Latest news with #TradeTariffs
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
South China Morning Post
08-05-2025
- Business
- South China Morning Post
There's more to Taiwan's currency shock than meets the eye
In early January, the Bloomberg Asia Dollar Index – a gauge of the performance of leading Asian currencies against the US dollar – stood at its lowest level since 2006. Clobbered by a sharp rally in the US dollar as investors expected US President Donald Trump's higher trade tariffs to stoke inflationary pressures, keeping US interest rates higher for longer, Asian currencies were viewed as one of the most vulnerable assets. Advertisement The combination of Asia's deep integration into global supply chains and Trump's blinkered focus on bilateral trade balances put the region's economies and markets in the firing line. As Morgan Stanley noted in a report on November 17, Asia accounts for seven of the 10 economies with the largest trade surpluses with the United States. Fast forward four months and Asian currencies have defied expectations. Since its low on January 13, the Bloomberg Asia Dollar Index has risen 3.5 per cent, with most of the rally occurring since the end of April. The yuan has hit its highest level versus the US dollar in six months, the Hong Kong dollar is testing the upper end of its trading band and the Indonesian rupiah has erased most of this year's losses against the US dollar after falling to a record low on April 8. However, it is the New Taiwan dollar , a stable currency that rarely makes the headlines, that is leading the gains in Asia's foreign exchange markets. On May 2, the Taiwanese currency surged 4 per cent against the US dollar, its sharpest daily advance since 1988. Since April 3, the New Taiwan dollar has risen a staggering 9 per cent. The much stronger appreciation in the currency since the start of this month was attributed in part to hopes for a de-escalation in the US-China trade war , with Washington and Beijing set to begin talks on May 10. Speculation that Taiwan will allow its currency to strengthen to reach a trade agreement with the Trump administration was also a factor, according to some analysts. Advertisement Yet these explanations are not convincing. A more compelling reason for the surge in Taiwan's currency is the sudden unwinding of risky bets by Taiwanese life insurance companies, one of the biggest and most overlooked forces in global debt markets.
Globe and Mail
18-04-2025
- Business
- Globe and Mail
(DOWNLOAD A FREE REPORT): How the weak dollar, Trade Tariffs and weather are affecting natural gas, metals and more
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