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CTV News
a day ago
- Business
- CTV News
World shares rise, buoyed by hopes for more trade deal after the U.S.-Japan tariff pact
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, July 24, 2025. (AP Photo/Ahn Young-joon) MANILA, Philippines — World shares rose Thursday, buoyed by optimism that the U.S.-Japan tariff agreement announced a day earlier will be followed by more trade deals. Later Thursday, the European Central Bank was expected to hold off on making another interest rate cut as it waits to measure the size of any economic blow from higher U.S. tariffs. U.S. President Donald Trump has sent the EU a letter laying out a 30% tariff rate, but European trade officials are hoping to haggle that down to as low as 10%. Separately, European leaders called for concrete progress in addressing the bloc's yawning trade deficit with China at a summit with President Xi Jinping in the Chinese capital on Thursday. In early European trading, Germany's DAX rose 0.8% to 24,430.74. In Paris, the CAC 40 added 0.2% to 7,862.52, while Britain's FTSE 100 climbed 1% to 9,150.50. The future for S&P 500 added less than 0.1% while that for the Dow Jones Industrial Average was down 0.3%. Trump has proposed stiff taxes on imports from around the world, which carry the double-edged risk of driving up inflation while slowing economies. But many of his tariffs are on pause, giving time to reach deals with other countries that could lower the tax rates. Trump also announced trade agreements with the Philippines and Indonesia this week. Japan's Nikkei 225 surged 1.6% to 41,826.34. It had jumped 3.5% a day earlier on enthusiasm over the trade deal with Washington, which would raise U.S. import duties on most exports from Japan to 15% from 2.5%, instead of the 25% Trump had threatened to impose. The Shanghai Composite Index added 0.7% to 3,605.73, while Hong Kong's Hang Seng index rose 0.5% to 25,667.18. South Korea's Kospi added 0.2% to 3,190.45, shedding some of its earlier gains, after central bank data showed Thursday that the country's economy expanded at a 0.6% annual rate in the last quarter, above expectations thanks to robust private consumption and exports. Australia's S&P ASX 200 slid 0.3% to 8,709.40. Taiwan's Taiex gained 0.2% while India's BSE Sensex shed 0.7%. 'Asian equities caught another updraft, rising for a sixth straight session, as whispers of broader trade accords scattered across the tape like migrating birds sensing the storm has passed,' Stephen Innes of SPI Asset Management wrote in a commentary. 'With the ink barely dry on the U.S.-Japan tariff truce — inked at a palatable 15% — traders are already scanning the horizon for the next deal to surface. Europe? Maybe. India? China? Everyone? Perhaps. But the mood is pure Electric Avenue,' he added. The Nomura Group, in a research report, said the tariff rates set by the U.S. for Indonesia and the Philippines, at 19%, 'are fairly high and therefore pose downside risks to their respective growth outlooks.' It estimated the direct effects could reduce GDP growth by 0.2 percentage point in Indonesia and 0.4 percentage point in the Philippines. Still, most markets across the region advanced. On Wednesday, U.S. stocks set more records following a trade deal between the world's No. 1 and No. 4 economies, one that would lower proposed tariffs on Japanese imports coming to the United States. The S&P 500 added 0.8% to its all-time high. The Dow Jones Industrial Average rallied 507 points, or 1.1%, and the Nasdaq composite climbed 0.6% to hit its own record. So far, the U.S. economy has seemed to hold up OK despite the pressures on it. And tariffs already in place may be having less of an effect than expected, at least when it comes to the prices that U.S. households are paying at the moment. In other dealings on Thursday, U.S. benchmark crude oil added 90 cents to US$66.15 per barrel. Brent crude, the international standard, rose 84 cents to $69.35 per barrel. The U.S. dollar climbed to 146.60 Japanese yen from 146.51 yen. The euro slid to $1.1751 from $1.1777. Teresa Cerojano, The Associated Press
Asahi Shimbun
2 days ago
- Business
- Asahi Shimbun
Asian markets gain, with Japan's Nikkei up 3.5%, lifted by deal on Trump's tariffs
