Asian Shares Rise On Optimism Over Trade Talks

RTTNews | vor 88 Tagen
Asian Shares Rise On Optimism Over Trade Talks

(RTTNews) - Asian stocks rose broadly on Monday amid revived hopes for progress in trade talks and expectations of further stimulus from China.

U.S. Treasury Secretary Scott Bessent said the Trump administration is working on bilateral trade deals with 17 key trading partners, not including China, and that the latter needs a de-escalation.

Oil prices were little changed in Asian trade and gold fell over 1 percent below $3,300 per ounce as the dollar strengthened on easing Sino-U.S. tensions.

China's Shanghai Composite index slipped 0.2 percent to 3,288.41 as investors awaited the details of new stimulus from a key economic policy meeting.

China's finance minister Lan Fo'an said the country will take measures to achieve its annual economic growth target of around 5 percent despite escalating trade tensions.

Hong Kong's Hang Seng index finished marginally lower at 21,971.96 as China denied any talks with the U.S. over tariff exemptions, calling out Washington for 'misleading' the public.

Japanese markets eked out modest gains ahead of the Bank of Japan's rate decision due later in the week, with no policy change expected.

Japan's top currency diplomat Atsushi Mimura today denied a newspaper report that U.S. Treasury Secretary Scott Bessent called for a stronger yen against the dollar.

The Nikkei average rose 0.38 percent to 35,839.99, extending gains for a fourth day running as U.S. tariff negotiations progress. The broader Topix index settled 0.86 percent higher at 2,650.61 ahead of a national holiday on Tuesday.

Toyota Motor rallied 3.6 percent after an announcement that it may invest in key parts supplier Toyota Industries.

Seoul stocks edged up slightly in cautious trade as investors assessed interim progress in trade negotiations between Seoul and Washington.

The Kospi average inched up by 0.1 percent to 2,548.86, extending gains for a second session after Industry Minister Ahn Duk-geun said that South Korea plans to approach trade talks with the United States "calmly and cautiously."

Earlier, the U.S. Treasury Department said that Thursday's discussions were focused on "an expanded equilibrium which encourages rather than restricts trade."

Australian markets closed higher for a third consecutive session, with tech and energy stocks pacing the gainers.

The benchmark S&P/ASX 200 rose 0.36 percent to 7,997.10 amid rising expectations of an RBA rate cut in May. The broader All Ordinaries index ended up 0.35 percent at 8,203.90.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index climbed 0.67 percent to 12,098.89.

U.S. stocks ended on a firm note Friday and logged strong gains for the week amid optimism that the worst of the tariff-induced uncertainty is over.

President Trump told Time magazine that tariff negotiations were underway with China and that Chinese President Xi Jinping had called him, but Beijing denied the claims and said "U.S. should stop creating confusion."

Investors shrugged off data that showed U.S. consumer sentiment fell to one of the lowest readings on record and long-term inflation expectations climbed to the highest since 1991 due to Trump's trade war.

The tech-heavy Nasdaq Composite rallied 1.3 percent, and the S&P added 0.7 percent to extend gains for the fourth straight session while the narrower Dow ended flat with a positive bias.

read more
Bay Street Seen Opening With Negative Bias

Bay Street Seen Opening With Negative Bias

Canadian shares are likely to open with a slightly negative bias Friday morning, weighed down by uncertainty about tariffs, and lower bullion prices. Investors are also likely to react to earnings updates. The market is likely to move in a tight range for much of the day's trading session.
RTTNews | vor 34 Minuten
UK Retail Sales Rebound As Warm Weather Boosts Spending

UK Retail Sales Rebound As Warm Weather Boosts Spending

UK retail sales recovered in June as warm weather boosted consumer spending but consumer sentiment weakened amid fears of possible tax rate hikes, data showed Friday. Retail sales grew 0.9 percent on a monthly basis, in contrast to the revised 2.8 percent drop in May, the Office for National Statistics reported. However, this was weaker than economists' forecast of 1.2 percent gain.
RTTNews | vor 52 Minuten
FTSE 100 Sheds Ground After Six-day Winning Streak

FTSE 100 Sheds Ground After Six-day Winning Streak

After posting gains in the previous six sessions, the U.K. market is down in negative territory on Friday with data showing a less than expected increase in retail sales, and a drop in consumer sentiment weighing on stocks.
RTTNews | vor 1Std 6 Minuten
Volkswagen Stock Up On Volume Growth, Despite Weak Q2 Profit, Outlook Cut

Volkswagen Stock Up On Volume Growth, Despite Weak Q2 Profit, Outlook Cut

Shares of Volkswagen Group were gaining around 4 percent in the German trading after the automajor reported Friday slightly higher sales volume in the second quarter, even though profit and revenues were lower and the firm trimmed fiscal 2025 outlook. The latest results were hit partly by higher sales of lower-margin all-electric models, as well as increased US import tariffs and restructuring...
RTTNews | vor 2Std 31 Minuten
CAC 40 Pares Early Losses, Up Marginally

CAC 40 Pares Early Losses, Up Marginally

French stocks are a bit subdued in cautious trade on Friday amid a few disappointing earnings updates, and some uncertainty about U.S.-EU trade deal ahead of the August 1 deadline.
RTTNews | vor 2Std 40 Minuten
Pound Falls Against Majors

Pound Falls Against Majors

The British pound weakened against most major currencies in the European session on Friday.
RTTNews | vor 3Std 5 Minuten
DAX Drifts Lower As Investors Await Progress On Trade Front

DAX Drifts Lower As Investors Await Progress On Trade Front

German stocks are notably lower on Friday as investors react to a slew of corporate earnings announcements, and closely follow the developments on the trade front. European Union officials are voicing optimism about a possible trade deal with the United States, but U.S. President Donald Trump's position is seen to have hardened ahead of the August 1 deadline.
RTTNews | vor 3Std 9 Minuten