Asian markets waver to start key week for trade, US data
Meanwhile, a key US consumer price index report is set up for Tuesday and could shape future policy decisions by the Federal Reserve, which has come under increasing pressure from the president to cut rates.
Investors have ramped up their bets on the central bank lowering borrowing costs at its next meeting in September following a series of reports -- particularly on jobs -- indicating the world's number one economy was slowing.
Also in view is a high-stakes summit between Trump and Russian counterpart Vladimir Putin on Friday in Alaska, which could pave the way for a deal to resolve the Ukraine war that involves an easing of tough sanctions on Moscow.
In early trade, Hong Kong, Shanghai, Sydney, Seoul, Wellington, Taipei and Jakarta all rose though there were losses in Singapore and Manila. Tokyo was closed for a public holiday.
With Tuesday's US-China tariff truce deadline looming, investors are bullish about the prospects of another extension.
"The market has fully subscribed to the high probability of the tariff truce being rolled over for another 90 days" said Chris Weston of Pepperstone.
"As such, unless diplomatic talks fully break down, news of extension shouldn't move markets too intently," he added.
Gold futures edged down after hitting a record high Friday following reports of an unexpected tariff on the precious metal.
Despite protracted uncertainty about trade, investors remain optimistic about artificial intelligence -- an area of fierce competition between Beijing and Washington.
Reports Monday said that US chip giants Nvidia and Advanced Micro Devices (AMD) had agreed to pay Washington 15 percent of their revenue from selling AI chips to China.
Investors are betting that AI will transform the global economy, and last month Nvidia -- the world's leading semiconductor producer -- became the first company ever to hit $4 trillion in market value.
Key figures at 0300 GMT
Hong Kong - Hang Seng Index: UP 0.2 percent at 24,896.02
Shanghai - Composite: UP 0.3 percent at 3,644.73
Tokyo - Nikkei 225: Closed for a holiday
Pound/dollar: UP at $1.3457 from $1.3451 on Friday
Euro/dollar: UP at $1.1667 from $1.1643
Dollar/yen: DOWN at 147.56 yen from 147.79 yen
Euro/pound: UP at 86.70 pence from 86.54 pence
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sustainability Times
9 hours ago
- Sustainability Times
Young Inventor Says "Spills don't stand a chance" as Kangaroo Cup Empowers Thousands and Launches 21-Year-Old's Inclusive Design Company
IN A NUTSHELL 💡 At age 11, Lily Born invented the Kangaroo Cup to help her grandfather with Parkinson's. invented the to help her grandfather with Parkinson's. 🎯 The cup features a unique design with three legs to prevent tipping and reduce spills. to prevent tipping and reduce spills. 🚀 Lily's invention sold over 10,000 units through crowdfunding platforms, gaining international attention. through crowdfunding platforms, gaining international attention. 🌱 Now 21, Lily leads Imagiroo, focusing on inclusive design and innovative solutions. Lily Born's remarkable journey began at the tender age of nine when she noticed her grandfather struggling to hold a regular cup due to Parkinson's disease. This observation led her to invent a life-changing product: the Kangaroo Cup. Initially inspired by a personal connection, her innovation quickly gained international attention. By the age of eleven, Lily had become a multimillionaire through the sale of thousands of her specially designed cups. Her story is not only a testament to youthful ingenuity but also highlights the potential for simple ideas to create significant impact in the lives of those with disabilities. The Birth of the Kangaroo Cup The idea for the Kangaroo Cup was conceived out of necessity. Lily noticed that her grandfather, who suffered from Parkinson's, often spilled drinks due to the tremors caused by the disease. Determined to help, Lily designed a cup that would provide greater stability. The initial prototype had three legs to prevent tipping and was made from plastic. Her father, recognizing the potential of her design, launched a crowdfunding campaign to bring the product to market. The campaign was a success, and Lily and her father continued to refine the design. They transitioned from plastic to ceramic, only to later return to an improved type of plastic. The updated design included stronger handles and more durable legs, making the cup even more practical for daily use. The Kangaroo Cup quickly became a vital tool for those with Parkinson's or similar conditions, offering a simple yet effective solution to a common problem. 'We Proved the Doubters Wrong': Envision Energy's 500-Day Two-Blade Wind Turbine Shakes Up Industry With Fewer Parts and Unmatched 99.3 Percent Reliability Lily's Journey from Child Inventor to Entrepreneur Now 21 years old, Lily Born has not only continued to develop her product but has also grown into a successful entrepreneur. As the director and chief inventor at her company, Imagiroo, she remains deeply involved in every aspect of the business, from design to marketing. Her passion for innovation and her commitment to improving the lives of others are evident in her ongoing work. Lily's invention journey has not only been about cups. It has also been about learning the intricacies of running a business. Her cups have sold over 1,000 ceramic and 10,000 plastic units through platforms like Indiegogo and Kickstarter. The success of these sales underscores the demand and effectiveness of her design, which continues to evolve and meet the needs of a broader audience, including children and adults who appreciate a more stable drinking vessel. 