Latest news with #US-imposed
Malaysian Reserve
16 hours ago
- Business
- Malaysian Reserve
Asian shares edge up on Japan's post-election jump
ASIAN stocks posted a modest gain with Japanese markets staging a relief rally after Prime Minister Shigeru Ishiba said he would carry on as leader even after the ruling coalition lost its majority in the upper house election. The MSCI regional stock gauge advanced 0.1% after the S&P 500 index closed above 6,300 for the first time. The Nikkei-225 index in Japan jumped as much as 1.1%, before paring gains. The yen depreciated a touch after gaining as much as 1% Monday. Treasuries rose, with yields on the 10-year dipping for a fifth consecutive day to 4.37%. Stocks have surged from their slump in April as fund managers lean harder into the rally in risk assets with US stocks pushing to fresh highs, defying persistent trade and geopolitical tensions. The high-octane wager is that while President Donald Trump is threatening to disrupt the economic order anew, he will step back from the brink. That rally faces a key test this week as megacaps such as Tesla Inc. and Alphabet Inc. report earnings. 'Earnings season will move into full swing this week, and the guidance will be more important than usual,' said Matt Maley, chief market strategist at Miller Tabak. 'This guidance is going to have to create a very large increase in earnings estimates if the market is going to reach some of the targets that exist on Wall Street right now.' Investors also kept a close eye on tariff headlines Monday. Trump may issue more unilateral tariff letters before Aug. 1, White House Press Secretary Karoline Leavitt said. More trade deals may also be reached before the deadline, she added. Meanwhile, Philippine President Ferdinand Marcos Jr. will be the latest foreign leader eager to make a deal before the US-imposed Aug. 1 tariff deadline when he visits Trump in the Oval Office later Tuesday. Market participants are focused on the performance of Japanese markets as investors weigh policy uncertainty after the ruling Liberal Democratic Party's historic loss in Sunday's elections. With the election out of the way, 'the possibility of a 'sell Japan' trend, due to worries over extreme fiscal spending, has lessened,' supporting stock prices, said Hideyuki Ishiguro, chief strategist at Nomura Asset Management. However, uncertainty around the new political landscape is likely to cap gains, he said. Japanese government bonds are vulnerable to further selling following the elections, although the immediate reaction Tuesday was damped by a rally in global debt markets. Benchmark 10-year bonds fell only slightly as trading resumed in Tokyo, pushing yields up by 1.5 basis points. In the US, the second-quarter earnings season is off to a ripping start, with consumer strength powering resilient corporate profits. Yet after hitting a series of all-time highs, the S&P 500 is trading around 22 times expected 12-month profits. 'While stocks may be due for a breather, we believe the bull market remains intact,' said Ulrike Hoffmann-Burchardi at UBS Global Wealth Management. 'We maintain our June 2026 S&P 500 price target of 6,500, and recommend using volatility as an opportunity to phase into markets.' The S&P 500 hasn't posted a 1% up or down day since late June, and Mark Hackett at Nationwide notes that volatility gauges also remain 'suspiciously quiet.' 'This calm is unusual and may reflect both investor fatigue and institutional hesitation to fight the current trend,' he said. 'We're in a window where calm can quickly turn to complacency. While a break in either direction is possible, current positioning suggests we'd bet on a rally before a drop.' –BLOOMBERG
Straits Times
17 hours ago
- Business
- Straits Times
Marcos heads to White House with some Washington momentum
US Defense Secretary Pete Hegseth meets with Philippine President Ferdinand Marcos Jr. at the Pentagon, in Washington, on July 21. WASHINGTON - Philippine President Ferdinand Marcos Jr. heralded deeper ties with the US after meeting top officials in Washington. The test of whether that's true will come on July 22 when President Donald Trump welcomes him to the White House. That Oval Office encounter will take place after visits by several foreign leaders eager to make deals before the US-imposed Aug 1 tariff deadline. On July 21, Mr Marcos went to both the Pentagon and State Department as his government tries to slash pending 20 per cent tariffs and bolster the bilateral security and investment relationship between the two allies. 