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, July 23, 2025. (AP Photo) Asian shares rallied on Wednesday, with Tokyo's benchmark Nikkei 225 index up 3.5% after Japan and the U.S. announced a deal on President Donald Trump's tariffs. The agreement as announced calls for a 15% import duty on goods imported from Japan, apart from certain products such as steel and aluminum that are subject to much higher tariffs. That's down from the 25% Trump had said would kick in on Aug. 1 if a deal was not reached. 'This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,' Trump posted on Truth Social, noting that Japan was also investing 'at my direction' $550 billion into the U.S. He said Japan would 'open' its economy to American autos and rice. Japan's benchmark Nikkei 225 gained 3.5% in afternoon trading to 41,171.32. Hong Kong's Hang Seng jumped 1.4% to 25,470.25, while the Shanghai Composite index was little changed, gaining less than 0.1% to 3,582.30. Australia's S&P/ASX 200 edged up 0.7% to 8,737.20 and the Kospi in South Korea edged 0.4% higher to 3,183.77. 'President Trump has signed two trade deals this week with the Philippines and Japan which is likely to keep market sentiment propped up despite deals with the likes of the EU and South Korea remaining elusive, for now at least,' Tim Waterer, chief market analyst at Kohle Capital Markets, said in a report. There was a chorus of no comments from the Japanese automakers, despite the latest announcement, including Toyota Motor Corp., Honda Motor Co and Nissan Motor Corp. Japanese companies tend to be cautious about their public reactions, and some business officials have privately remarked in off-record comments that they hesitate to say anything because Trump keeps changing his mind. The Japan Automobile Manufacturers' Association also said it had no comment, noting there was no official statement yet. Japan's Prime Minister Shigeru Ishiba welcomed the agreement as beneficial to both sides. Toyota stock jumped 14% in Tokyo trading, while Honda was up nearly 11% and Nissan added 8%. In other sectors, Nippon Steel, which is acquiring U.S. Steel, rose 2.4% while video game maker and significant exporter Nintendo Co. added 0.7%. Sony Group surged 4.6%. Wall Street inched to another record on Tuesday following some mixed profit reports, as General Motors and other big U.S. companies gave updates on how much Trump's tariffs are hurting or helping them. The S&P 500 added 0.1% to the all-time high it had set the day before, closing at 6,309.62. The Dow Jones Industrial Average rose 0.4% to 44,502.44. The Nasdaq composite slipped 0.4% from its own record, to 20,892.68. So far, the U.S. economy seems to be powering through the uncertainty created by Trump's on-and-off tariffs. Many of Trump's proposed taxes on imports are currently on pause, and the next big deadline is Aug. 1. Talks are underway on possible trade deals with other countries that could lower the stiff proposals before they kick in. Trump said he reached a trade agreement with the Philippines following a meeting Tuesday at the White House, that will see the U.S. slightly drop its tariff rate for the Philippines without paying import taxes for what it sells there. In the bond market, Treasury yields sank as traders continue to expect the Federal Reserve to wait until September at the earliest to resume cutting interest rates. The yield on the 10-year Treasury eased to 4.34% from 4.38% late Monday. In other dealings early Wednesday, U.S. benchmark crude oil gained 15 cents to $65.46 a barrel. Brent crude, the international standard added 16 cents to $68.74 a barrel. In currency trading, the U.S. dollar rose to 146.78 Japanese yen from 146.64 yen. The euro cost $1.1740, down from $1.1754.
CTV News
4 days ago
- Business
- CTV News
World shares mostly gain after Wall Street logs a 3rd straight winning week
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, July 21, 2025. (AP Photo/Ahn Young-joon) BANGKOK — Shares are mostly higher in key markets in Europe and Asia after U.S. stocks logged their third straight winning week. Markets were closed for a holiday in Japan, where the ruling Liberal Democrats have lost their coalition majorities in both houses of parliament for the first time since 1955 following Sunday's upper house election and the loss of their lower house majority in October. Germany's DAX edged less than 0.1% higher to 24,229.41, while the CAC 40 in Paris slipped 0.2% to 7,804.80. Britain's FTSE 100 inched up less than 0.1% to 8,999.29. The futures for the S&P 500 and the Dow Jones Industrial Average were 0.3% higher. In Japan, a grim Prime Minister Shigeru Ishiba has vowed to stay on after the drubbing by voters frustrated over rising prices and political instability. Analysts said they expect his weakened government to crank up spending, adding to Japan's huge debt burden. Japan is also facing the imposition of 25% tariffs across the board on its exports to the U.S. as talks with the Trump administration appear to have made little headway. 'We expect short-term political instability to intensify due to the difficulties of forming a majority coalition, a likely change in leadership, and a potential deadlock in trade negotiations,' Peter Hoflich of BMI, a part of the Fitch Group, said in a commentary. 