'Yerba Madre's 'Eco Sneakers Are a Scam': Dirt Shoes Campaign Divides America as Wildflower Seeds Leave Streets a Mess Design and Functionality of the Kangaroo Cup The Kangaroo Cup is not just any cup; it is a thoughtfully designed product that addresses specific needs. The cup's three-legged base provides extra stability, reducing the likelihood of spills even when the user's hands are unsteady. Its low center of gravity further enhances this stability, making it difficult to tip over. This design feature is crucial for individuals with limited motor control, offering them greater independence. Moreover, the cup's large, ergonomic handles ensure a secure grip, making it easier to hold and maneuver. These features combine to create a practical solution for those living with Parkinson's disease, allowing them to drink with confidence and dignity. The Kangaroo Cup's effectiveness has made it a popular choice, not just for those with mobility challenges but for anyone seeking a more reliable drinking option. 'China's Self-Cleaning Glass Just Made American Windows Obsolete': Revolutionary Electric Fields Clear Dust With Zero Effort The Future of Imagiroo and Inclusive Design As Imagiroo continues to grow, Lily remains committed to inclusive design. Her focus extends beyond just creating products; she aims to develop solutions that address real-world problems. The company's latest product, an unbreakable version of the Kangaroo Cup, is designed for broader use, catering to anyone in need of a more stable cup. Lily's journey underscores the power of innovation rooted in empathy and personal experience. By identifying a gap in the market and addressing it with a thoughtful design, she has set a precedent for young inventors everywhere. As she continues to explore new ideas and improve existing products, the question remains: What other everyday challenges can be addressed through such innovative thinking? This article is based on verified sources and supported by editorial technologies. Did you like it? 4.6/5 (25)
Sustainability Times
10 hours ago
- Sustainability Times
"They lifted off from a road": Electra's Hybrid-Electric STOL Jet Stuns Crowd With Ultra-Short Takeoff in Virginia Tech Public Tests
IN A NUTSHELL ✈️ Electra's hybrid-electric STOL aircraft successfully completed public test flights at Virginia Tech . hybrid-electric STOL aircraft successfully completed public test flights at . 🛫 The aircraft uses eight electric propellers and large flaps to achieve a 'blown lift' effect. effect. 🌍 Direct Aviation aims to bring air travel closer to urban centers, reducing waiting times and costs. aims to bring air travel closer to urban centers, reducing waiting times and costs. 📅 Electra plans to launch commercial flights of the EL9 aircraft by 2029, pending certification. In a significant stride toward revolutionizing short-haul aviation, Electra's hybrid-electric STOL aircraft has successfully completed public demonstration flights at Virginia Tech. The innovative design of this aircraft, featuring eight electric propellers and large flaps, allows it to take off and land on surfaces as small as a tenth of a standard runway. These recent tests not only showcased its capability to operate on diverse surfaces but also emphasized its potential to transform air travel accessibility. As the aviation industry seeks more sustainable and efficient solutions, Electra's aircraft could herald a new era of direct aviation, bringing air travel closer to urban centers and reducing operational costs. Innovative Design for Efficient Takeoffs and Landings Electra's STOL aircraft, known as the EL2 prototype, features a cutting-edge design that enables it to take off and land on remarkably short runways. The aircraft's wings are lined with eight electric propellers, a configuration that plays a crucial role in achieving the 'blown lift' effect. This allows the aircraft to lift off at speeds as low as 35 mph, making it particularly suited for short distance travel. The technological prowess of the EL2 does not end there. It incorporates large flaps on the rear of its wings, which further enhance its lift capabilities. The power for these short takeoffs is supplied by onboard batteries, while a small turbogenerator takes over during cruising to recharge the batteries. Such innovations position the aircraft as not only efficient but also environmentally conscious, contributing to reduced emissions compared to traditional aviation methods. Carmakers Face Major Problem: Electric Vehicles Fall Short Of Expectations, Forcing Them To Stick With Gas-Powered Models Public Demonstrations Highlight Versatility The recent public test flights at Virginia Tech were a major milestone for Electra, marking the first time the EL2 prototype was showcased to a wider audience. These demonstrations took place on a variety of surfaces, highlighting the aircraft's adaptability. The prototype successfully utilized a 300 x 75-ft paved runway, a grass field, and even an access road, thanks to a partnership with Virginia's Department of Transportation. These successful demonstrations underscored the aircraft's potential to operate in diverse environments. Marc Allen, CEO of Electra, emphasized the transformative nature of this technology, which could reshape how and where people experience air travel. The ability to operate from unconventional locations could drastically reduce the time and cost associated with reaching major airports, offering a more convenient alternative for travelers. 