logo
Asian stocks edge up after US gains, dollar dips

Asian stocks edge up after US gains, dollar dips

Time of India18-07-2025
Asian stocks
made a modest gain at the open Friday as a global equity rally gained fresh vigor on strong
economic data
that eased concerns about the
US economy
.
The
MSCI Asia Pacific Index
rose 0.2% at the open. Equity-index futures for US gained after the S&P 500 and Nasdaq 100 set closing highs Thursday. Tech stocks rose as a bullish outlook from Taiwan Semiconductor Manufacturing Co. bolstered confidence in artificial-intelligence spending. Netflix Inc. also reported strong earnings and raised its forecast.
Explore courses from Top Institutes in
Select a Course Category
Public Policy
Digital Marketing
MBA
healthcare
Project Management
Operations Management
Design Thinking
Product Management
Leadership
Healthcare
Management
Technology
Data Analytics
CXO
Data Science
Cybersecurity
Data Science
Artificial Intelligence
MCA
Finance
PGDM
others
Degree
Others
Skills you'll gain:
Duration:
12 Months
IIM Calcutta
Executive Programme in Public Policy and Management
Starts on
undefined
Get Details
Skills you'll gain:
Economics for Public Policy Making
Quantitative Techniques
Public & Project Finance
Law, Health & Urban Development Policy
Duration:
12 Months
IIM Kozhikode
Professional Certificate Programme in Public Policy Management
Starts on
Mar 3, 2024
Get Details
The yen steadied as Japan's key price measure cooled a tad more than expected, while remaining well above the Bank of Japan's target. The dollar dipped as
Federal Reserve
Governor Christopher Waller said policymakers should cut interest rates this month to support a labor market that is showing signs of weakness. Treasuries rose as yields on the 10-year fell for a third day.
The cross-asset moves were a sign of bullish risk appetite a day after speculation President Donald Trump would fire Jerome Powell sent volatility spiking. The gains in equities reflected strong economic data and confidence US companies will deliver robust second-quarter earnings, calming the uncertainty caused by Trump's tariff war.
'As long as the economy continues to expand and unemployment remains low, then people will continue to spend and the flywheel can keep generating higher profits, which is the engine for higher stock prices,' said Chris Zaccarelli at Northlight Asset Management.
Live Events
A June advance in US retail sales tempered concerns about weaker consumer spending. Applications for US unemployment benefits declined for a fifth straight week to the lowest since mid-April, showing a resilient job market.
Elsewhere, a White House shift on US chip bans that impacts Nvidia Corp. and Advanced Micro Devices Inc. has spurred talk of a grand tech bargain between Washington and Beijing. Separately, the US Commerce Department imposed preliminary anti-dumping duties on Chinese imports of graphite, a key battery component.
Fed Bank of San Francisco President Mary Daly said it's reasonable for policymakers to plan on two rate cuts this year, emphasizing that the central bank should not wait too long before moving. Fed Governor Adriana Kugler said officials should keep holding rates steady 'for some time,' citing accelerating inflation as tariffs start to boost prices.
ETMarkets WhatsApp channel
)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Dip in Asian currencies, outflows likely to keep up pressure on rupee
Dip in Asian currencies, outflows likely to keep up pressure on rupee

Mint

time26 minutes ago

  • Mint

Dip in Asian currencies, outflows likely to keep up pressure on rupee

MUMBAI (Reuters) -The Indian rupee is expected to open weaker on Friday and trade with a modest depreciation bias amid a dip in its regional peers and lingering pressure from portfolio outflows as investors gird for an upcoming news-heavy week. The 1-month non-deliverable forward indicated the rupee will open around 86.48-86.50 versus the U.S. dollar, compared with 86.4050 in the previous session. Asian currencies were down between 0.1% and 0.3%, while the dollar index ticked up to 97.5, as investors braced for U.S. President Donald Trump's tariff deadline, a Federal Reserve policy decision, and key U.S. economic data releases, all due next week. The rupee is expected to trade with a slight downward bias and could test support near 86.70-86.80 in the near term, a trader at a state-run bank said. While there is "nascent" interbank interest in taking long bets on the rupee, that is largely on the back of the market expecting some positive announcement on U.S.-India trade negotiations, the trader added. While optimism about U.S. trade deals with China and the European Union has picked up after an agreement with Japan, the prospects of a deal for India ahead of the August 1 deadline have dimmed. Britain and India signed a free trade agreement on Thursday, with India's trade minister saying that he remains confident of concluding a trade deal with the U.S. while downplaying the significance of the looming deadline. "Beyond tariffs and the rush to close the art of the deal, one continuing theme that we see in Asia and many countries outside the U.S. is the acceleration in moves to diversify away from or at least hedge with the U.S.," MUFG said in a note. In addition to the wait for a trade agreement with the U.S., foreign portfolio outflows have been a pain point for the rupee with overseas investors pulling out about $500 million from local stocks over July so far. ** One-month non-deliverable rupee forward at 86.60; onshore one-month forward premium at 12.50 paisa ** Dollar index up 0.1% at 97.58 ** Brent crude futures up 0.5% at $69.5 per barrel ** Ten-year U.S. note yield at 4.4% ** As per NSDL data, foreign investors sold a net $382mln worth of Indian shares on July 23 ** NSDL data shows foreign investors sold a net $41.7mln worth of Indian bonds on July 23 (Reporting by Jaspreet Kalra; Editing by Eileen Soreng)

Asian stocks dip, breaking longest winning streak; S&P 500 notch record closing highs - Fed uncertainty weighs on global sentiment
Asian stocks dip, breaking longest winning streak; S&P 500 notch record closing highs - Fed uncertainty weighs on global sentiment

