Asian Shares Mixed Amid Trump's Tariff Threats

RTTNews | Před 11 dny
Asian Shares Mixed Amid Trump's Tariff Threats

(RTTNews) - Asian stocks ended mixed on Wednesday, with Chinese and Hong Kong markets falling sharply after U.S. President Donald Trump threatened tariffs on the EU and China to address trade imbalances and combat fentanyl trafficking.

Speaking to reporters at the White House, Trump reiterated his administration's plans to discuss a potential 10 percent tariff on goods imported from China starting February 1 to curb the flow of deadly drug fentanyl that is being sent from China to the U.S. via Mexico and Canada.

Meanwhile, Europe will respond to any tariffs imposed by President Donald Trump in a proportionate way, the European Union's commissioner for the economy told CNBC after Trump repeated his threat to impose tariffs on EU goods entering the United States.

The dollar held ground in Asian trade amid uncertainty about Trump's tariff plans. Gold held at two-month highs above $2,750 per ounce while oil extended declines on concerns of higher U.S. output in a market widely expected to be oversupplied this year.

China's Shanghai Composite index fell 0.89 percent to 3,213.62 on signs of rising tensions between the world's largest economies.

Hong Kong's Hang Seng index plummeted 1.63 percent to 19,778.77, snapping a six-day winning streak on broad losses among technology companies as Trump announced a major private-sector investment aiming to "beat China" in AI.

Japanese markets rallied as Trump announced a major $500 billion AI infrastructure project in collaboration led by SoftBank, Oracle, and OpenAI. The Nikkei average jumped 1.58 percent to 39,646.25 while the broader Topix index settled 0.87 percent higher at 2,737.19.

SoftBank Group Corp shares surged 10.6 percent, while Advantest climbed 4 percent and Tokyo Electron advanced 1.7 percent.

The yen slipped from a five-week high touched on Tuesday after media reports suggested the Bank of Japan remains on track to raise interest rates on Friday.

Seoul stocks hit over two-month highs on optimism about the improved outlook for the region's tech firms. Samsung Electronics gained 1.5 percent and SK Hynix surged 3.4 percent while the Kospi average closed 1.15 percent higher at 2,547.06.

Australian markets eked out modest gains to end higher for a third straight session, with technology and uranium stocks leading the surge.

The benchmark S&P/ASX 200 rose 0.33 percent to 8,429.80 while the broader All Ordinaries index settled 0.32 percent higher at 8,680.50.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index slipped 0.12 percent to 13,037.14 after data showed annual inflation remained above the midpoint of the central bank's target band in the final three months of last year.

U.S. stocks ended on a firm note overnight as bond yields dipped on rate-cut optimism and Trump's Inauguration Day policy announcements on tariffs looked more benign than expected.

The Dow rallied 1.2 percent, the S&P 500 jumped 0.9 percent and the tech-heavy Nasdaq Composite gained 0.6 percent.

read more
TSX Tumbles More Than 1% As Stocks Fall On Tariff Concerns

TSX Tumbles More Than 1% As Stocks Fall On Tariff Concerns

After posting a record close the previous day, the Canadian market opened marginally up and edged higher Friday morning, but kept losing ground as the day progressed with stocks from across several sectors reeling under selling pressure as Trump administration confirmed that it would begin imposing 25% tariffs on imports from Canada from February 1.
RTTNews | Před 1 dnem
German Inflation Unexpectedly Eases In January

German Inflation Unexpectedly Eases In January

Consumer price pressures in Germany slowed unexpected at the start of the year amid a sharp slowdown in food inflation, offering some relief for the European Central Bank that lowered interest rates a day earlier and plan to continue easing to boost the single currency economy that came to a standstill in the final three months of 2024.
RTTNews | Před 1 dnem
Swiss Markets Ends Slightly Weak

Swiss Markets Ends Slightly Weak

The Swiss market edged down marginally on Friday with stocks paring gains in late afternoon trade as investors chose to take some profits following a long winning streak. Data showing a stronger than expected jump in the nation's retail sales aided sentiment.
RTTNews | Před 1 dnem
Major European Markets Close Slightly Higher

Major European Markets Close Slightly Higher

European stocks saw some profit taking in late afternoon trades on Friday, but the major markets in the region still managed to close slightly up. Investors assessed recent economic data, earnings news, and monetary policy announcements of the Federal Reserve and the European Central Bank.
RTTNews | Před 1 dnem
Canadian Market Down Marginally In Cautious Trade; Tech Stocks Move Higher

Canadian Market Down Marginally In Cautious Trade; Tech Stocks Move Higher

The Canadian market is up in positive territory a little past noon on Friday with the benchmark S&P/TSX Composite Index hovering near record high, thanks largely to strong buying in the technology sector after encouraging earnings updates from big name U.S. companies such as Apple Inc. and Meta Platforms.
RTTNews | Před 1 dnem
U.S. Dollar Advances Amid Trump's Tariff Threats

U.S. Dollar Advances Amid Trump's Tariff Threats

The U.S. dollar firmed against its most major counterparts in the New York session on Friday amid concerns about President Donald Trump's renewed pledge to slap 25 percent tariffs on imports from Canada and Mexico on February 1.
RTTNews | Před 1 dnem
ECB Surveys Show Rising Eurozone Inflation Expectations

ECB Surveys Show Rising Eurozone Inflation Expectations

Euro area consumers' inflation expectations for the next 12 months increased for a third straight month in December, while professional forecasters revised up the projections for this year and next, separate surveys by the European Central Bank showed on Friday.
RTTNews | Před 1 dnem
Chicago Business Barometer Increases But Still Indicates Contraction

Chicago Business Barometer Increases But Still Indicates Contraction

MNI Indicators released a report on Friday showing its reading on Chicago-area business activity increased in the month of January but continued to indicate contraction. The report said the Chicago business barometer rose to 39.5 in January from 36.9 in December, although a reading below 50 still indicates contraction. Economists had expected the index to climb to 40.0.
RTTNews | Před 1 dnem