'Speedometer Barely Moved, Battery Wouldn't Quit' as Chevy Silverado EV Shatters 1,059-Mile Single-Charge Record The Promise of Direct Aviation Electra envisions a future where air travel is not confined to large, out-of-town airports. Instead, they aim to bring aviation closer to where people live and work. This concept, known as Direct Aviation, could offer passengers faster travel with reduced waiting times. A recent study by Georgia Tech identified a significant demand for such services, highlighting the potential market for ultra-short air routes. The economic benefits are also noteworthy. Electra claims that their aircraft can operate at a third of the cost of helicopters, presenting a substantial saving for operators and passengers. Louis Saint-Cyr, COO of Surf Air Mobility, highlighted the aircraft's efficiency, stating that it would be faster to turn around and less expensive to deploy. These advantages could play a key role in attracting new users to this form of aviation. '783 Miles On One Tank': Voyah Passion L Hybrid With 657 HP And Huawei LiDAR Tech Sends Shockwaves Through Luxury Sedan Market Future Prospects and Challenges Electra's ambitious plans extend beyond the EL2 prototype. The company has already secured over 2,200 orders from more than 60 operators worldwide and is aiming to launch commercial flights of the EL9, a nine-passenger version, by 2029. However, several challenges remain, including meeting stringent certification requirements and expanding operator partnerships. The path to commercial viability is paved with regulatory hurdles. Still, Electra remains optimistic about their timeline. The company plans to announce more use cases and sample routes in the coming months, which could provide further insight into the practical applications of their technology. As they move forward, Electra's vision of a more accessible and sustainable aviation future continues to inspire interest and investment. As Electra advances its innovative aircraft, the question remains: Will hybrid-electric STOL technology reshape the future of short-haul aviation, or will it face insurmountable challenges in its quest to take flight? The coming years will be crucial in determining the trajectory of this groundbreaking technology. This article is based on verified sources and supported by editorial technologies. Did you like it? 4.4/5 (20)
France 24
13 hours ago
- France 24
US retail sales rise amid limited consumer tariff hit so far
Overall sales climbed 0.5 percent to $726.3 billion from June, in line with expectations. Gains in motor vehicles and parts and furniture offset declines in electronics and building materials. Analysts described the report as solid, but some pointed to a greater risk of weakening in retail sales in the second half of 2025 following disappointing recent labor market data. Consumer spending is a major driver of the world's biggest economy. "This report will ease some of the worries about the health of consumers' spending following the tariff shock," said a note from Oliver Allen, senior US economist at Pantheon Macroeconomics. "That said, growth in consumption still looks relatively weak, and the softening labor market and further likely pass-through of tariffs suggest a sharp reacceleration is unlikely." The report comes as surveys point to a partial recovery in consumer sentiment compared with the spring, following a dive in the stock market after President Donald Trump in early April unveiled plans for sweeping, large tariff increases with trading partners that have since been watered down somewhat. A survey released Friday from the University of Michigan suggested consumers are girding for a worse hit ahead, with year-ahead inflation expectations rising to 4.9 from 4.5 percent. Overall, the report showed a dip in consumer sentiment in August to 58.6 points from 61.7 in July. The reading bottomed out at 52.2 in the spring. "Consumers are no longer bracing for the worst-case scenario for the economy feared in April when reciprocal tariffs were announced and then paused," said survey director Joanne Hsu. "However, consumers continue to expect both inflation and unemployment to deteriorate in the future." Retailers absorb hit Since the spring, Trump has suspended many of the most onerous tariffs and announced preliminary trade deals with some major partners such as Japan and the European Union. But the net effect of his evolving policy is still a lofty tariff rate by historical standards -- even if it is not as high as earlier threats. Moreover, Trump is continuing to unveil new levies. On Friday, the president told reporters he would set tariffs "next week and the week after" on semiconductors and steel. Data released earlier this week showed a bigger uptick in wholesale prices compared with consumer prices. Some analysts warned that dynamic could mean that those pricing pressures will soon be passed on to consumers. Aware of the vulnerability of consumers, many retailers are so far accepting lower profit margins and absorbing some of the tariffs "with the intention of eventually offsetting it through cost reductions elsewhere," said Neil Saunders of GlobalData. "While some price increases are almost certain, the overall tariff response is shaping up to be far more mixed than initially anticipated," Saunders added. This approach is seen with auto dealers so far, with auto sales rising 1.6 percent, according to Friday's data. "Consumers maintain a moderate rate of spending and even picked up the pace in the past two months as the tariff-price pass-through has been limited thus far," said Kathy Bostjancic, chief economist at Nationwide Financial. Time will tell whether there is a greater hit to consumers down the line. Carl Weinberg, chief economist at High Frequency Economics, said US data Friday that showed an uptick in import prices in July constituted "new evidence of price pressure building in the pipeline," adding that "consumer spending is slowing."