Time of India

time32 minutes ago

  • Time of India

Asian stocks dip, breaking longest winning streak; S&P 500 notch record closing highs - Fed uncertainty weighs on global sentiment

Asian markets opened lower on Friday, ending their longest winning streak since January, as investor sentiment took a hit amid growing uncertainty over potential US Federal Reserve rate cuts. Shares in Japan and Australia declined, while South Korea edged slightly higher. With Japan's trade agreement with the US temporarily settled, market focus shifted to the European Union's efforts to reach a deal with Washington to avert new US tariffs ahead of next week's deadline. Wall Street hit new highs on Thursday, with the S&P 500 posting its 10th record in 19 sessions, driven by technology sector gains, despite broader market weakness with most constituent stocks declining. The Dow Jones fell 316.20 points (0.70%) to 44,694.09, the S&P 500 edged up 4.48 points (0.07%) to 6,363.39, and the Nasdaq gained 37.94 points (0.18%) to finish at 21,057.96. US Treasury bonds maintained their losses, with two-year bond yields at 3.91%. The US dollar strengthened, continuing its upward movement from Thursday. The S&P 500 has increased 28% since its April lows, as investors became more confident about limited economic impact from President Donald Trump's tariff policies, Bloomberg reported. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Indonesia: New Container Houses (Prices May Surprise You) Container House | Search Ads Search Now Undo Recent robust employment data reduced expectations for immediate Fed rate cuts before next week's central bank meeting. Following six consecutive weeks of declining jobless claims, traders adjusted their projections to fewer than two rate reductions this year. Technology shares advanced Thursday, supported by strong Alphabet Inc. results, reinforcing confidence in artificial intelligence benefits for US technology companies. Nvidia Corp reached new price levels. US equity futures rose early Friday following Intel Corp.'s positive revenue guidance. Trading specialists at Goldman Sachs Group Inc. and Citadel Securities are advising clients to secure affordable protection against potential US stock market declines, citing various risks to current market highs. Additionally, Trump indicated that removing Fed chair Jerome Powell was not "necessary" after visiting the central bank's premises. Key market figures as of 0230 GMT: Tokyo (Nikkei 225): Down 0.6% at 41,570.24 Hong Kong (Hang Seng): Down 0.7% at 25,487.95 Shanghai (Composite): Down 0.2% at 3,597.77 New York (Dow Jones): Down 0.7% at 44,693.91 (previous close) London (FTSE 100): Up 0.9% at 9,138.37 (previous close) Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

Asian stocks slip from highs, dollar gains ahead of crucial 'tariff' week
Asian stocks slip from highs, dollar gains ahead of crucial 'tariff' week

Business Standard

timean hour ago

  • Business Standard

Asian stocks slip from highs, dollar gains ahead of crucial 'tariff' week

Asian shares eased from highs on Friday, with Japanese markets retreating from a record peak, as investors locked in profits ahead of a crucial week that includes US President Donald Trump's tariff deadline and a host of central bank meetings. The dollar gained against the yen after bouncing off a two-week low on Thursday, helped by some firm US economic data, while Japan's currency was weighed down by political uncertainty amid media reports Prime Minister Shigeru Ishiba will step down. Benchmark Japanese government bond yields hovered just below the highest since 2008. Japan's broad Topix index, which had jumped more than 5 per cent over the previous two sessions to reach an all-time high, pulled back 0.7 per cent. The Nikkei slipped 0.5 per cent from Thursday's one-year high. Hong Kong's Hang Seng lost 0.5 per cent and mainland Chinese blue chips declined 0.2 per cent. Australia's equity benchmark declined 0.5 per cent. At the same time, US S&P 500 futures added 0.2 per cent, after the cash index edged up slightly to a new record closing high overnight, buoyed by robust earnings from Google parent Alphabet. The tech-heavy Nasdaq also marked a record high. MSCI's gauge of stocks across the globe edged down 0.1 per cent, but remained just below an all-time peak from Thursday. The index is on course for a 1.3 per cent weekly advance, buoyed in large part by optimism for US trade deals with the European Union and China, following an agreement with Japan this week. Next week, in the US alone, investors need to contend with Trump's August 1 deadline for trade deals, a Federal Reserve policy meeting, the closely watched monthly payrolls report, and earnings from the likes of Amazon, Apple, Meta and Microsoft. The Bank of Japan has its own policy announcement on Thursday, and Prime Minister Ishiba's Liberal Democratic Party holds a meeting the same day. That's after the European Central Bank held rates steady on Thursday, pausing its easing campaign as it waits to assess any impact from US tariffs. The euro ended the session down 0.2 per cent against a buoyant dollar, and was little changed on Friday at $1.1743. The US currency advanced 0.3 per cent to 147.37 yen, adding to Thursday's 0.4 per cent gain. Trump kept the pressure on Fed Chair Jerome Powell to cut rates after a rare presidential visit to the central bank on Thursday, although he said he did not intend to fire Powell, as he has frequently suggested he would. US 10-year Treasury yields edged down to 4.39 per cent on Friday, effectively erasing an advance on Thursday. [US/] Equivalent Japanese government bond yields eased 0.5 basis point to 1.595 per cent, just off this week's high of 1.6 per cent, a level last seen in October 2008. JGB yields have been rising on concerns the political scale is tilting more towards fiscal stimulus, after big gains for opposition parties backing consumption tax cuts in Sunday's upper house election. Pressure is building on the more fiscally hawkish Ishiba to quit after his coalition lost its majority in the vote, after doing the same in lower house elections last October. Gold was flat at around $3,368 per ounce, keeping it on course for a 0.5 per cent rise this week. Brent crude futures gained 0.3 per cent to $69.35 a barrel, while US West Texas Intermediate crude futures added 0.2 per cent to $66.18 per barrel. [O/R] (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store