Latest news with #AsianShares
CTV News
15 hours ago
- Business
- CTV News
World shares are mixed after modest gains put Wall St close to records
A person stands in front of an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, June 3, 2025, in Tokyo. (AP Photo/Eugene Hoshiko) Asian shares were mostly higher Tuesday while European benchmarks gave up early gains. The futures for the S&P 500 and the Dow Jones Industrial Average fell 0.5%. Markets in China advanced despite a report showing manufacturing activity slowed in May, even after China and the U.S. paused tariff hikes to allow time for talks. In early European trading, Germany's DAX was nearly unchanged at 23,950.36, while the CAC 40 in Paris shed 0.4% to 7,709.40. Britain's FTSE 100 slipped 0.2% to 8,757.97. Adding to uncertainty in a region already enduring war in Ukraine, Poland elected Karol Nawrocki, a conservative historian and staunch nationalist, Monday as its next president in a closely watched vote that signaled a resurgence of right-wing populism in the heart of Europe. The survey of Chinese purchasing managers, or PMI, by the financial media group Caixin showed factory output, new export orders, purchasing activity and staffing all declined last month. Incoming new work contracted at the quickest pace in over two-and-a-half years. the report said. The situation is 'a body blow to the backbone of China's economy: small and mid-sized exporters now caught in a brutal vice grip between faltering global demand and a Washington-led tariff regime that's more carrot-and-stick diplomacy than ceasefire,' Stephen Innes of SPI Asset Management said in a commentary. However, as is often the case, investors shrugged off the bad news with the assumption that it might raise the likelihood of more market support from Beijing. Hong Kong's Hang Seng jumped 1.5% to 23,512.49, while the Shanghai Composite index rose 0.4% to 3,361.98. Tokyo's Nikkei 225 edged 0.1% lower to 37,446.81. South Korean markets were closed for a snap presidential election triggered by the ouster of Yoon Suk Yeol, a conservative who now faces an explosive trial on rebellion charges over his short-lived imposition of martial law in December. In Australia, the S&P/ASX 200 climbed 0.6% to 8,466.70. In Taiwan, the Taiex gained 0.6%, while India's Sensex lost 0.5%. Beijing and Washington dialed back trade friction slightly as the U.S. extended exemptions for tariffs on some Chinese goods, including solar manufacturing equipment, that U.S. industries rely on for their own production. The U.S. Trade Representative extended those exemptions, which were due to expire on May 31, by three months through Aug. 31. The U.S. side said President Donald Trump was expecting to speak with Chinese leader Xi Jinping this week. A Chinese foreign ministry spokesperson said Tuesday that they had no information on that. Just a few weeks ago, the United States and China agreed to pause many tariff hikes that had threatened to drag the U.S. economy into a recession. On Monday, U.S. stock indexes drifted closer to their records following a stellar May, Wall Street's best month since 2023. The S&P 500 rose 0.4% and the Dow industrials added 0.1%. The Nasdaq composite climbed 0.7%. Trump has been warning that U.S. businesses and households could feel some pain as he tries to use tariffs to bring more manufacturing jobs back to the country, and their on-and-off rollout has created lots of uncertainty. In other dealings early Tuesday, the yield on the 10-year Treasury fell to 4.42% from 4.44% late Monday. Worries remain over how much debt the U.S. government will pile on due to plans to cut taxes and increase the deficit. U.S. benchmark crude oil was up 27 cents at $62.79 per barrel. Brent crude, the international standard, picked up 18 cents to $64.81 per barrel. The U.S. dollar rose to 142.90 Japanese yen from 142.71 yen. The euro slipped to $1.1414 from $1.1443. Elaine Kurtenbach, The Associated Press
Zawya
7 days ago
- Business
- Zawya
Asian shares, U.S. dollar climb on rosy data, tech optimism
TOKYO: Asian shares continued a rally from Wall Street and the dollar held gains on Wednesday on promising economic signs in the United States and speculation of strong tech earnings. Markets welcomed what appeared to be easing trade frictions between the U.S. and Europe while global bond markets settled down after a scary surge in long-term yields. U.S. consumer confidence surprised on the upside ahead of closely watched jobs figures on Thursday. Nvidia jumped more than 4% yesterday and will be the last of the Magnificent 7 tech giants to report earnings after markets close in the U.S. "There is renewed confidence that Nvidia can beat the consensus estimates," said Chris Weston, head of research at Pepperstone. If Nvidia comes through with better-than-expected sales and profit margins "the rally is on," he added. The chipmaker is expected to report that first-quarter revenue surged 66.2% to $43.28 billion, according to data compiled by LSEG. In signs of a thaw between the U.S. and Europe, European Union officials have asked companies for details of their U.S. investment plans, according to two sources familiar with the matter. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3% in morning trading while Japan's Nikkei advanced 0.6%, climbing a fourth straight session. The dollar index, which tracks the greenback against a basket of currencies, rose 0.1%, adding to Tuesday's 0.6% rally. The greenback advanced 0.1% to $1.132 against the euro . Australian shares were up 0.17%, but the nation's currency slid 0.2% after April consumer price data came in above expectations. The kiwi dollar slid 0.3% after the Reserve Bank of New Zealand cut rates as expected. Japanese bonds slid, trimming a surge yesterday, ahead of a 40-year auction and on speculation the Ministry of Finance will reduce the issuance of long-dated securities. Oil prices ticked up in early trading as the U.S. barred Chevron CVX.N from exporting crude from Venezuela under a new authorization on its assets there, raising the prospect of tighter supply. Brent crude futures rose 0.4% to $64.37 a barrel, while U.S. Spot gold rallied 0.1% after dropping more than 1% on Tuesday.
