Latest news with #Taiex
San Francisco Chronicle
27-05-2025
- Business
- San Francisco Chronicle
Asian shares mostly lower, trading in a narrow range with US markets closed for Memorial Day
Shares were mostly lower in Asia on Tuesday, trading in a narrow range after U.S. markets were closed Monday for the Memorial Day holiday. U.S. futures were and oil prices slipped. Data on consumer confidence and housing prices were due out later on Tuesday. In Tokyo, the Nikkei 225 lost 0.2% to 37,451.60 after the governor of the central bank said he anticipated raising interest rates in coming months due to inflationary pressures. Bank of Japan Gov. Kazuo Ueda said in a speech that Japan was facing pressure from rising food prices, with rice prices doubling in the past year. Inflation in Japan is now higher than in the U.S. or Europe and above the BOJ's target level. But the central bank also has to take into account trade policies, he said without directly mentioning U.S. President Donald Trump's tariff hikes, that complicate its goal of raising its very low benchmark interest rate of 0.5%. 'We are now closer to the target than at any time during the last three decades, though we are not quite there. Our recent path has been affected in a unique way by supply shocks,' Ueda said. Australia's S&P/ASX 200 held steady at 8,359.20 and Taiwan's Taiex lost 0.6%. In other dealings early Tuesday, U.S. benchmark crude oil lost 23 cents to $61.30 per barrel. Brent crude, the international standard, fell 20 cents to $63.92 per barrel. The U.S. dollar fell to 142.23 Japanese yen from 142.85 yen. The euro rose to $1.1403 from $1.1388. The future for the S&P 500 was up 0.9% and that for the Dow Jones Industrial Average advanced 0.8%. On Monday, European shares closed higher and U.S. futures surged after U.S. President Donald Trump said he would delay a threatened 50% tariff on goods from the European Union to July 9. Germany's DAX added 1.5% to 23,977.83 and the CAC 40 in Paris rose 1% to 7,810.49. Markets were closed in Britain for a holiday. The impact on markets from U.S. President Donald Trump's decision to delay a threatened 50% tariff on imports from the European Union was relatively muted as investors are growing inured to such policy changes, Stephen Innes of SPI Asset Management said in a commentary. 'Investors know this act by heart,' Innes wrote. 'The volatility is still there, but like a horror franchise on its fifth sequel, the jump scares are losing their bite. Panic-selling into a Trump pirouette doesn't pay like it used to — markets have seen this dance before.' The European Union's chief trade negotiator said Monday he had 'good calls' with Trump administration officials and that the EU was 'fully committed' to reaching a trade deal by the July 9 deadline. Just last week, Trump had said on social media that trade talks with the European Union 'were going nowhere' and that 'straight 50%' tariffs could go into effect on June 1. The S&P 500 lost 0.7% to end its worst week in the last seven. The Dow dropped 0.6% and the Nasdaq composite sank 1%.
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First Post
20-05-2025
- Business
- First Post
Taiwan's new move to checkmate China: A sovereign wealth fund that will help firms expand globally
Lai is the first Taiwanese president to publicly advocate for a sovereign fund that invests abroad—an idea previously floated by other Asian nations and proposed informally by earlier Taiwanese administrations read more Taiwan President Lai Ching-te has announced plans to establish a sovereign wealth fund aimed at helping Taiwanese companies expand overseas. The initiative is intended to strengthen Taipei's integration with global markets and counter efforts by China to isolate the island. 'In the future, the government will establish a fund to boost Taiwan's economic development momentum,' Lai said in a speech in Taipei on 20 May, marking his first full year in office. He explained that the fund would work by 'fully utilising Taiwan's industrial advantages, with the government taking the lead and cooperating with the power of private enterprises to deploy globally and connect the main target markets.' He did not provide further details. STORY CONTINUES BELOW THIS AD Lai also noted that trade discussions with the United States 'are still ongoing and progressing smoothly.' This follows the Trump administration's imposition of a 32% tariff on Taiwanese exports in April, which was subsequently suspended for 90 days to allow for negotiations. Lai is the first Taiwanese president to publicly advocate for a sovereign fund that invests abroad—an idea previously floated by other Asian nations and proposed informally by earlier Taiwanese administrations. However, Taiwan's central bank has traditionally been cautious about contributing directly to such a fund. Earlier in May, there was a proposal to enact a special law to set up an independent organisation to manage the fund. The model would follow examples from neighbouring Asian countries that finance such initiatives through bond issuances, budget appropriations, or capital injections from their finance ministries. Taipei currently holds foreign exchange reserves of approximately US$582.8 billion (S$755 billion). While Lai did not disclose the fund's proposed sources of capital, Central Bank Governor Yang Chin-long has firmly stated that the institution would not give away its reserves, though it may be open to lending them. He also