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Trade uncertainty, lacklustre data drag Hong Kong shares lower

HONG Kong shares ended weaker on Wednesday as investors reconsidered their initial enthusiasm over a truce in trade dispute between Washington and Beijing, while fresh data pointed to further weakness in the Chinese economy.

Korea cuts growth forecasts on trade war, chip slump

SEOUL: President Moon Jae-in’s government lowered its growth forecast for this year as South Korea’s economy continues to be battered by a downturn in the tech cycle and global trade woes.

Wall Street looks to earnings after strongest June in decades

NEW YORK: On the heels of the S&P 500's best June performance in more than six decades, investors are anxious to see whether earnings can justify further gains as the largest U.S. companies open their books in the coming weeks.

With valuations rising, market watchers are paying close attention to the earnings forecast trend. The S&P 500 is now trading at about 17 times forward earnings, up from 16.3 at the start of the month, based on Refinitiv's data.

Emerging central banks keep cutting rates

LONDON: Emerging market central banks accelerated interest rate cuts in June, with policymakers rushing to trim benchmarks as major central banks including the U.S. Federal Reserve and the European Central Bank adopted a more dovish tone.

MALAYSIA - The central bank on May 7 became the first in Southeast Asia to cut its key interest rate this year, by 25 basis points to 3.0%, moving to support its economy at a time of concern about global growth.

Oil dives 4% on demand worries even as Opec, allies extend cuts

NEW YORK: Oil prices fell more than 4% on Tuesday, even after OPEC and allies including Russia agreed to extend supply cuts until next March, as weak manufacturing data had investors worried that a slowing global economy could dent oil demand.

Brent crude futures fell $2.66, or 4.1%, to settle at $62.40 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $2.84, or 4.8%, to settle at $56.25 a barrel, after touching their highest in more than five weeks on Monday.

Stocks edge higher as trade enthusiasm wanes

NEW YORK: U.S. stocks managed modest gains on Tuesday after holding near the unchanged mark for much of the session as enthusiasm over the U.S.-China trade truce faded after the United States threatened tariffs on additional European goods.

The Dow Jones Industrial Average <.DJI> rose 69.25 points, or 0.26%, to 26,786.68, the S&P 500 <.SPX> gained 8.65 points, or 0.29%, to 2,972.98 and the Nasdaq Composite <.IXIC> added 17.93 points, or 0.22%, to 8,109.09.