The Independent
7 days ago
- Business
- The Independent
Asian shares are mostly higher after S&P 500 rallies 2%
Asian shares were mostly higher on Tuesday after President Donald Trump's decision to delay a 50% tariff on goods coming from the European Union sparked a rally on Wall Street. U.S. futures were little changed and oil prices rose. Japan's Nikkei 225 gained 0.5% to 37,918.86 and traders were awaiting the outcome of an auction of 40-year Japanese government bonds. Government debt and bonds have become an increasingly important issue for markets in recent weeks as yields have climbed around the world. The 40-year JGB's yield is at a record 3.5% and a recent auction found relatively few buyers. But analysts said worries eased a bit after Japan's finance ministry sent a questionnaire to bond investors that they took as a signal of efforts to calm the market. The dollar slipped against the Japanese yen, trading at 144.33 yen down from 144.36 yen. The euro fell to $1.1312 from $1.1329. Elsewhere in the region, Hong Kong's Hang Seng index lost 0.3% to 23,304.51, while the Shanghai Composite index edged 0.1% higher to 3,342.36. Australia's S&P/ASX 200 gained 0.2% to 8,425.10. The S&P/NZX 50 in New Zealand fell 1.8% after the central bank cut its benchmark interest rate. In South Korea, the Kospi jumped 1.8% to 2,685.44, helped by a global rally in technology shares. Samsung Electronics' shares climbed 3.3% while SK Hynix was up 3%. In Taiwan, the Taiex added 0.4%. Oil prices rose after the U.S. authorization to Chevron to export crude from Venezuela expired Tuesday. The Trump Administration has been trying to wind down U.S. reliance on Venezuelan energy. U.S. benchmark crude oil gained 33 cents to $61.22 per barrel. Brent crude, the international standard, was up 31 cents at $63.88 per barrel. On Tuesday, Wall Street's roller-coaster ride created by Trump's trade policies resumed following the delay for his tariffs on the European Union. U.S. markets had been closed for Memorial Day on Monday, and the S&P 500 leaped 2.1% in its first trading since Trump's announcement. It closed at 5,921.54. The Dow Jones Industrial Average added 1.8% to 42,343.65, and the Nasdaq composite gained 2.5% to 19,199.16. Wall Street's roller coaster had dropped Friday after Trump announced the tariffs on France, Germany and the other 25 countries represented by the European Union. Talks with the EU have raised hope the United States can reach a deal with one of its largest trading partners, helping to keep global commerce moving and avoiding a possible recession. Trump declared a similar pause on his stiff tariffs for products coming from China earlier this month, which launched an even bigger rally on Wall Street at the time. The uncertainty caused by on-again-off-again tariffs are leaving households and businesses wary about spending and investments. Surveys have already shown U.S. consumers are feeling worse about the economy's prospects and where inflation may be heading because of tariffs. However, a report Tuesday by the Conference Board said confidence among U.S. consumers has improved more in May than economists expected. It was the first increase in six months, and consumers' expectations for income, business and the job market in the short term jumped sharply, though they remain below the level that typically signals a recession ahead. About half the survey results came after Trump paused some of his tariffs on China. On Wall Street, Nvidia rallied 3.2% and was the strongest single force driving the S&P 500 higher ahead of its profit report coming on Wednesday. It's the last to report this quarter among the 'Magnificent Seven' Big Tech companies. Nvidia has been riding a tidal wave of growth created by the frenzy around artificial-intelligence technology, but it's facing criticism that its stock price has shot too high. Informatica climbed 6% after Salesforce said it would buy the AI-powered cloud data management company in an all-stock deal valuing it at about $8 billion. Salesforce rose 1.5%. Treasury yields eased to take some of the pressure off the stock market. The yield on the 10-year Treasury fell to 4.44% from 4.51% late Friday. It had been rising last week, in part because of worries about the U.S. government's rapidly increasing debt. ___ AP Business Writers Matt Ott and Stan Choe contributed.