suggested that fund proponents consider alternative financing options outside of the central bank. As of 1:16 pm on 20 May, Taiwan's benchmark Taiex index rose by 0.1%, and the New Taiwan dollar strengthened slightly to 30.19 against the US dollar. CY Huang, founding chairman of the Taiwan M&A and Private Equity Council, voiced support for the concept of a sovereign wealth fund. He speculated that Lai's timing might have been influenced by US President Donald Trump's recent remarks advocating for a similar American investment fund and that any US investment vehicle may focus on high-tech targets, including Taiwan Semiconductor Manufacturing Co, the archipelago's largest corporation. STORY CONTINUES BELOW THIS AD Trump has said an American fund could be backed by monetising vast government assets and used to back strategic projects in areas like critical minerals or take stakes in companies like TikTok. However, the idea has been made a lower priority after running into legal, financial and political realities. Huang said one challenge Taiwan faces in setting up the fund is that 'Taiwan lacks international investment talent, and for these kinds of strategic global investments, it would be best to establish an international advisory committee'.
15-05-2025
- Business
Asian shares are mostly lower after a mixed session on Wall Street
Asian shares and U.S. futures slipped Thursday after U.S. stocks drifted to a mixed close on Wall Street. Oil prices fell more than $1 a barrel. China moved to reverse some of its 'non-tariff' measures against the U.S. as agreed with Washington in their temporary trade war cease-fire and most markets traded in a narrow range. Japan's Nikkei 225 index dropped 1.1%, however, to 37,705.74. Computer chip-related stocks were among the biggest decliners, with Disco Corp. falling 2.6% and Advantest down 1.8%. Hong Kong's Hang Seng was the outlier, picking up 0.2% to 23,691.67. The Shanghai Composite index lost 0.3% to 3,393.29, while Taiwan's Taiex fell 0.2%. In Australia, the S&P/ASX 200 was nearly unchanged at 8,278.30. South Korea's Kospi edged 0.1% lower. On Wednesday, a choppy day of trading on Wall Street ended with a mixed finish as gains by several big technology stocks helped temper losses. The S&P 500 edged up 0.1% to 5,892.58 and the Dow Jones Industrial Average slipped 0.2% to 42,051.06. The Nasdaq composite rose 0.7% to 19,146.81. Super Micro Computer surged 15.7% after signing a partnership agreement with Saudi Arabian data center company DataVolt. Advanced Micro Devices gained 4.7% after announcing a $6 billion stock buyback program. Nvidia rose 4.2% and Google parent Alphabet added 3.7%. Other big gainers included eToro Group, a retail trading platform for stocks and cryptocurrency. It rose 28.8% in its first day of trading. The U.S. will release its April report for inflation at the wholesale level on Thursday, and economists expect an easing of price pressures. An update for retail sales is expected to reflect a sharp drop to 0.2% in April from 1.4% the previous month. Retail giant Walmart will also report its latest financial results on Thursday and its financial forecasts will be closely watched. The stock market has been relatively steady since it surged Monday after the U.S. and China announced a 90-day pause in their trade war. The market gained more ground on Tuesday after the government reported that inflation unexpectedly cooled across the country in April. More updates on inflation and retail sales are expected on Thursday. Trump has delayed a large swath of his most severe tariffs against America's trading partners, but some import taxes remain in place. Uncertainty over the path ahead continues to hang over businesses and consumers. The on-again-off-again nature of Trump's trade policy has left companies reluctant to make plans about investment and hiring and consumers nervous about spending. Businesses continue to trim or withdraw their financial forecasts as they face unpredictable trade policy and cautious consumers. American Eagle fell 6.4% after the retailer withdrew its financial outlook for the year citing 'macro uncertainty.' General Motors, UPS, Kraft Heinz and JetBlue are among the many companies representing a wide range of industries that have warned about the impact of tariffs and a weakening economy. More than 90% of companies in the S&P 500 have reported earnings for their latest quarter. The majority of companies have reported better-than-expected earnings, but forecasts for earnings growth during the current quarter have been broadly cut in half for companies in the index. The economy has already showed signs of slowing. It shrank 0.3% during the first quarter amid a surge of imports as businesses and consumers tried to stock up amid tariffs and policy uncertainty. Data on consumer prices released Tuesday showed that tariffs haven't had much impact yet. But that could change as the impact of current tariffs make their way through supply chains and delayed tariffs potentially go into effect. Inflation has cooled to just above the Federal Reserve's target of 2%, but the threat of higher prices on goods because of import taxes has heightened worries about inflation heating up. In other dealings early Thursday, U.S. benchmark crude oil lost $1.25 to $61.90 per barrel. Brent crude, the international standard, gave up $1.25 to $64.84 per barrel. The dollar slipped to 146.26 Japanese yen from 146.75 yen. The euro rose to $1.1196 from $1.1174.
