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The Star
27-05-2025
- Business
- The Star
Asian shares start cautiously, dollar edges down
NEW YORK: Asian shares had a cautious open Tuesday (May 27) as investors awaited fresh trade news that may define the appetite for US assets. The MSCI Asia Pacific Index opened flat with marginal declines in Japan and South Korea. The dollar edged down in early Asian trade with a gauge of the greenback's strength hovering near its lowest level in almost two years on weak demand for US assets. The yield on the ten-year US Treasury fell two basis points while yields on Japan's 40-year sovereign slumped ahead of a bond auction. Contracts for the S&P 500 and Nasdaq 100 jumped over one per cent, holding their gains from a Monday holiday, after the European Union agreed to accelerate trade negotiations with the US. Tariff headlines are once again dominating the market and investors are closely watching how President Donald Trump's administration is dealing with Japan and India after talks with China earlier this month boosted optimism. Trade tensions and concerns of US fiscal position has weakened demand for US assets and are showing up the most in the dollar. "Any further tariff news could inject more volatility into currency markets and pull the dollar down,' Kristina Clifton, a senior economist and currency strategist at Commonwealth Bank of Australia wrote in note. Bloomberg's dollar spot index was track for its lowest close since July 2023, while the greenback is at or approaching key levels against a host of currencies including the euro, British pound, yen and Swiss franc. In Japan, yields on Japanese super-long bonds fell ahead of an auction Wednesday that is expected to test demand following a recent sale that sent jitters through global markets. Yields on 40-year and 30-year maturities slid ten basis points in Tokyo on Tuesday, adding to drops in recent days. These moves followed sharp gains in yields to record highs last week. Elsewhere, China's central bank asked its major lenders to raise the share of yuan when facilitating cross-border trade, in its latest push for the use of the currency as the world grapples with the onslaught of tariffs by the US. Trump's plan to bring more factories back to the US has President Xi Jinping's government also considering options to boost production of high-end technological goods. There will be close attention on the nation's electric vehicle sector, after BYD Co. introduced sweeping price cuts. Shares of China's No. 1 selling car brand tumbled 8.6 per cent in Hong Kong on Monday, sending shares of peers Li Auto Inc., Great Wall Motor Co. and Geely Automobile Holdings Ltd. also down amid investor concern about intensifying competition in the sector. A key event this week will be Nvidia Corp.'s results on Wednesday. The chip-making giant is seen as a bellwether for so called growth stocks and the sustainability of the artificial intelligence boom. Its outlook will be crucial given macro risks and tariff uncertainty. Investors are also gearing up for the Federal Reserve's preferred inflation measure, the US personal consumption expenditures price index excluding food and energy, which will be released Friday. The April reading is forecast to rise 0.1 per cent based on consensus expectations. In commodities, oil slipped on Tuesday after fluctuating in the previous session as the market weighed easing trade tensions against the outlook for rising OPEC+ supply. Gold traded steady. - Bloomberg
Time of India
27-05-2025
- Business
- Time of India
Asian shares start cautiously, dollar edges down
Asian shares had a cautious open Tuesday as investors awaited fresh trade news that may define the appetite for US assets . The MSCI Asia Pacific Index opened flat with marginal declines in Japan and South Korea. The dollar edged down in early Asian trade with a gauge of the greenback's strength hovering near its lowest level in almost two years on weak demand for US assets. The yield on the 10-year US Treasury fell two basis points while yields on Japan's 40-year sovereign slumped ahead of a bond auction. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Girls Show Their Perfect Figure In These Sport Photos Take At Perfect Time True Edition Undo Contracts for the S&P 500 and Nasdaq 100 jumped over 1%, holding their gains from a Monday holiday, after the European Union agreed to accelerate trade negotiations with the US. Markets were closed in the US for a holiday Monday. Tariff headlines are once again dominating the market and investors are closely watching how President Donald Trump's administration is dealing with Japan and India after talks with China earlier this month boosted optimism. Trade tensions and concerns of US fiscal position has weakened demand for US assets and are showing up the most in the dollar. 