Latest news with #ScharfInvestments
Bloomberg
13-05-2025
- Business
- Bloomberg
Bloomberg Daybreak Asia: US-China Trade Truce Sends Global Stocks Higher
Asian stocks followed gains in US equities on optimism the US-China trade truce marks the end to an all-out tariff war. Shares in Australia and Japan jumped at the open after the S&P 500 closed more than 3% higher. Japan's Topix gained for a 13th day, putting it on track for it longest winning streak in 16 years. A gauge of US-listed Chinese stocks surged 5.4% on Monday in its best session in over two months. The dollar was little changed in Asia after jumping Monday. The return of risk appetite came as trade negotiators from the world's two biggest economies announced Monday a massive de-escalation in tariffs. In a carefully coordinated joint statement, the US slashed duties on Chinese products to 30% from 145% for a 90-day period, while Beijing dropped its levy on most goods to 10%. We get reaction from Brian Krawez, President and Lead Portfolio Manager at Scharf Investments. Plus - stocks in Pakistan and India rallied Monday as a ceasefire agreement between the two nuclear-armed neighbors calmed markets that had been shaken by military clashes on their border. Pakistan's stock benchmark KSE-30 Index closed 9.3% higher, the most since 2008, in a rally that triggered an hour-long trading halt. The NSE Nifty 50 Index rose 3.8% in Mumbai, as both nations stepped back from the brink of war, allowing market participants to turn their focus back to the economic outlook for the South Asian nations. We take a closer look at the outlook for Indian equities with Peeyush Mittal, Senior Equity Research Analyst at Matthews Asia.
Reuters
12-05-2025
- Business
- Reuters
Sectors Up Close: Recession 'still a likely outcome' despite China deal
U.S. stocks saw a relieved rally on Monday after the U.S. and China announced a deal to lower tariffs - especially retailers like Walmart and Target who rely on Chinese suppliers. Brian Krawez of Scharf Investments pointed out that companies are still contending with much higher tariffs than before, though. He told Reuters 'much of the damage has already been done.'
Reuters
06-05-2025
- Automotive
- Reuters
Sectors Up Close: Tariffs 'have put a giant hole' in US carmaker profits
Ford has become the latest U.S. carmaker to pull its 2025 guidance, saying tariffs could cost the company $1.5 billion. Eric Lynch of Scharf Investments told Reuters that carmakers' international supply chains mean they can't move production to the U.S. overnight, and they will likely be forced to pass higher prices on to customers.