'Our storied alliance has never been stronger or more essential than it is today and together we remain committed to the Mutual Defense Treaty,' Defense Secretary Pete Hegseth said in remarks alongside Mr Marcos. He called the Asia-Pacific 'our priority theater' and said the US was 'proud to support our mutual economic vitality, including your efforts to modernise your armed forces and collective defense'. Mr Hegseth also lauded 'remarkable strides' in the relationship since his March visit to the region, pointing to expanded joint military exercises in and around the South China Sea as well as deploying cutting-edge missiles and unmanned systems, and revitalising defense industrial bases on both sides. Mr Marcos spoke of how 'you cannot limit Philippine-American relationship to one dimension' and said Mr Hegseth's March visit 'sent a very clear message about our continuing partnership and our continuing understanding of the mutual defense treaty'. 'Friends, partners' Later on July 21, Mr Marcos and Secretary of State Marco Rubio celebrated a relationship as 'friends, partners, and allies' committed to regular high-level engagement, according to State spokesperson Tammy Bruce. The two officials discussed a range of security issues and also addressed investment, including building on the Luzon Economic Corridor – an initiative started under President Joe Biden. Above all the minister-level diplomacy, however, looms the always-present possibility that Mr Trump could torpedo the script when the two presidents sit in the Oval Office. Mr Marcos has described the higher 20 per cent tariff rate as 'very severe', and said he would push for a trade deal with the US to lower the duty. He is the latest global leader to face a Trump administration ready to economically punish security allies, injecting stress into long and venerable relationships. Japan and South Korea, for instance, have strong ties to the US, but that didn't stop Mr Trump from threatening higher duties. 'With security deeply intertwined with economics, punitive measures from the United States will not inspire confidence in US allies and will perpetuate doubt at the United States' willingness to help Asian economies buffer against Chinese economic coercion,' said Mr Japhet Quitzon, associate fellow at the Washington-based Center for Strategic and International Studies. There's pressure on Mr Marcos to secure a deal as Mr Trump has announced agreements with Southeast Asian neighbors Vietnam and Indonesia. While the Philippines is less trade-dependent than its regional peers, having a higher tariff rate would make it less attractive to investors. Mr Marcos also needs an economic accomplishment after a midterm election setback that showed the strength of his ally-turned-rival, Vice-President Sara Duterte, that risks undermining his authority in the latter half of his six-year term. His government is aiming to grow the economy by at least 5.5 per cent this year – lower than earlier forecasts as Mr Trump's tariffs loom. The office of the US Trade Representative and the Commerce Department didn't respond to requests for comment on July 21. Earlier, White House Press Secretary Karoline Leavitt said of the US-Philippines trade agenda, 'Perhaps this will be a topic of discussion – you will all see for yourselves in the Oval Office, as you always do. But the Aug 1 deadline is just the – really, the start date for when the United States of America will begin collecting this revenue from all of the countries around the world who the president has sent these letters to.' The Philippine leader has already restored security relations with the US that were strained under his predecessor, Mr Rodrigo Duterte, Sara's father. In just three years of his presidency, Mr Marcos expanded US access to military bases, hosted thousands of American soldiers for drills, and allowed the deployment of a US missile system. Fostering the alliance with Manila will be equally crucial for Mr Trump, as his administration seeks to counter China's growing assertiveness in the Asia-Pacific. The Philippines sits at a strategically important location near two regional flashpoints: Taiwan and the South China Sea. Confronting China US officials have repeatedly assured an 'ironclad' commitment to the Philippines – its oldest military ally in Asia – as Manila increasingly confronts Beijing in disputed waters. To show that the security alliance could extend to economic relations, the US earlier pledged to support Philippine infrastructure projects, and bring in US$1 billion (S$1.66 billion) worth of investments. 'Making concessions on defense is one good way of securing a trade deal, given that pushing allies to do more is one of Trump's priorities,' Mr Darren Tay, head of Asia country risk at Fitch Solutions research unit BMI, said on a webinar last week. Philippine ambassador to the US Jose Manuel Romualdez has been optimistic about the White House meeting, as well as the prospect of the two countries reaching a free trade agreement down the line, citing Mr Trump's gesture to invite Mr Marcos to stay at Blair House in Washington. The two leaders also share a personal connection, with Mr Marcos's mother, former Philippine First Lady Imelda Marcos, an acquaintance of Mr Trump. 'That means something, that you are obviously given importance by your host,' the ambassador said. BLOOMBERG
Economic Times
17 hours ago
- Business
- Economic Times
Asian shares advance, Japan gains after elections