'Any further tariff news could inject more volatility into currency markets and pull the dollar down,' Kristina Clifton, a senior economist and currency strategist at Commonwealth Bank of Australia wrote in note. Live Events Bloomberg's dollar spot index was track for its lowest close since July 2023, while the greenback is at or approaching key levels against a host of currencies including the euro, British pound, yen and Swiss franc. In Japan, yields on Japanese super-long bonds fell ahead of an auction Wednesday that is expected to test demand following a recent sale that sent jitters through global markets. Yields on 40-year and 30-year maturities slid 10 basis points in Tokyo on Tuesday, adding to drops in recent days. These moves followed sharp gains in yields to record highs last week. Elsewhere, China's central bank asked its major lenders to raise the share of yuan when facilitating cross-border trade, in its latest push for the use of the currency as the world grapples with the onslaught of tariffs by the US. Trump's plan to bring more factories back to the US has President Xi Jinping's government also considering options to boost production of high-end technological goods. There will be close attention on the nation's electric vehicle sector, after BYD Co. introduced sweeping price cuts. Shares of China's No. 1 selling car brand tumbled 8.6% in Hong Kong on Monday, sending shares of peers Li Auto Inc., Great Wall Motor Co. and Geely Automobile Holdings Ltd. also down amid investor concern about intensifying competition in the sector. A key event this week will be Nvidia Corp. 's results on Wednesday. The chip-making giant is seen as a bellwether for so called growth stocks and the sustainability of the artificial intelligence boom. Its outlook will be crucial given macro risks and tariff uncertainty. Investors are also gearing up for the Federal Reserve's preferred inflation measure, the US personal consumption expenditures price index excluding food and energy, which will be released Friday. The April reading is forecast to rise 0.1% based on consensus expectations. In commodities, oil slipped on Tuesday after fluctuating in the previous session as the market weighed easing trade tensions against the outlook for rising OPEC+ supply. Gold traded steady.
Time of India
02-05-2025
- Business
- Time of India
Asian stocks edge up, US futures erase losses on China trade talks
Asian stocks edged up and US equity-index futures erased losses Friday after China said it's evaluating possible trade talks with the US. The MSCI Asia Pacific Index gained 0.1% after China's Ministry of Commerce said it's evaluating negotiations. Japanese shares gained 1.1% on positive comments from Japan's chief trade negotiator. Futures contracts for the S&P 500 reversed earlier losses to gain 0.2%. News of trade talks between China and the US helped reverse weak sentiments after disappointing results from Apple Inc. and Amazon Inc. had hurt sentiments early Friday. Strong tech earnings had largely driven optimism on Wall Street along with expectations that trade deals will offer many countries a reprieve from the highest tariffs unveiled April 2. Traders will turn their attention to the US jobs report that releases Friday, the last piece of significant data this week. 'Results from Amazon and Apple are a bit of a damper on the markets,' wrote Kyle Rodda, senior market analyst at 'The final hurdle for the week is the non-farm payroll data.' Apple shares slipped in late US trading after it reported sales from China declined more than anticipated in the latest quarter, overshadowing otherwise solid results. Meanwhile, Amazon gave an operating income forecast that missed expectations when markets closed, pushing shares lower in post-market trading. Live Events Microsoft Corp. and Meta Platforms Inc. jumped on upbeat earnings, while a report of the US weighing a potential easing of restrictions on Nvidia Corp.'s sales to the United Arab Emirates pushed the chip-maker's shares higher during Thursday's session. A dollar index climbed Thursday on reports that President Donald Trump's administration reached out to China to start tariff talks. In Asia, the yen slipped against the dollar as the Bank of Japan said it will take longer than it previously thought to hit the inflation target, leading traders to pare bets on further interest-rate hikes. Meanwhile, Japan's Finance Minister Katsunobu Kato said that the country's US Treasury holdings could be a card in its trade negotiations with the US, in response to a question asking whether Japan's stance of not easily selling the holdings could be seen as a negotiation tool. 'It does exist as a card,' said Kato, speaking on a TV Tokyo program Friday, when asked if Japan's stance of not selling holdings could be a negotiation tool. 'Whether or not we use that card is a different decision.' In commodities, gold dropped to a two-week low while crude oil fell 0.7%.
