is lifted in July. The pan-European STOXX 600 index, which opened up 0.6 percent at 540.67 points, as of 0707 GMT. It was on track for its first weekly gain in three weeks. Other major regional indexes also traded higher. The United States has reached a deal with China on how to speed up shipments of rare earths to the United States, a White House official said on Thursday. With concerns about...
Japanese stocks rose after the close on Friday (6/27), as gains in the Real Estate, Banking and Textile sectors boosted shares. At the close in Tokyo, the Nikkei 225 rose 1.42% to hit a fresh 3-month high. The best performer on the Nikkei 225 was Sumitomo Metal Mining Co., Ltd. (TYO:5713), which rose 6.87% or 232.00 points to trade at 3,610.00 at the close. Meanwhile, Sumitomo Dainippon Pharma Co Ltd (TYO:4506) rose 6.62% or 61.00 points to close at 983.00 and Yokohama Rubber Co Ltd (TYO:5101) gained 6.42% or 235.00 points to close at 3,897.00. The worst performers on the session were...
Hong Kong stocks edged up 25 points, or 0.1%, to 24,348 in early trade on Friday, following losses in the previous session, largely supported by gains in consumer stocks. An overnight rally on Wall Street lifted sentiment after the S&P 500 closed near a record. The White House's efforts to play down a looming July tariff deadline also helped calm investor nerves. However, the upside momentum was capped by caution ahead of the release of the US PCE index, the Fed's preferred inflation gauge, due later in the day. Meanwhile, recent data showed a slight annual decline in China's industrial...
The Nikkei 225 rose 1.3% to around 40,100 on Friday, while the broader Topix index gained 1.1% to 2,835, as Japanese equities rose to multi-month highs after a strong session on Wall Street. Market sentiment improved after the White House downplayed the urgency of an upcoming tariff deadline, easing investor concerns about a protracted trade war. Spokeswoman Karoline Leavitt indicated the deadline was flexible and could be extended. Meanwhile, investors weighed fresh data showing Tokyo's core inflation slowed in June but remained well above the Bank of Japan's 2% target, maintaining...