Washington Post
7 days ago
- Business
- Washington Post
Asian shares are mostly higher after S&P 500 rallies 2%
Asian shares were mostly higher on Tuesday after President Donald Trump's decision to delay a 50% tariff on goods coming from the European Union sparked a rally on Wall Street. U.S. futures were little changed and oil prices rose. Japan's Nikkei 225 gained 0.5% to 37,918.86 and traders were awaiting the outcome of an auction of 40-year Japanese government bonds. Government debt and bonds have become an increasingly important issue for markets in recent weeks as yields have climbed around the world.
Associated Press
7 days ago
- Business
- Associated Press
Asian shares are mostly higher after S&P 500 rallies 2%
Asian shares were mostly higher on Tuesday after President Donald Trump's decision to delay a 50% tariff on goods coming from the European Union sparked a rally on Wall Street. U.S. futures were little changed and oil prices rose. Japan's Nikkei 225 gained 0.5% to 37,918.86 and traders were awaiting the outcome of an auction of 40-year Japanese government bonds. Government debt and bonds have become an increasingly important issue for markets in recent weeks as yields have climbed around the world. The 40-year JGB's yield is at a record 3.5% and a recent auction found relatively few buyers. But analysts said worries eased a bit after Japan's finance ministry sent a questionnaire to bond investors that they took as a signal of efforts to calm the market. The dollar slipped against the Japanese yen, trading at 144.33 yen down from 144.36 yen. The euro fell to $1.1312 from $1.1329. Elsewhere in the region, Hong Kong's Hang Seng index lost 0.3% to 23,304.51, while the Shanghai Composite index edged 0.1% higher to 3,342.36. Australia's S&P/ASX 200 gained 0.2% to 8,425.10. The S&P/NZX 50 in New Zealand fell 1.8% after the central bank cut its benchmark interest rate. In South Korea, the Kospi jumped 1.8% to 2,685.44, helped by a global rally in technology shares. Samsung Electronics' shares climbed 3.3% while SK Hynix was up 3%. In Taiwan, the Taiex added 0.4%. Oil prices rose after the U.S. authorization to Chevron to export crude from Venezuela expired Tuesday. The Trump Administration has been trying to wind down U.S. reliance on Venezuelan energy. U.S. benchmark crude oil gained 33 cents to $61.22 per barrel. Brent crude, the international standard, was up 31 cents at $63.88 per barrel. On Tuesday, Wall Street's roller-coaster ride created by Trump's trade policies resumed following the delay for his tariffs on the European Union. U.S. markets had been closed for Memorial Day on Monday, and the S&P 500 leaped 2.1% in its first trading since Trump's announcement. It closed at 5,921.54. The Dow Jones Industrial Average added 1.8% to 42,343.65, and the Nasdaq composite gained 2.5% to 19,199.16. Wall Street's roller coaster had dropped Friday after Trump announced the tariffs on France, Germany and the other 25 countries represented by the European Union. Talks with the EU have raised hope the United States can reach a deal with one of its largest trading partners, helping to keep global commerce moving and avoiding a possible recession. Trump declared a similar pause on his stiff tariffs for products coming from China earlier this month, which launched an even bigger rally on Wall Street at the time. The uncertainty caused by on-again-off-again tariffs are leaving households and businesses wary about spending and investments. Surveys have already shown U.S. consumers are feeling worse about the economy's prospects and where inflation may be heading because of tariffs. However, a report Tuesday by the Conference Board said confidence among U.S. consumers has improved more in May than economists expected. It was the first increase in six months, and consumers' expectations for income, business and the job market in the short term jumped sharply, though they remain below the level that typically signals a recession ahead. About half the survey results came after Trump paused some of his tariffs on China. On Wall Street, Nvidia rallied 3.2% and was the strongest single force driving the S&P 500 higher ahead of its profit report coming on Wednesday. It's the last to report this quarter among the 'Magnificent Seven' Big Tech companies. Nvidia has been riding a tidal wave of growth created by the frenzy around artificial-intelligence technology, but it's facing criticism that its stock price has shot too high. Informatica climbed 6% after Salesforce said it would buy the AI-powered cloud data management company in an all-stock deal valuing it at about $8 billion. Salesforce rose 1.5%. Treasury yields eased to take some of the pressure off the stock market. The yield on the 10-year Treasury fell to 4.44% from 4.51% late Friday. It had been rising last week, in part because of worries about the U.S. government's rapidly increasing debt. ___ AP Business Writers Matt Ott and Stan Choe contributed.
