Russia needs to restore confidence to make a grand return to global markets, analysts say
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Prospect of a Trump-brokered peace deal with Ukraine has renewed interest but investors remain cautious
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Economy ME
an hour ago
- Economy ME
Stock market today: Asian shares rise, dollar dips ahead of U.S.-China talks in London
Stock markets gained as the dollar eased on Monday, with the Asian market reacting to better-than-expected American jobs data ahead of U.S.-China trade talks in London. As of 6:02 GMT, the U.S. dollar index was down 0.19 percent to 99. On Friday, Wall Street stocks closed sharply higher after the jobs data eased concerns about the economic impact of tariffs. Asian shares gain MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.81 percent while Japan's Nikkei stock index rose 0.87 percent. In the Asian stock market, Hong Kong's Hang Seng also gained 1.27 percent, supported by prospects of tariff easing ahead of the London talks today. In addition, South Korea's KOSPI Index gained 1.28 percent to 2,848.17 and the Taiwan Weighted Index was up 0.60 percent. The Shanghai Composite Index rose 0.35 percent, and the broader Topix index rose 0.56 percent. U.S.-China trade talks boost market hopes Stock markets gained as top trade representatives from Washington and Beijing were set to meet for talks on Monday, with the focus expected to be on critical minerals, whose production is dominated by China. The discussions follow a call last week between Trump and Chinese President Xi Jinping. U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent Washington in talks with China, Trump said in a social media post. Meanwhile, China's foreign ministry said Vice Premier He Lifeng will be in Britain for the first meeting of the China-U.S. economic and trade consultation mechanism. Read: Crude oil prices steady above $66.4 as market eyes U.S.-China trade discussions U.S. inflation data in focus ahead of Fed's meeting Stock markets reacted to U.S. job growth, which slowed in May by less than initially expected, data showed on Friday. However, pessimistic economic data from China reflected the impact of the trade war with the U.S. Market focus now turns to U.S. inflation data due on Wednesday ahead of the Federal Reserve's June 18 meeting. In commodities, gold gained 0.17 percent to $3,317.32 after a 1.3 percent fall on Friday. Meanwhile, oil prices dipped 0.20 percent to $66.34 following a 1.9 percent surge late last week.
Al Etihad
3 hours ago
- Al Etihad
Asian markets rally ahead of latest China-US trade talks
9 June 2025 08:45 Hong Kong (AFP)Stocks rallied on Monday on hopes that a fresh round of China-US trade talks later in the day will ease tensions between the economic superpowers, while investors were also cheered by forecast-topping US jobs gains extended a run-up across global markets in recent weeks as fears about Donald Trump's tariff blitz subside and countries make deals with eyes are on London, where top officials from China and the United States are due to meet for more negotiations aimed at preserving a fragile truce agreed last month that slashed eye-watering tit-for-tat talks come days after Trump and Chinese counterpart Xi Jinping held their first publicly announced telephone talks since the US president returned to the White were helped by news that Beijing had on Saturday approved some applications for rare-earth exports, while plane giant Boeing will start sending commercial jets to China for the first time since that the two sides will make a breakthrough boosted Asian markets, with Hong Kong up more than one percent, while Tokyo, Shanghai, Seoul, Singapore, Taipei and Manila also gains followed a strong lead from Wall Street, where all three main indexes closed more than one percent higher after figures showing the world's largest economy created a forecast-beating 139,000 jobs last the figures for the previous two months were revised down, the data indicated that the economy remained robust, and tempered worries sparked by Wednesday's report by payroll firm ADP showing a big miss on private will now turn to the Federal Reserve as it decides whether to lower interest rates, with many economists warning that Trump's tariffs could reignite inflation, hit supply chains and drag on consumer sentiment."The May minutes and recent comments by several (policy board) members... suggest the Fed is highly attentive to the risk that tariffs will lead to a persistent inflation shock," wrote analysts at Bank of America. "Those risks could come into focus for markets by the fall." Stock Markets Continue full coverage
Khaleej Times
3 hours ago
- Khaleej Times
Trump travel ban comes into effect, barring citizens of 12 nations from entering US
President Donald Trump's sweeping new travel ban came into effect early Monday immediately after midnight, barring citizens from a dozen nations from entering the United States and reviving a divisive measure from his first term. The move is expected to disrupt refugee pathways and further restrict immigration as the Trump administration expands its crackdown on illegal entries. Many of the nations covered by the restrictions have adversarial relations with the United States, such as Iran and Afghanistan, while others face severe crises, like Haiti and Libya. In announcing his restrictions last week, Trump said the new measure was spurred by a recent "terrorist attack" on Jews in Colorado. The group had been protesting in solidarity with hostages held in Gaza when they were assaulted by a man the White House said had overstayed his visa. That attack, Trump said, "underscored the extreme dangers posed to our country by the entry of foreign nationals who are not properly vetted" or who overstay their visas. The move bans all travel to the United States by nationals of Afghanistan, Myanmar, Chad, Congo-Brazzaville, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen, according to the White House. Trump also imposed a partial ban on travelers from Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela. Some temporary work visas from those countries will be allowed. New countries could be added, Trump warned, "as threats emerge around the world". Mehria, a 23-year-old woman from Afghanistan who applied for refugee status, said the new rules have trapped her and many other Afghans in uncertainty. "We gave up thousands of hopes and our entire lives... on a promise from America, but today we are suffering one hell after another," she told AFP. World Cup, Olympics, diplomats excluded The ban will not apply to athletes competing in the 2026 World Cup, which the United States is co-hosting with Canada and Mexico, or in the 2028 Los Angeles Olympics, Trump's order said. Nor will it apply to diplomats from the targeted countries. United Nations rights chief Volker Turk warned that "the broad and sweeping nature of the new travel ban raises concerns from the perspective of international law". US Democratic lawmakers and elected officials blasted the ban as draconian and unconstitutional. "I know the pain that Trump's cruel and xenophobic travel bans inflict because my family has felt it firsthand," congresswoman Yassamin Ansari, who is Iranian-American, posted Sunday on X. "We will fight this ban with everything we have." Rumors of a new travel ban had circulated following the Colorado attack, with Trump's administration vowing to pursue "terrorists" living in the United States on visas. US officials said suspect Mohamed Sabry Soliman, an Egyptian national according to court documents, was in the country illegally having overstayed a tourist visa, but that he had applied for asylum in September 2022. Trump's new travel ban notably does not include Egypt. His proclamation said Taliban-ruled Afghanistan and war-torn Libya, Sudan, Somalia and Yemen lacked "competent" central authorities for processing passports and vetting. Iran was included because it is a "state sponsor of terrorism," the order said. For the other countries, Trump's order cited an above-average likelihood that people would overstay their visas.
