Summary:
The Hang Seng index fell over 1% on Thursday after Wall Street hit a new peak. Trump announced the US-Vietnam trade deal.
The Hang Seng index dropped more than 1% on Thursday after Wall Street climbed overnight to a fresh peak. Trump announced that the US has struck a trade deal with Vietnam.
A seasonal lift for Asian equities in July may be hard to come by this year as macroeconomic concerns dampen sentiment, though the regional shares performed the second best this month on average.
Trump ruled out delaying the July 9 deadline for imposing higher levies on trading partners and renewed threats to hike tariffs on Japan. That saw Japanese shares leading losses in Asia early on Wednesday.
China's manufacturing activity contracted for a third straight month in June, an official survey showed, despite Beijing's stimulus efforts helping to stabilize certain aspects of the industrial sector.
Despite that sign of supply glut and sluggish consumer demand, Hong Kong is on track to regain its position as the world's top fundraising venue for initial public offerings in 2025, according to PwC.
The city's IPO market is red-hot so far this year, boosted by a string of blockbuster deals. It picks up listings that in previous years might have gone to New York amid rising geopolitical tensions.
The Hang Seng index has trended upwards, underpinned by its 50 EMA. But MACD divergence points to slight bearish bias, making the case for a push lower towards 23,760.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
WTI falls on surprise US inventory build, OPEC+ production boost, and signs of slowing demand from China and uncertain US trade policy.
2025-07-03
Vietnam’s VN-Index approaches 1,400 as US trade deal brings a 20% tariff on exports but opens Vietnam’s market to US goods. Stocks hit a 3-year high.
2025-07-03
Due to the uncertainty of U.S. tariffs, May job growth slowed, and steady wage growth may delay the Federal Reserve's rate cuts.
2025-07-03
