New York/Singapore — Gold hit a record high, the dollar was firm and Hong Kong shares advanced to a four-month peak on Tuesday as investors navigated shifts in US trade policy and waited to hear from Federal Reserve chair Jerome Powell on tariffs and inflation.
Oil prices clung to a sharp overnight bounce. Hong Kong’s Hang Seng has rallied more than 12% in a month as Donald Trump’s administration has threatened, then suspended, blanket tariffs on Canada and Mexico — seemingly confirming investor assumptions that everything is negotiable.