The S&P 500 rose 0.4% on Friday (July 25), notching its fifth consecutive record close—its longest streak in more than a year—while the Nasdaq 100 gained 0.2% after hitting an intraday high. The Dow Jones Industrial Average gained 208 points as investors digested a wave of trade developments and corporate earnings. Optimism surrounding trade talks contributed to the rally, with President Trump scheduled to meet with European Commission President Ursula von der Leyen on Sunday amid hopes of a US-EU deal. Deals were also reached with Japan, Indonesia, and the Philippines ahead of the...
Major bourses in Europe were lower on Thursday, with both the STOXX 50 and the STOXX 600 declining almost 1%, pressured by the auto sector. Yesterday, the Trump administration announced a 25% tariff on "all cars that are not made in the United States" due to take effect on April 2 and President Trump threatened to impose "far larger" tariffs on the EU and Canada if they work together to combat trade tariffs. The autos and part index sank about 3% to hit the lowest level since early December. Shares of Porsche (-5.4%), Mercedes-Benz (-5.4%), BMW (-4.3%), VW (-3.7%), Daimler Truck Holding...
The Hang Seng rose 95 points or 0.4% to end at 23,579 on Thursday, marking its second straight session of gains. Sentiment strengthened after U.S. President Trump suggested he may cut tariffs on China to facilitate the sale of TikTok by its owner, ByteDance. A slight drop of 0.3% yoy in Chinese industrial profits for the first two months of 2025 also provided support after a 3.3% drop in 2024. Most sectors advanced after JPMorgan joined other Wall Street banks in turning more bullish on China, raising its Q4 2025 target for the MSCI China Index to 95, about 7% higher than its prior...
The Nikkei 225 fell 0.6% to close at 37,780 on Thursday, ending a two-day rally, with automakers leading the decline after U.S. President Donald Trump announced a 25% tariff on all imported cars starting next week. Japanese automakers suffered the biggest losses, including Toyota Motor (-2%), Honda Motor (-2.5%), Subaru (-5%), Mazda Motor (-56%), and Nissan Motor (-1.7%). Meanwhile, Prime Minister Shigeru Ishiba warned that Japan would not rule out retaliatory action against Trump's auto tariffs. Technology stocks also fell following a tech-led selloff on Wall Street. Sharp declines were...
Hong Kong stocks rose 341 points, or 1.4%, to 23,824 in early trading on Thursday (3/27), extending gains for a second session amid broad gains. Sentiment was boosted after Wall Street banks turned bullish on Chinese stocks. Morgan Stanley raised its 2025 year-end target for mainland stocks for the second time this year, while Goldman Sachs projected further gains driven by positive earnings revisions. A slight 0.3% year-on-year decline in China's industrial profits for the first two months of 2025 also lent support, following a 3.3% decline in 2024 and reinforcing signs that Beijing's...
Asia-Pacific markets fell Thursday, tracking losses on Wall Street as investors weighed U.S. President Donald Trump's 25% tariffs on auto imports. Japan's benchmark Nikkei 225 was down 1.14% lower while the broader Topix index lost 0.70%. Over in South Korea, the Kospi index declined 0.95% while the small-cap Kosdaq fell 0.54%. Hong Kong's Hang Seng Index rose 0.19% while mainland China's CSI 300 started the day 0.25% lower. Australia's S&P/ASX 200 was down 0.57%. U.S. futures edged down after the three key Wall Street indexes logged losses overnight. The S&P 500 lost 1.12% and...