'Without a structural reset through snap elections, Japan is likely to face prolonged policy drift throughout 2026,' he said. Chinese shares advanced after the central bank kept its key 1-year and 5-year loan prime interest rates unchanged. Hong Kong's Hang Seng rose 0.7% to 24,994.14, while the Shanghai Composite index gained 0.7% to 3,559.79. Recent improved economic data have eased pressure on the Chinese leadership to soften credit. Meanwhile, President Donald Trump's administration has softened its criticism of Beijing, raising hopes that the two sides can work out a trade deal and avert the imposition of sharply higher tariffs on imports from China. South Korea's Kospi picked up 0.7% to 3,210.81 after the government reported a slight improvement in exports in June. In Australia, the S&P/ASX 200 shed 1% to 8,668.20, while Taiwan's Taiex dropped 0.2%. In India, the Sensex rose 0.3%. Bangkok's SET gained 0.2%. This week will bring updates on U.S. home sales, jobless claims and manufacturing. Several Big Tech companies including Alphabet and Tesla are due to provide earnings reports. On Friday, the S&P 500 handed back less than 1 point after setting an all-time high the day before. The Dow Jones Industrial Average fell 0.3% and the Nasdaq composite edged up by less than 0.1% to add its own record. The heaviest weight on the market was Netflix, which fell 5.1% despite reporting a stronger-than-expected profit. Exxon Mobil sank 3.5% and also tugged on the market. It had been challenging Chevron's $53 billion deal to buy Hess, but an arbitration ruling in Paris about Hess assets off Guyana's coast allowed the buyout to go through. Chevron fell 0.9% after losing an early gain. Treasury yields eased after a report suggested U.S. consumers may be feeling less fearful about coming inflation. They're bracing for inflation of 4.4% in the year ahead, down from last month's projection of 5%, according to preliminary results from a University of Michigan survey. Prices may already be starting to feel the upward effects of President Donald Trump' s higher tariffs, according to data released last week. The Trump administration is preparing to impose steeper import duties on many countries as of Aug. 1, although some have worked out deals to mitigate some of the damage. In other trading early Monday, U.S. benchmark crude oil reversed gains, shedding 32 cents to $65.73 per barrel. Brent crude, the international standard, lost 37 cents to $68.91 per barrel. The U.S. dollar fell to 147.88 Japanese yen from 147.98 yen. The euro climbed to $1.1645 from $1.1629. Elaine Kurtenbach, The Associated Press
CTV News
18-07-2025
- Business
- CTV News
Asian shares mostly advance after Wall Street cruises to more records
Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, July 18, 2025. (AP Photo/Ahn Young-joon) MANILA, Philippines — Asian shares were mostly higher on Friday after Wall Street rose to records following better-than-expected updates on the economy and a mixed set of profit reports from big U.S. companies. Japan's Nikkei 225 edged 0.2% lower to 39,819.11 as traders stayed on the sidelines ahead of an election for the upper house of parliament on Sunday that could wipe out the ruling coalition's upper house majority. The government reported that core inflation excluding volatile food and energy prices rose to 3.3% in June from a year earlier, slowing from 3.7% in May but still above the central bank's 2% target. Hong Kong's Hang Seng index added 1.3% to 24,805.74, while the Shanghai Composite index advanced 0.3% to 3,534.48. Taiwan's Taiex climbed 1.2%, helped by a 2.2% gain for Taiwan Semiconductor Manufacturing Co. On Thursday, TSMC reported its net income soared nearly 61% in the last quarter from a year earlier. The world's largest contract chip maker said it's seeing strong demand from artificial-intelligence and other customers. On Thursday, TSMC's stock that trades in the United States rose 3.4%. Australia's S&P/ASX 200 rose 1.4% to 8,757.20, and the Kospi in South Korea shed 0.1% to 3,188.07. India's Sensex lost 0.7%. 'Asia's riding the global rally wave, AI fever refuses to break, and even the Fed is making soothing noises,' Stephen Innes of SPI Asset Management wrote in a commentary. 'But underneath all the sunshine is a market running hot, with volatility on sale and positioning still cautious.' On Thursday, the S&P 500 climbed 0.5% to top its all-time high set a week ago, closing at 6,297.36. The Dow Jones Industrial Average rose 0.5% to 44,484.49, and the Nasdaq composite added 0.7% to its own record set the day before, climbing to 20,885.65. Trading was calmer than on Wednesday, when President Donald Trump rocked financial markets by saying he had discussed the 'concept' of firing the chair of the Federal Reserve, though he said he was unlikely to do so. Such a move could help Wall Street get the lower interest rates investors love, but would also risk a weakened Fed unable to make the unpopular moves needed to keep inflation under control. Apart from TSMC, other stocks involved in AI also climbed. A 1% gain for Nvidia was one of the strongest forces pushing upward on the S&P 500. PepsiCo jumped 7.5% after delivering revenue and profit that topped Wall Street's expectations. Treasury yields were mixed following several better-than-expected reports on the