US EditionStock market today: Asian markets make modest advance after a slow day on Wall Street
- On Wednesday, Asian markets saw modest gains following a quiet session on Wall Street, where buying slowed after a previous rally fueled by hopes that President Trump's tariffs might be less sweeping than initially anticipated.
- The broad rally on Wall Street the day before was driven by optimism that President Trump's 'reciprocal' tariffs, scheduled to begin on 'Liberation Day' April 2, might be more targeted than previously feared, though strategists still warn of potential sharp swings.
- Among specific market movements, Hong Kong's Hang Seng edged up 0.2% to 23,396.49, Tokyo's Nikkei 225 added 0.3% to 37,890.15, the Kospi in Seoul rose 0.6% to 2,630.09, and Australia's S&P/ASX 200 gained 0.8% reaching 8,003.00, while the Shanghai Composite index barely moved, remaining at 3,370.42.
- In other company news, Trump Media & Technology Group climbed 8.9% after reaching an agreement with Crypto.com to offer a suite of 'America-First' investment funds holding bitcoin and securities with a 'Made in America focus', while Tesla rose 3.4% despite European sales dropping nearly half for the first two months of 2025, and homebuilder KB Home dropped 5.2% after reporting weaker than expected profit and revenue.
- A Tuesday report indicated worsening pessimism among U.S. Households, with the Conference Board's measure of consumer confidence falling more than expected and expectations about short-term conditions dropping to a 12-year low, sitting below the 80 threshold that often signals a recession, even as economic activity and the job market appear to be holding up.
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Stock market: Hong Kong positive, opens at +0.37%
The Hong Kong Stock Exchange opened its session in positive territory, despite the 25% tariffs announced by Donald Trump on cars not produced in the US: the Hang Seng index rose by 0.37% to 23570.07 points in the beginning. The Shanghai Composite Index, on the other hand, fell 0.19% to 3,362.17 points and that of Shenzhen lost 0.43% to 2,037.35.
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Total News Sources21
Leaning Left5Leaning Right4Center6Last UpdatedBias Distribution40% Center
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40% Center
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C 40%
R 27%
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