Asian shares rose at the open after US stocks soared to a record ahead of a busy earnings week that will include results from Tesla Inc. and Alphabet Inc. ADVERTISEMENT Shares in Tokyo — where Prime Minister Shigeru Ishiba said he would carry on as leader even as the ruling coalition lost its majority in the upper house election — gained 1% as trading resumed after a public holiday Monday. The MSCI regional stock gauge advanced 0.3% after the S&P 500 index closed above 6,300 for the first time. A cohort of the world's largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions. The high-octane wager is that while President Donald Trump is threatening to disrupt the economic order anew, he will step back from the brink. Traders are now looking for signs of resilience in corporate earnings amid tariff risks.'Earnings season will move into full swing this week, and the guidance will be more important than usual,' said Matt Maley, chief market strategist at Miller Tabak. 'This guidance is going to have create a very large increase in earnings estimates if the market is going to reach some of the targets that exist on Wall Street right now.'Investors also kept a close eye on tariff headlines. Trump may issue more unilateral tariff letters before Aug. 1, White House Press Secretary Karoline Leavitt said. More trade deals may also be reached before the deadline, she added. ADVERTISEMENT Meanwhile, Philippine President Ferdinand Marcos Jr. will be the latest foreign leader eager to make a deal before the US-imposed Aug. 1 tariff deadline when he visits Trump in the Oval Office later Tuesday. Market participants are focused on the performance of Japanese markets as investors weigh policy uncertainty after the ruling Liberal Democratic Party's historic loss in Sunday's elections. ADVERTISEMENT The yen depreciated slightly against the dollar after strengthening as much as 1% Monday following Ishiba's the election out of the way, 'the possibility of a 'sell Japan' trend, due to worries over extreme fiscal spending, has lessened,' supporting stock prices, said Hideyuki Ishiguro, chief strategist at Nomura Asset Management. However, uncertainty around the new political landscape is likely to cap gains, he said. ADVERTISEMENT In the US, the second-quarter earnings season is off to a ripping start, with consumer strength powering resilient corporate profits. Yet after hitting a series of all-time highs, the S&P 500 is trading around 22 times expected 12-month profits.'While stocks may be due for a breather, we believe the bull market remains intact,' said Ulrike Hoffmann-Burchardi at UBS Global Wealth Management. 'We maintain our June 2026 S&P 500 price target of 6,500, and recommend using volatility as an opportunity to phase into markets.' ADVERTISEMENT The S&P 500 hasn't posted a 1% up or down day since late June, and Mark Hackett at Nationwide notes that volatility gauges also remain 'suspiciously quiet.' 'This calm is unusual and may reflect both investor fatigue and institutional hesitation to fight the current trend,' he said. 'We're in a window where calm can quickly turn to complacency. While a break in either direction is possible, current positioning suggests we'd bet on a rally before a drop.' (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
17 hours ago
- Business
- Time of India
Asian shares advance, Japan gains after elections
Asian shares rose at the open after US stocks soared to a record ahead of a busy earnings week that will include results from Tesla Inc. and Alphabet Inc. Shares in Tokyo — where Prime Minister Shigeru Ishiba said he would carry on as leader even as the ruling coalition lost its majority in the upper house election — gained 1% as trading resumed after a public holiday Monday. The MSCI regional stock gauge advanced 0.3% after the S&P 500 index closed above 6,300 for the first time. Explore courses from Top Institutes in Select a Course Category Management Product Management Project Management Technology Degree Cybersecurity Digital Marketing PGDM Artificial Intelligence Data Science MBA CXO Operations Management others Data Analytics Others Leadership Data Science Healthcare healthcare Design Thinking MCA Public Policy Finance Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIM Kozhikode CERT-IIMK General Management Programme India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details A cohort of the world's largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions. The high-octane wager is that while President Donald Trump is threatening to disrupt the economic order anew, he will step back from the brink. Traders are now looking for signs of resilience in corporate earnings amid tariff risks. 'Earnings season will move into full swing this week, and the guidance will be more important than usual,' said Matt Maley, chief market strategist at Miller Tabak. 