Vietnamese stocks climb to highest in over three years after Trump announces U.S.-Vietnam trade deal
Vietnamese stocks climbed to its highest in over three years after U.S. President Donald Trump said a trade deal with Vietnam has been struck.
The benchmark Vietnam Index rose 0.3% to its highest since April 2022, data from LSEG showed.
—Lee Ying Shan
An Hour Ago
The Vietnamese dong weakened to a record low of 26,195 per dollar after its trade deal with the U.S., data from LSEG showed.
While Vietnam striking a trade deal with the U.S. set off a rally in U.S. equities, the same enduring optimism among Asian markets and economies is not a given, said Vishnu Varathan, Mizuho Securities' head of macro research, Asia ex-Japan.
"For one, the deal with Vietnam is a stark reminder of the imbalance in leverage, to the disadvantage of Asian exporters," he wrote in a Thursday note.
However, the depreciation of the Vietnamese dong potentially provides a buffer for the 20% tariffs, he added.
—Lee Ying Shan
An Hour Ago
Taiwanese stocks rose as much as 1.1% to the highest since March 6 in early Asia hours, data from LSEG showed. The index's gains were led by a mix of technology and consumer cyclicals stocks.
Semiconductor packaging and testing company Powertech Industrial saw shares jump 10%, leading gains in the index, while Win Win Precision Industrial rose 7.2%. Nan Ya PCB Corporation, which manufactures circuit boards, climbed over 9%.
Lai Yih Footware jumped 8.52%.
—Lee Ying Shan
3 Hours Ago
Asia-Pacific markets started the trading day mixed as of 8 a.m. Singapore time.
Japan's benchmark Nikkei 225 slipped 0.15% and the Topix lost 0.21%.
South Korea's Kospi added 0.77% and the small-cap Kosdaq rose 0.5%.
Australia's S&P/ASX 200 added 0.13% at the open.
—Lee Ying Shan
3 Hours Ago
President Donald Trump said Wednesday that the United States has struck a trade deal with Vietnam that includes a 20% tariff on the Southeast Asian country's imports to the U.S.
The deal will give the U.S. tariff-free access to Vietnam's markets, Trump said on Truth Social.
Vietnam also agreed that goods would be hit with a 40% tariff rate, he added, if they originated in another country and were transferred to Vietnam for final shipment to the United States.
The process, known as transshipping, is used to circumvent trade barriers. China, a top exporter to the U.S., has reportedly used Vietnam as a transshipment hub.
Read the full story here.
—Kevin Breuninger
3 Hours Ago
Hello from Singapore! Asia-Pacific stock markets are looking at a lower open after mixed trading on Wednesday.
Japan's benchmark Nikkei 225 was set to open marginally lower, with the futures contract in Osaka last trading at 39,740, against the index's last close of 39,762.48.
Australia's S&P/ASX 200 is similarly set for a lower open, with futures tied to the benchmark at 8,587 compared to its last close of 8,597.7.
Futures for Hong Kong's Hang Seng index stood at 24,174, lower than its last close of 24,221.41.
We will also be on the lookout if Singapore equities can maintain their streak after notching a new high on Wednesday.
— Lee Ying Shan
7 Hours Ago
The S&P 500 and the Nasdaq Composite finished Wednesday's session in the green.
The broad market index rose 0.47% to close at 6,227.42, while the tech-heavy Nasdaq jumped 0.94%, finishing at 20,393.13. The blue-chip Dow Jones Industrial Average, meanwhile, dropped 10.52 points, or 0.02%, to end the day at 44,484.42.
— Sean Conlon
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