Gold held a two-day advance, with traders pricing in higher odds of an initial interest-rate cut from the Federal Reserve in September after Chair Jerome Powell told Congress he believes inflation is receding. The precious metal traded above $2,370 after a 0.3% gain the previous session as Powell wrapped up a second day of testimony in Washington, where…
The Hang Seng Index opened 1.3% higher at 17,745.18 in Hong Kong. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 2.6%. Baidu Inc. had the largest increase, rising 10.3%. In early trading, 71 of 82 shares rose, while 10 fell; all sectors were higher, led by commerce and industry stocks. Source…
China’s consumer prices eked out another small gain in June, hovering near zero for a fifth month, a sign that deflationary pressures continue to impede an economic recovery. The consumer price index rose 0.2% from a year earlier, the National Bureau of Statistics said Wednesday. That compares with an increase of 0.3% in May and a median…
Gold edges higher in the early Asian session on signs of demand from bullion ETFs. Inflows from these ETFs have started to emerge, and buying interest from them could become more pronounced into the quarter-end and year-end, Citi Research analysts say in a research report. Citi stays ‘constructive’ on physical uptake of gold over the…
Asia-Pacific markets opened higher on Tuesday, tracking gains on Wall Street that saw the S&P 500 and the Nasdaq Composite closing at record highs overnight. Japan’s Nikkei 225 rose 1%, while the Topix inched up 0.27%. South Korea’s Kospi climbed 0.3% as shares of heavyweight Samsung Electronics gained 0.57%, even as the company’s largest union…
Swiss inflation unexpectedly eased offering reassurance to Swiss National Bank officials who’ve lowered borrowing costs for two straight meetings. Consumer prices rose 1.3% from a year ago in June, the statistics office said Thursday. That’s less than economists estimated and down from May’s 1.4%, which was the fastest clip this year. The slowdown was helped by a 0.2% annual decline in…
