Latest news with #AsianStocks
Bloomberg
7 hours ago
- Business
- Bloomberg
Asian Stocks Set for Boost After US Tech Rebound: Markets Wrap
Asian stocks are set for a positive open after a rebound in big tech drove US stocks higher. Bonds fell as the dollar hit its lowest since 2023. Futures pointed to solid gains in Tokyo, Hong Kong and Sydney equity benchmarks early Tuesday, after the S&P 500 rose 0.4% at the start of what's historically one of its quietest months for gains. Nvidia Corp. led an over 1.5% rally in a measure of chipmakers. US steel and aluminum shares surged on Donald Trump's pledge to double levies on the metals.
Yahoo
27-05-2025
- Business
- Yahoo
Asia stocks muted amid trade caution; Japan dips on BOJ rate hike comments
Most Asian stocks moved in a flat-to-low range on Tuesday as investors remained on edge over more U.S. trade tariffs, while Japanese markets dipped after Bank of Japan Governor Kazuo Ueda signaled that more interest rate hikes were possible. Regional markets received scant trading cues from Wall Street, which was closed on Monday for the Memorial Day holiday. But U.S. stock index futures rose sharply in Asian trade, as investors cheered President Donald Trump's delaying of steep trade tariffs on the European Union. S&P 500 Futures jumped 0.9%. Focus this week, especially in the technology sector, was also on upcoming earnings from artificial intelligence major NVIDIA Corporation (NASDAQ:NVDA), which are due on Wednesday. Japan's Nikkei 225 fell 0.3%, while the TOPIX was flat after BOJ Governor Ueda flagged risks from high underlying inflation, and warned that the central bank will raise interest rates further if the Japanese economy improves. Ueda said that if upcoming economic readings continue to signal strength, the BOJ will further scale back monetary easing. He also said that Japanese inflation was the closest it has been to the BOJ's 2% annual target in 30 years. Ueda's comments come after data last week showed a bigger-than-expected pickup in Japanese consumer inflation, as private spending was supported by strong springtime wage hikes. But Japan's economy shrank in the first quarter of 2025, amid growing concerns over the impact of U.S. trade tariffs on local businesses, especially automakers. Broader Asian markets moved in a flat-to-low range on Tuesday, as investors remained on edge over more U.S. trade tariffs. While Trump did postpone his proposed EU tariffs, he did not address his threat to tariff smartphone imports to the U.S., which could bode poorly for several Asian tech majors. South Korea's KOSPI was among the worst performers in Asia on Tuesday, down 0.5% as chipmakers Samsung Electronics Co Ltd (KS:005930) and SK Hynix Inc (KS:000660) retreated. Samsung could also be subject to U.S. import duties on smartphones. Trump's smartphone tariff threat was aimed primarily at Apple Inc (NASDAQ:AAPL), which sent shares of the company's Asian suppliers lower this week. Hong Kong and China-listed AAC Technologies (OTC:AACAY) (HK:2018) and Luxshare Precision Industry Co Ltd (SZ:002475) lost nearly 2% each. Xiaomi Corp (HK:1810) lost 0.7% before its quarterly earnings due later in the day. The Hang Seng index added 0.2%, while the mainland Shanghai Shenzhen CSI 300 and Shanghai Composite indexes fell 0.4% and 0.1%, respectively. Taiwan's TSMC (TW:2330) fell 1%, while Hon Hai Precision Industry Co Ltd (TW:2317) rose 0.3%. HK-listed shares of (HK:9618) fell sharply after rival Meituan's (HK:3690) CEO Wang Xing flagged heightened competition in China's instant retail market. Singapore's Straits Times index was flat, while Australia's ASX 200 rose 0.1%. BHP Group Ltd (ASX:BHP) rose 1.5% after a report said the miner was in talks to sell some of its Brazilian copper and gold assets to Nexa Group. Gift Nifty 50 Futures for India's Nifty 50 index fell marginally, pointing to a flat open for the index after it surged back above the 25,000 level on Monday. Related articles Asia stocks muted amid trade caution; Japan dips on BOJ rate hike comments US stock futures jump as Trump delays 50% tariffs against the EU China auto stocks take a hit as BYD, Geely offer fresh incentives
Washington Post
23-05-2025
- Business
- Washington Post
Asian stocks rise and oil prices slip after Treasury yields ease
HONG KONG — Asian stocks rose early Friday as U.S. Treasury yields eased after a rocky week due to worries in the bond market over mounting U.S. government debt. The yield of the 10-year Treasury shed 0.6% to 4.52% while the two-year yield, which more closely tracks expectations for action by the Federal Reserve, slipped 0.4% to 3.98%.