economy. One said that shoppers upped their spending at U.S. retailers by more last month than economists expected. Such spending, along with a relatively solid jobs market, has helped keep the U.S. economy out of a recession. A separate report said that fewer U.S. workers applied for unemployment benefits last week, which could be a signal of limited layoffs. A third suggested unexpectedly strong growth in manufacturing in the mid-Atlantic region. Such solid data could keep the Federal Reserve on pause when it comes to interest rates. The Fed has been keeping rates steady this year, after cutting them at the end of last year. The Fed's chair, Jerome Powell, has been insisting that he wants to wait for more data about how Trump's tariffs will affect the economy and inflation before the Fed makes its next move. That's because while lower interest rates could boost the economy and prices for investments, they would also give inflation more fuel. Prices may already be starting to feel the upward effects of tariffs, based on the latest data. In other dealings on Friday, U.S. benchmark crude oil rose 55 cents to $66.78 per barrel. Brent crude, the international standard, also was up 58 cents, at $70.10 per barrel. The U.S. dollar edged slightly higher to 148.70 Japanese yen from 148.61 yen. The euro rose to $1.1631 from $1.1596. Teresa Cerojano, The Associated Press
CTV News
16-07-2025
- Business
- CTV News
World shares are mixed after U.S. inflation update suggests tariffs are causing prices to rise
A currency trader works near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Tuesday, July 15, 2025. (AP Photo/Ahn Young-joon) BANGKOK — Shares were mixed Wednesday in Europe and Asia after an update on U.S. inflation pulled most Wall Street stocks lower, though gains for Nvidia pushed the Nasdaq to another record. The report showed inflation in the United States accelerated to 2.7% last month from 2.4% in May. Economists said higher prices for clothes, toys and other goods that usually are imported suggest stiffer tariffs that President Donald Trump has imposed on other countries are fueling inflation. Germany's DAX edged 0.1% higher to 24,074.54, while the CAC 40 in Paris shed 0.1% to 7,755.90. Britain's FTSE 100 was up 0.1% at 8,950.11. The future for the S&P 500 fell less than 0.1% while that for the Dow industrials was little changed. In Asian trading, tokyo's Nikkei 225 edged less than 0.1% lower, to 39,663.40. Investors are focusing on the potential impact of an election for the Upper House of Parliament on Sunday that is expected to lead to tax cuts and higher spending as lawmakers try to restore the waning popularity of the ruling Liberal Democrats. Worries over a deterioration in Japan's fiscal health have pushed yields of long-term Japanese government bonds to their highest levels in years. 'What's at stake isn't simply which party hands out the biggest bundle of goodies. It's whether the walls holding up Japan's house of debt can withstand another round of fiscal fireworks…' Stephen Innes of SPI Asset Management said in a commentary. Elsewhere in Asia, Hong Kong's Hang Seng shed 0.3% to 24,517.76, while the Shanghai Composite index slipped less than 0.1% to 3,503.78. South Korea's Kospi lost 0.9% to 3,186.38 and in Australia, the S&P/ASX 200 declined 0.8% to 8,561.80. Taiwan's Taiex jumped 0.9% and India's Sensex added 0.2%. Thailand's SET dropped 0.3%. In Jakarta, shares rose 0.7% after President Donald Trump said on Truth Social that he plans to charge imports from Indonesia a tariff of 19%, while American goods sent to the Southeast Asian country will face no tariffs. Trump also said Indonesia committed to buying U.S. energy, agricultural products and aircraft. On Tuesday, the S&P 500 fell 0.4%, staying near its all-time high set last week. The Dow Jones Industrial Average dropped 1%, while the Nasdaq composite rose 0.2% to a record 20,677.80 thanks to Nvidia, the market's most influential stock. Nvidia said the U.S. government has assured it that licenses will be granted for its H20 chip, used for artificial intelligence, again and that deliveries will hopefully begin soon. Its 4% gain was by far the strongest force pushing upward on the S&P 500. Wall Street loves lower interest rates because they goose prices higher for stocks and other investments, and Trump himself has been clamoring for the Federal Reserve to cut rates more quickly. But the Fed has been keeping interest rates on hold this year since lower rates can give inflation more fuel while they boost the economy. Fed Chair Jerome Powell has insisted he wants to see more data about how tariffs affect the economy and inflation. In other dealings early Wednesday, U.S. benchmark crude oil shed 21 cents to $66.31 per barrel. Brent crude, the international standard, slipped 31 cents at $68.40 per barrel. The dollar fell to 148.79 Japanese yen from 148.87 yen. The euro was at $1.1630, up from $1.1602. Elaine Kurtenbach, The Associated Press
