Latest news with #Nikkei
The Market Online
9 hours ago
- Business
- The Market Online
@ the Bell: TSX closes lower as trade fears resurface
Equities in Canada's largest centre moved lower on Friday, weighed down by renewed trade tensions after US President Donald Trump accused China on social media of breaching a tariff agreement. This concern overshadowed otherwise positive news about the country's economic growth. The telecom sector once again led gains for the TSX. Trump's claim that China violated the initial trade deal has reignited fears of a prolonged trade war between the two nations. Meanwhile, the US administration's aggressive tariff strategy remains mired in legal uncertainty. Investors are now left questioning whether a lasting trade agreement between the US and China is achievable anytime soon. The S&P finished up its best month since June 2023. The Canadian dollar traded for 72.86 cents US compared to 72.42 cents US on Thursday. US crude futures traded $0.20 lower at US$60.74 a barrel, and the Brent contract lost $0.24 to US$63.93 a barrel. The price of gold was down US$27.70 to US$3,293.72. In world markets, the Nikkei was down 467.88 points to ¥37,965.10, the Hang Seng was down 283.61 points to HK$23,289.77 the FTSE was up 55.93 points to ₤8,772.38, and the DAX was up 64.25 points to €23,997.48. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
International Business Times
11 hours ago
- Business
- International Business Times
Asian Markets React to U.S. Tariff Shifts, Japan Debt Concerns and Strong Yen Pressure Stocks
Markets in Asia finished the week cautiously as investors awaited critical United States inflation figures and a continuing air of uncertainty over American trade tariffs. Korea's KOSPI last week recorded its biggest monthly rise since November 2023, and Hong Kong's Hang Seng also made strong gains. But investors were feeling less optimistic this week in light of the renewed attention to tariffs, economic indicators, and bond yields. World markets were rattled when an American court halted most of President Donald Trump's tariffs. A few days later, a federal appeals court temporarily restored them. This pendulum has raised concerns throughout Asia, particularly in export-weighted nations like Japan and China. The sense is that U.S. policies are influencing sentiment as investors recalibrate expectations for trade and inflation. Japan's Nikkei closed down after having gained almost 2% the day before as profit-taking set in. Japan's escalating debt fears and a poor reaction to a 40-year bond auction also spooked traders. Such longer-term debt concerns weighed on financial stocks and public sentiment. After opening higher, the Nikkei gave up some solid gains as investors re-evaluated risks. The Japanese yen made a sharp recovery, gaining as much as 2 percent from its low on Thursday. During Friday's European trading hours, it was trading below 144 yen to the dollar. The move is indicative of investor wariness, as well as the general flight from riskier assets around the world. The euro and the British pound also fell slightly against the dollar, to $1.13 and $1.34. China's blue-chip CSI300 index was down 0.5%, and Hong Kong's Hang Seng fell 1.2%, primarily on the back of declines in Apple suppliers hit by tariff fears. But both indexes were still on track for monthly gains. All in all, emerging Asian markets fared well, in line with a 5% jump in MSCI's global index last month. Investors now await U.S. Personal Consumption Expenditures (PCE) data, which is the Federal Reserve's favorite inflation metric. This release has the potential to help determine whether the Fed raises or lowers interest rates later this year. In early trading in Europe, U.S. Treasury yields rose further. The dollar rose 0.3% and was on track for its first monthly gain of 2025 with gains of less than 0.05%. Adding to market jitter, a clause in Trump's budget proposal included a provision that would give the U.S. the right to levy a 20% tax on overseas investments. And while it's not something receiving much press, there are some close watches on this idea. Analysts caution that it is likely to lessen international capital flow and risk nudging the economy toward stagflation, where high inflation collides with low growth. Among commodities, oil was on track for a second weekly decline but was still up for the month. This is because the market braces for higher OPEC+ output and recent demand concerns. Gold prices, meanwhile, continued to surge, helping currencies like Ghana's cedi, which soared nearly 40% in May. Despite the tariff drama, the U.S. government confirmed ongoing trade talks. Treasury Secretary Scott Bessent said he would meet with a Japanese delegation in Washington, though negotiations with China were "a bit stalled."