Yahoo
23-05-2025
- Business
- Yahoo
Asian stocks rise and oil prices slip after Treasury yields ease
HONG KONG (AP) — Asian stocks rose early Friday as U.S. Treasury yields eased after a rocky week due to worries in the bond market over mounting U.S. government debt. The yield of the 10-year Treasury shed 0.6% to 4.52% while the two-year yield, which more closely tracks expectations for action by the Federal Reserve, slipped 0.4% to 3.98%. Oil prices dropped on expectations that the OPEC+ group of oil exporters may decide on another increase in output at their next meeting. U.S. benchmark crude oil dropped 51 cents to $60.69 per barrel while Brent crude, the international standard, gave up 51 cents to $63.93 per barrel. In share trading, Tokyo's Nikkei 225 gained 0.8% to 37,289.60 after the government reported a core inflation rate of 3.5% in April, the highest since early 2023. The surge in prices has increased the likelihood that the Bank of Japan might raise its benchmark interest rate at its next policy meeting, analysts said. But pressures and uncertainty from U.S. President Donald Trump's tariff hikes will limit what the BOJ can do, given recent signs of weakness in the economy, Min Joo Kang of ING Economics said in a report. He added that 'with US tariffs likely to impact manufacturing and exports negatively throughout this year, the BOJ's policy changes are likely to be gradual.' Hong Kong's Hang Seng picked up 0.4% to 23,627.99 while the Shanghai Composite Index added 1% to 3,382.12. Seoul's Kospi climbed 0.2% to 2,597.49 and the S&P/ASX 200 in Australia gained 0.4% to 8,379.10. On Thursday, stocks drifted to a mixed close on Wall Street. The S&P 500 slipped less than 0.1%, to close at 5,842.01. The Dow Jones Industrial Average fell 1.35 points to 41,859.09. The Nasdaq composite rose 0.3% to 18,925.73. Technology stocks did most of the heavy lifting for the broader market. The majority of stocks within the S&P 500 lost ground, but gains for technology companies with outsized values offset those losses. Google's parent Alphabet jumped 1.4% and Nvidia rose 0.8%. Treasury yields held a bit steadier in the bond market after the House of Representatives approved a bill that would cut taxes and could add trillions of dollars to the U.S. debt. The House's multitrillion-dollar spending bill, which aims to extend some $4.5 trillion in tax breaks from President Donald Trump's first term while adding others, is expected to be amended when it gets to the Senate for a vote. The legislation also includes a speedier rollback of production tax credits for clean electricity projects, which sent shares of solar companies tumbling. Sunrun dropped 37.1%, Enphase Energy fell 19.6% and First Solar slid 4.3%. Health care stocks also fell Thursday after the Centers for Medicare & Medicaid Services said it was immediately expanding its auditing of Medicare Advantage plans. UnitedHealth Group fell 2.1% and Humana lost 7.6%. In economic updates, the number of Americans filing unemployment claims last week fell slightly. The broader employment market has remained strong, though businesses remain worried about the economic uncertainty amid a trade war. The market had briefly turned higher earlier in the day following a better-than-expected report on manufacturing and services in the U.S. The survey from S&P Global showed growth for both areas in May following a sluggish April. The report also reflected the impact of the trade war on supply chains, prices and concerns about the economic picture moving forward. New orders from businesses were a big driver of improvement, but much of that was from businesses trying to get ahead of a potentially hefty round of tariffs that could hit the economy in July. The overall rise in prices charged for goods and services in May was the steepest since August 2022, according to the S&P Global report. In other dealings early Friday, the U.S. dollar slipped to 143.45 Japanese yen from 144.01 yen. The euro rose to $1.1319 from $1.1279. ___ AP Business Writer Damian J. Troise contributed. Jiang Junzhe, The Associated Press
