Asian Shares Mixed As Tariff Concerns Resurface

RTTNews | hace 101
Asian Shares Mixed As Tariff Concerns Resurface

(RTTNews) - Asian stocks ended mixed on Thursday as trade war concerns resurfaced following mixed signals from the Trump administration regarding easing tariffs on Chinese imports. U.S.-China trade deal optimism faded after U.S. Treasury Secretary Scott Bessent said there were no plans for President Trump to move first in lowering tariffs to ease Sino-U.S. tensions, echoing comments from White House spokesperson Karoline Leavitt that there will be no unilateral reduction in tariffs against China.

The dollar turned lower after a brief recovery, helping gold prices bounce back in Asian trade. Oil prices also edged up after Wednesday's 2 percent fall.

China's Shanghai Composite index ended marginally higher at 3,297.29 despite shares of cloud computing, big data and software companies suffering heavy losses.

China today launched its first batch of special sovereign bonds for 2025, aiming to cushion the economy from simmering trade tensions with the U.S.

Hong Kong's Hang Seng index fell 0.74 percent to 21,909.76, dropping for the first time in four days, dragged down by tech shares.

Japanese markets eked out modest gains while the yen flipped after two days of losses as Scott Bessent said that Washington has "no currency targets" in its talks with Japan on tariffs.

The Nikkei average rose 0.49 percent to 35,039.15 after reports suggested that a second round of talks in Washington was set for May 1. The broader Topix index settled 0.32 percent higher at 2,592.56, led by technology and auto stocks.

Suzuki Motor rose about 1 percent and Toyota gained nearly 3 percent after reports emerged that U.S. President Donald Trump is considering exemptions for automakers from certain tariffs.

Advantest, the world's biggest supplier of chip testing equipment, rallied 3.2 percent and Tokyo Electron surged 3.7 percent.

Seoul stocks ended slightly lower because of uncertainty about what Trump will do with his economic policies. The Kospi average closed 0.13 percent lower at 2,522.33 ahead of tariff talks with the United States.

Australian markets rose notably to hit a four-week high, with banks and miners leading the surge. The benchmark S&P/ASX 200 gained 0.60 percent to finish at 7,968.20 while the broader all Ordinaries index closed up 0.61 percent at 8,175.10.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index rose 0.51 percent to 12,017.84.

U.S. stocks rallied overnight, the dollar gained and safe-haven gold plunged after Treasury Secretary Scott Bessent said that both the U.S. and China have the chance to make "a big deal" on trade. "If they want to rebalance, let's do it together," Bessent said.

The tech-heavy Nasdaq Composite ended 2.5 percent higher after surging as much as 4.5 percent earlier. The S&P 500 jumped 1.7 percent and the Dow climbed 1.1 percent.

read more
Singapore Shares May Take Further Damage On Monday

Singapore Shares May Take Further Damage On Monday

The Singapore stock market had finished lower in six straight sessions, surrendering almost 120 points or 2.9 percent along the way. The Straits Times Index now sits just above the 4,150-point plateau and it's expected to open under pressure again on Monday.
RTTNews | hace 14 minutos
Malaysia Shares May Hand Back Friday's Gains

Malaysia Shares May Hand Back Friday's Gains

The Malaysia stock market has moved higher in two of three trading days since the end of the three-day losing streak in which it had fallen more than 15 points or 1 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,535-point plateau although it may tick lower again on Monday.
RTTNews | hace 44 minutos
Japan Stock Market May Extend Friday's Losses

Japan Stock Market May Extend Friday's Losses

The Japan stock market headed south again on Friday, one day after ending the four-day losing streak in which it had given up almost 1,175 points or 2.8 percent. The Nikkei 225 now sits just shy of the 40,800-point plateau and it may open to the downside again on Monday.
RTTNews | hace 59 minutos
South Korea Shares May Extend Losing Streak

South Korea Shares May Extend Losing Streak

The South Korea stock market has moved lower in back-to-back sessions, tumbling more than 135 points or 3.9 percent along the way. The KOSPI now sits just shy of the 3,120-point plateau and it's likely to take further damage on Monday.
RTTNews | hace 1h 14min
Japan Monetary Base Data Due On Monday

Japan Monetary Base Data Due On Monday

Japan will on Monday release July figures for monetary base, highlighting a very light day for Asia-Pacific economic activity. In June, the base was down 3.3 percent on year.
RTTNews | hace 2h 14min