Economic Times
02-05-2025
- Business
- Economic Times
Asian stocks edge up, US futures erase losses on China trade talks
Asian stocks edged up and US equity-index futures erased losses Friday after China said it's evaluating possible trade talks with the US. ADVERTISEMENT The MSCI Asia Pacific Index gained 0.1% after China's Ministry of Commerce said it's evaluating negotiations. Japanese shares gained 1.1% on positive comments from Japan's chief trade negotiator. Futures contracts for the S&P 500 reversed earlier losses to gain 0.2%. News of trade talks between China and the US helped reverse weak sentiments after disappointing results from Apple Inc. and Amazon Inc. had hurt sentiments early Friday. Strong tech earnings had largely driven optimism on Wall Street along with expectations that trade deals will offer many countries a reprieve from the highest tariffs unveiled April 2. Traders will turn their attention to the US jobs report that releases Friday, the last piece of significant data this week. 'Results from Amazon and Apple are a bit of a damper on the markets,' wrote Kyle Rodda, senior market analyst at 'The final hurdle for the week is the non-farm payroll data.'Apple shares slipped in late US trading after it reported sales from China declined more than anticipated in the latest quarter, overshadowing otherwise solid results. Meanwhile, Amazon gave an operating income forecast that missed expectations when markets closed, pushing shares lower in post-market trading. Microsoft Corp. and Meta Platforms Inc. jumped on upbeat earnings, while a report of the US weighing a potential easing of restrictions on Nvidia Corp.'s sales to the United Arab Emirates pushed the chip-maker's shares higher during Thursday's session. ADVERTISEMENT A dollar index climbed Thursday on reports that President Donald Trump's administration reached out to China to start tariff Asia, the yen slipped against the dollar as the Bank of Japan said it will take longer than it previously thought to hit the inflation target, leading traders to pare bets on further interest-rate hikes. ADVERTISEMENT Meanwhile, Japan's Finance Minister Katsunobu Kato said that the country's US Treasury holdings could be a card in its trade negotiations with the US, in response to a question asking whether Japan's stance of not easily selling the holdings could be seen as a negotiation tool.'It does exist as a card,' said Kato, speaking on a TV Tokyo program Friday, when asked if Japan's stance of not selling holdings could be a negotiation tool. 'Whether or not we use that card is a different decision.' ADVERTISEMENT In commodities, gold dropped to a two-week low while crude oil fell 0.7%. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
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Business Standard
29-04-2025
- Business
- Business Standard
Indian stock market's $489-bn equity rally is winning back global funds
Overseas investors turned net buyers in mid-April, drawn to the nation as a relative haven from tariff uncertainty Bloomberg Global funds' return to Indian equities suggests the likely extension of the recent rally in Asia's top-performing stock market. Overseas investors turned net buyers in mid-April, drawn to the nation as a relative haven from tariff uncertainty. They bought shares for seven straight session through April 24, with inflows reaching $91 million this month, according to data compiled by Bloomberg. On Friday alone, they plowed $345 million into local shares, provisional data show. The foreign inflows fill in what had been a missing piece in the rally that's propelled the Nifty 50 Index over 3 per cent this month, outperforming the MSCI Asia Pacific Index. A rate cut by the central bank and cash injections, which wiped out a monthslong cash deficit, have bolstered investor sentiment. 'Foreigners are coming back as India is perceived to be relatively better placed than other emerging markets due to its faster economic growth despite the trade war,' said Sneha Tulsyan, an investment analyst at Tokio Marine Asset Management International Pte. in Singapore. Expectations of further monetary easing and moderating crude oil prices will continue to drive a 'positive narrative' for India, she said. April's purchases put local equities on track for their second monthly foreign inflow since September, when a $26 billion exodus began that lasted until the end of February. The rebound from this month's low has added $489 billion to India's market value. While expensive valuations have left India's equity market short of ideas for some fund managers, the nation's domestically-driven market and low reliance on exports have lured investors seeking a refuge from the trade war. Many funds are increasing their India exposure, and even previously bearish brokers, like UBS Group AG, are becoming less wary. A key risk for India remains rising tensions with Pakistan after a deadly terror attack in Kashmir last week. For now, investors are looking past it, with the benchmark jumping the most since April 17 on Monday. 'Foreigners will continue to chase India as it offers fantastic opportunity to capture strong demographics, economy and upcoming global supply chains,' said Sumeet Rohra, a fund manager at Smartsun Capital Pte. 'Any dip due to the border tension will be an opportunity to add.'