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Business Standard
15-05-2025
- Business
- Business Standard
Asian shares dip as Wall Street ends mixed, US futures also edge lower
Asian shares and US futures slipped Thursday after US stocks drifted to a mixed close on Wall Street. Oil prices fell more than $1 a barrel. China moved to reverse some of its non-tariff measures against the US as agreed with Washington in their temporary trade war cease-fire and most markets traded in a narrow range. Japan's Nikkei 225 index dropped 1.1 per cent, however, to 37,705.74. Computer chip-related stocks were among the biggest decliners, with Disco Corp. falling 2.6 per cent and Advantest down 1.8 per cent. Hong Kong's Hang Seng was the outlier, picking up 0.2 per cent to 23,691.67. The Shanghai Composite index lost 0.3 per cent to 3,393.29, while Taiwan's Taiex fell 0.2 per cent. In Australia, the S&P/ASX 200 was nearly unchanged at 8,278.30. South Korea's Kospi edged 0.1 per cent lower. On Wednesday, a choppy day of trading on Wall Street ended with a mixed finish as gains by several big technology stocks helped temper losses. The S&P 500 edged up 0.1 per cent to 5,892.58 and the Dow Jones Industrial Average slipped 0.2 per cent to 42,051.06. The Nasdaq composite rose 0.7 per cent to 19,146.81. Super Micro Computer surged 15.7 per cent after signing a partnership agreement with Saudi Arabian data centre company DataVolt. Advanced Micro Devices gained 4.7 per cent after announcing a USD 6 billion stock buyback programme. Nvidia rose 4.2 per cent and Google parent Alphabet added 3.7 per cent. Other big gainers included eToro Group, a retail trading platform for stocks and cryptocurrency. It rose 28.8 per cent in its first day of trading. The US will release its April report for inflation at the wholesale level on Thursday, and economists expect an easing of price pressures. An update for retail sales is expected to reflect a sharp drop to 0.2 per cent in April from 1.4 per cent the previous month. Retail giant Walmart will also report its latest financial results on Thursday and its financial forecasts will be closely watched. The stock market has been relatively steady since it surged Monday after the US and China announced a 90-day pause in their trade war. The market gained more ground on Tuesday after the government reported that inflation unexpectedly cooled across the country in April. More updates on inflation and retail sales are expected on Thursday. Trump has delayed a large swath of his most severe tariffs against America's trading partners, but some import taxes remain in place. Uncertainty over the path ahead continues to hang over businesses and consumers. The on-again-off-again nature of Trump's trade policy has left companies reluctant to make plans about investment and hiring and consumers are nervous about spending. Businesses continue to trim or withdraw their financial forecasts as they face unpredictable trade policy and cautious consumers. American Eagle fell 6.4 per cent after the retailer withdrew its financial outlook for the year citing macro uncertainty. General Motors, UPS, Kraft Heinz and JetBlue are among the many companies representing a wide range of industries that have warned about the impact of tariffs and a weakening economy. More than 90 per cent of companies in the S&P 500 have reported earnings for their latest quarter. The majority of companies have reported better-than-expected earnings, but forecasts for earnings growth during the current quarter have been broadly cut in half for companies in the index. The economy has already showed signs of slowing. It shrank 0.3 per cent during the first quarter amid a surge of imports as businesses and consumers tried to stock up amid tariffs and policy uncertainty. Data on consumer prices released Tuesday showed that tariffs haven't had much impact yet. But that could change as the impact of current tariffs make their way through supply chains and delayed tariffs potentially go into effect. Inflation has cooled to just above the Federal Reserve's target of 2 per cent, but the threat of higher prices on goods because of import taxes has heightened worries about inflation heating up. In other dealings early Thursday, US benchmark crude oil lost USD 1.25 to USD 61.90 per barrel. Brent crude, the international standard, gave up USD 1.25 to USD 64.84 per barrel. The dollar slipped to 146.26 Japanese Yen from 146.75 Yen. The Euro rose to USD 1.1196 from USD 1.1174.