Nikkei Asia
11 hours ago
- Politics
- Nikkei Asia
Weak US may force China into 'global hegemon' role: Columbia scholar
NEW YORK -- China may have no choice but to become the dominant global player if U.S. President Donald Trump's policies weaken America and create a power vacuum, Columbia University political science professor Andrew Nathan told Nikkei on Wednesday. Nathan, who has studied Chinese politics and foreign policy for more than five decades, said in an online interview that he does not believe that Beijing currently has a fixed goal to "be the No. 1 power."
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Nikkei Asia
14 hours ago
- Business
- Nikkei Asia
Huawei invested in 60-plus China chip firms since US sanctions
GUANGZHOU -- Huawei Technologies has bought into more than 60 Chinese chip-related companies since it became subject to U.S. sanctions in 2019, Nikkei has found, as it works to overcome a lack of access to Western technology with a homegrown supply chain. Huawei has been expanding investments in the companies through Hubble, a wholly owned investment company it set up in 2019 when Washington began to restrict the Chinese telecom leader's access to U.S. technology and its market.
Business Recorder
15 hours ago
- Business
- Business Recorder
KSE-100 adds 720 points amid bullish momentum
Buying rally continued at the Pakistan Stock Exchange (PSX) on Friday, with the benchmark KSE-100 Index closing the day with a gain of 720 points. The bulls largely maintained their grip over the market, hitting the index to an intra-day high of 119,913.88. At close, the benchmark index settled at 119,691.09, up by 719.69 points or 0.60%. Top positive contributions to the index came from FFC, MEBL, HUBC, PKGP, ENGROH and MCB, as they cumulatively contributed 668 points to the index, brokerage house Topline Securities said in its post-market report. The KSE 100 Index gained 7.5% on month-on-month (MoM) basis. 'This gain can be attributed to cut in policy rate by 100bps by SBP to 11% in its monetary policy meeting - citing improvement in inflation outlook relative to the previous assessments and approval of first review of EFF by IMF board along with a new facility under Resilience and Sustainability Facility of US$1.4 billion,' Topline said. On Thursday, the PSX closed in the green zone, as investors remained strong due to various domestic and international reasons. The KSE-100 Index gained 638.50 points or 0.54% to settle at 118,971.40 points. Internationally, stocks slipped in Asia on Friday, and the US dollar dropped with Treasury yields as investors digested an appeals court's decision to keep President Donald Trump's tariffs in effect, a day after markets rallied on a separate ruling blocking most of them. Japan's Nikkei saw the most pronounced selling, after experiencing the most pronounced buying on Thursday, with moves in the exporter-heavy index exacerbated by the ebb and flow in demand for the safe-haven yen. Asian shares, US dollar climb on rosy data, tech optimism The United States Court of Appeals for the Federal Circuit in Washington temporarily reinstated Trump's duties on Thursday while it considers the government's appeal. The Nikkei dropped 1.7% in the Asian morning, putting it basically back at Wednesday's closing level. The yen strengthened about 2% from its low on Thursday to last change hands at around 143.48 per US dollar. A stronger yen reduces the value of overseas revenues. Hong Kong's Hang Seng sank 1.4% and mainland China's blue chip index eased 0.3% in early trading. South Korea's KOSPI fell 0.5%. MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.4%. Meanwhile, the Pakistani rupee registered marginal gain against the US dollar, appreciating 0.02% in the inter-bank market on Friday. At close, the local currency settled at 282.02, a gain of Re0.05 against the greenback. Volume on the all-share index decreased to 580.32 million from 741.65 million recorded in the previous close. The value of shares declined to Rs22.74 billion from Rs23.91 billion in the previous session. WorldCall Telecom was the volume leader with 79.67 million shares, followed by K-Electric Ltd with 47.70 million shares, and Cnergyico PK with 35.76 million shares. Shares of 474 companies were traded on Friday, of which 259 registered an increase, 161 recorded a fall, while 54 remained unchanged.