'This guidance is going to have create a very large increase in earnings estimates if the market is going to reach some of the targets that exist on Wall Street right now.' Live Events Investors also kept a close eye on tariff headlines. Trump may issue more unilateral tariff letters before Aug. 1, White House Press Secretary Karoline Leavitt said. More trade deals may also be reached before the deadline, she added. Meanwhile, Philippine President Ferdinand Marcos Jr. will be the latest foreign leader eager to make a deal before the US-imposed Aug. 1 tariff deadline when he visits Trump in the Oval Office later Tuesday. Market participants are focused on the performance of Japanese markets as investors weigh policy uncertainty after the ruling Liberal Democratic Party's historic loss in Sunday's elections. The yen depreciated slightly against the dollar after strengthening as much as 1% Monday following Ishiba's loss. With the election out of the way, 'the possibility of a 'sell Japan' trend, due to worries over extreme fiscal spending, has lessened,' supporting stock prices, said Hideyuki Ishiguro, chief strategist at Nomura Asset Management. However, uncertainty around the new political landscape is likely to cap gains, he said. In the US, the second-quarter earnings season is off to a ripping start, with consumer strength powering resilient corporate profits. Yet after hitting a series of all-time highs, the S&P 500 is trading around 22 times expected 12-month profits. 'While stocks may be due for a breather, we believe the bull market remains intact,' said Ulrike Hoffmann-Burchardi at UBS Global Wealth Management. 'We maintain our June 2026 S&P 500 price target of 6,500, and recommend using volatility as an opportunity to phase into markets.' The S&P 500 hasn't posted a 1% up or down day since late June, and Mark Hackett at Nationwide notes that volatility gauges also remain 'suspiciously quiet.' 'This calm is unusual and may reflect both investor fatigue and institutional hesitation to fight the current trend,' he said. 'We're in a window where calm can quickly turn to complacency. While a break in either direction is possible, current positioning suggests we'd bet on a rally before a drop.'
Time of India
a day ago
- Automotive
- Time of India
AI diplomacy: Nvidia CEO Jensen Huang's Beijing visit draws fan frenzy; chipmaker reopens H20 sales in China
Nvidia CEO Jensen Huang's recent visit to Beijing has sparked a wave of public enthusiasm, with videos on Chinese social media showing the billionaire executive signing autographs, posing for selfies, and mingling with fans on the streets—an unusual sight for a global tech CEO. Tired of too many ads? go ad free now This marked Huang's third visit to China in 2025 and coincided with the reopening of H20 chip sales in the country following a US-imposed ban in April. The head of the world's most valuable company arrived in China last week to attend the China International Supply Chain Expo, just days after meeting US President Donald Trump. Huang's presence in Beijing came amid growing geopolitical tensions and trade restrictions between Washington and Beijing, with Nvidia's $17 billion China business caught in the middle of an intensifying technology rivalry, Reuters reported. "Jensen Huang's visit aimed to demonstrate Nvidia's commitment to the Chinese market," said Lian Jye Su, chief analyst at Omdia. "However, this commitment must be balanced against potential US government concerns about deepening ties with China." In Beijing, Huang praised Chinese AI models developed by DeepSeek, Alibaba, and Tencent as 'world class', and said demand for Nvidia's H20 chips had surged since the launch of DeepSeek models in January. He also held meetings with senior Chinese officials, including Vice Premier and trade tsar He Lifeng and Commerce Minister Wang Wentao, which he described as 'wonderful'. "Nvidia will still need to see the tide clearly and ride it at the right time to maximize the available benefits. But good for the company, I think it has a CEO who's very good at doing that," said Tilly Zhang, a technology analyst with Gavekal Dragonomics, quoted Reuters. Tired of too many ads? go ad free now Despite the warm reception, some analysts say Nvidia's dominance in China could face long-term challenges. "The Chinese government will actively help or subsidize domestic rivals that can one day stand up to and, at least in some use cases, replace high-end Nvidia chips," said Charlie Chai, an analyst with 86Research. When asked how US officials reacted to his China trip, Huang told reporters, 'I told President Trump and his cabinet that I was coming to China. Told him about my trip here, and he said, 'Have a great trip'." At the Expo, Huang wore a traditional black Chinese-style jacket instead of his trademark leather one and referred to himself as "Chinese" during his speech. He lauded the scale of China's supply chain as 'vast' and praised even strategic rival Huawei Technologies. "I think the fact of the matter is, anyone who discounts Huawei and anyone who discounts China's manufacturing capability is deeply naive. This is a formidable company," Huang said.