The Hill
15-05-2025
- Business
- The Hill
Asian shares are mostly lower after a mixed session on Wall Street
Asian shares and U.S. futures slipped Thursday after U.S. stocks drifted to a mixed close on Wall Street. Oil prices fell more than $1 a barrel. China moved to reverse some of its 'non-tariff' measures against the U.S. as agreed with Washington in their temporary trade war cease-fire and most markets traded in a narrow range. Japan's Nikkei 225 index dropped 1.1%, however, to 37,705.74. Computer chip-related stocks were among the biggest decliners, with Disco Corp. falling 2.6% and Advantest down 1.8%. Hong Kong's Hang Seng was the outlier, picking up 0.2% to 23,691.67. The Shanghai Composite index lost 0.3% to 3,393.29, while Taiwan's Taiex fell 0.2%. In Australia, the S&P/ASX 200 was nearly unchanged at 8,278.30. South Korea's Kospi edged 0.1% lower. On Wednesday, a choppy day of trading on Wall Street ended with a mixed finish as gains by several big technology stocks helped temper losses. The S&P 500 edged up 0.1% to 5,892.58 and the Dow Jones Industrial Average slipped 0.2% to 42,051.06. The Nasdaq composite rose 0.7% to 19,146.81. Super Micro Computer surged 15.7% after signing a partnership agreement with Saudi Arabian data center company DataVolt. Advanced Micro Devices gained 4.7% after announcing a $6 billion stock buyback program. Nvidia rose 4.2% and Google parent Alphabet added 3.7%. Other big gainers included eToro Group, a retail trading platform for stocks and cryptocurrency. It rose 28.8% in its first day of trading. The U.S. will release its April report for inflation at the wholesale level on Thursday, and economists expect an easing of price pressures. An update for retail sales is expected to reflect a sharp drop to 0.2% in April from 1.4% the previous month. Retail giant Walmart will also report its latest financial results on Thursday and its financial forecasts will be closely watched. The stock market has been relatively steady since it surged Monday after the U.S. and China announced a 90-day pause in their trade war. The market gained more ground on Tuesday after the government reported that inflation unexpectedly cooled across the country in April. More updates on inflation and retail sales are expected on Thursday. Trump has delayed a large swath of his most severe tariffs against America's trading partners, but some import taxes remain in place. Uncertainty over the path ahead continues to hang over businesses and consumers. The on-again-off-again nature of Trump's trade policy has left companies reluctant to make plans about investment and hiring and consumers nervous about spending. Businesses continue to trim or withdraw their financial forecasts as they face unpredictable trade policy and cautious consumers. American Eagle fell 6.4% after the retailer withdrew its financial outlook for the year citing 'macro uncertainty.' General Motors, UPS, Kraft Heinz and JetBlue are among the many companies representing a wide range of industries that have warned about the impact of tariffs and a weakening economy. More than 90% of companies in the S&P 500 have reported earnings for their latest quarter. The majority of companies have reported better-than-expected earnings, but forecasts for earnings growth during the current quarter have been broadly cut in half for companies in the index. The economy has already showed signs of slowing. It shrank 0.3% during the first quarter amid a surge of imports as businesses and consumers tried to stock up amid tariffs and policy uncertainty. Data on consumer prices released Tuesday showed that tariffs haven't had much impact yet. But that could change as the impact of current tariffs make their way through supply chains and delayed tariffs potentially go into effect. Inflation has cooled to just above the Federal Reserve's target of 2%, but the threat of higher prices on goods because of import taxes has heightened worries about inflation heating up. In other dealings early Thursday, U.S. benchmark crude oil lost $1.25 to $61.90 per barrel. Brent crude, the international standard, gave up $1.25 to $64.84 per barrel. The dollar slipped to 146.26 Japanese yen from 146.75 yen. The euro rose to $1.1196 from $1.1174.