Associated Press
23-05-2025
- Business
- Associated Press
Asian stocks rise and oil prices slip after Treasury yields ease
HONG KONG (AP) — Asian stocks rose early Friday as U.S. Treasury yields eased after a rocky week due to worries in the bond market over mounting U.S. government debt. The yield of the 10-year Treasury shed 0.6% to 4.52% while the two-year yield, which more closely tracks expectations for action by the Federal Reserve, slipped 0.4% to 3.98%. Oil prices dropped on expectations that the OPEC+ group of oil exporters may decide on another increase in output at their next meeting. U.S. benchmark crude oil dropped 51 cents to $60.69 per barrel while Brent crude, the international standard, gave up 51 cents to $63.93 per barrel. In share trading, Tokyo's Nikkei 225 gained 0.8% to 37,289.60 after the government reported a core inflation rate of 3.5% in April, the highest since early 2023. The surge in prices has increased the likelihood that the Bank of Japan might raise its benchmark interest rate at its next policy meeting, analysts said. But pressures and uncertainty from U.S. President Donald Trump's tariff hikes will limit what the BOJ can do, given recent signs of weakness in the economy, Min Joo Kang of ING Economics said in a report. He added that 'with US tariffs likely to impact manufacturing and exports negatively throughout this year, the BOJ's policy changes are likely to be gradual.' Hong Kong's Hang Seng picked up 0.4% to 23,627.99 while the Shanghai Composite Index added 1% to 3,382.12. Seoul's Kospi climbed 0.2% to 2,597.49 and the S&P/ASX 200 in Australia gained 0.4% to 8,379.10. On Thursday, stocks drifted to a mixed close on Wall Street. The S&P 500 slipped less than 0.1%, to close at 5,842.01. The Dow Jones Industrial Average fell 1.35 points to 41,859.09. The Nasdaq composite rose 0.3% to 18,925.73. Technology stocks did most of the heavy lifting for the broader market. The majority of stocks within the S&P 500 lost ground, but gains for technology companies with outsized values offset those losses. Google's parent Alphabet jumped 1.4% and Nvidia rose 0.8%. Treasury yields held a bit steadier in the bond market after the House of Representatives approved a bill that would cut taxes and could add trillions of dollars to the U.S. debt. The House's multitrillion-dollar spending bill, which aims to extend some $4.5 trillion in tax breaks from President Donald Trump's first term while adding others, is expected to be amended when it gets to the Senate for a vote. The legislation also includes a speedier rollback of production tax credits for clean electricity projects, which sent shares of solar companies tumbling. Sunrun dropped 37.1%, Enphase Energy fell 19.6% and First Solar slid 4.3%. Health care stocks also fell Thursday after the Centers for Medicare & Medicaid Services said it was immediately expanding its auditing of Medicare Advantage plans. UnitedHealth Group fell 2.1% and Humana lost 7.6%. In economic updates, the number of Americans filing unemployment claims last week fell slightly. The broader employment market has remained strong, though businesses remain worried about the economic uncertainty amid a trade war. The market had briefly turned higher earlier in the day following a better-than-expected report on manufacturing and services in the U.S. The survey from S&P Global showed growth for both areas in May following a sluggish April. The report also reflected the impact of the trade war on supply chains, prices and concerns about the economic picture moving forward. New orders from businesses were a big driver of improvement, but much of that was from businesses trying to get ahead of a potentially hefty round of tariffs that could hit the economy in July. The overall rise in prices charged for goods and services in May was the steepest since August 2022, according to the S&P Global report. In other dealings early Friday, the U.S. dollar slipped to 143.45 Japanese yen from 144.01 yen. The euro rose to $1.1319 from $1.1279. ___ AP Business Writer Damian J. Troise contributed.
