Articles in this Cluster
21-04-2025
Global markets slumped on concerns that President Trump's tariffs will hurt economic growth. US stock markets were set to open lower, with S&P 500 futures down nearly 1%. Japan's Nikkei 225 fell 1.2%, while Taiwan's benchmark dropped 1.4%. Oil prices slipped 1.5% as concerns over Trump's trade policies weighed on the market. The US dollar continued to decline against the Japanese yen and euro. Economists warn that Trump's tariffs will raise prices and impede growth, with the International Monetary Fund forecasting slower growth and higher inflation.
21-04-2025
Asia-Pacific markets traded mixed on Monday amid ongoing trade tensions between the US and China. China's central bank held its key loan prime rates unchanged, in line with expectations, which led to a 0.15% rise in the CSI 300 index. India's Nifty 50 and BSE Sensex gained 0.56% and 0.73%, respectively. Japan's Nikkei 225 fell 1.33%, while South Korea's Kospi was down 0.16%. The Chinese yuan appreciated against the US dollar after the People's Bank of China's decision. Asian chip-related stocks traded mixed, and shares of major Chinese banks picked up after the rate decision. Spot gold rose above $3,300 as investors sought safe-haven assets amid trade tensions. The Japanese yen strengthened to a 7-month high against the US dollar.
21-04-2025
China's central bank, the People's Bank of China (PBOC), kept its loan prime rates (LPR) unchanged, with the 1-year LPR at 3.1% and the 5-year LPR at 3.6%, as expected. The decision comes after China reported encouraging GDP growth numbers for the first quarter, which grew 5.4% year on year. The PBOC appears focused on stabilizing the yuan amid trade tensions with the U.S., including tariffs imposed by both countries. The move was in line with expectations from economists, who cited currency stabilization considerations as a key factor in the PBOC's decision to hold rates steady.
21-04-2025
US President Donald Trump's repeated calls for Federal Reserve Chair Jerome Powell to cut interest rates could lead to market trouble and inflation if he intervenes in the Fed's decision-making. Trump's comments come as a CNBC survey shows 55% of Americans disapprove of his handling of the economy, with many expecting the economy to worsen. Other news includes the potential overhaul of the US State Department, imposition of fees on Chinese-built vessels, and a mineral deal between Ukraine and the US. This week's focus is expected to shift to earnings reports from companies like Tesla and Alphabet.
21-04-2025
US stock futures fell on Monday morning following a third weekly decline in the last four trading weeks for Wall Street. S&P 500 futures dropped 0.79%, Nasdaq-100 futures fell 0.82%, and Dow Jones Industrial Average futures tumbled 318 points, or 0.81%. The decline comes after UnitedHealth's 22% stock plunge and Nvidia's nearly 3% loss on Thursday, as well as concerns over President Donald Trump's tariffs. Despite uncertainty, some analysts believe the worst may be over, with Mike Dickson of Horizon Investments stating that "perpetual" market swings may be less frequent. Investors are awaiting earnings reports from over 100 S&P 500 companies, including Alphabet, Tesla, and Boeing.
21-04-2025
Chinese stocks rose by the most in a week on Monday, with the CSI 300 Index advancing 0.2% to 3,778.18, as investors bet on potential stimulus measures from Beijing to offset the impact of the ongoing trade war with the US, with gains led by tech firms such as Cambricon Technologies and Contemporary Amperex Technology.
21-04-2025
China has warned countries against "appeasing" the US in trade deals, amid reports that Washington plans to pressure governments to restrict trade with Beijing in exchange for exemptions to US import taxes imposed by President Donald Trump's tariffs. A Chinese Commerce Ministry spokesperson said "appeasement cannot bring peace, and compromise cannot earn one respect," and vowed to take countermeasures if countries reach a deal at China's expense. The US has imposed hefty tariffs on Chinese imports and is negotiating with other countries, including Japan and South Korea, over trade deals.
21-04-2025
China has warned that it will take "reciprocal countermeasures" against countries that cooperate with the US in ways that compromise Beijing's interests, as the US plans to use tariff negotiations to pressure its partners to limit their dealings with China. China's Ministry of Commerce stated that it "firmly opposes" any deal that harms China's interests and accused the US of "unilateral bullying" and "abusing tariffs." The warning comes as the US-China trade war escalates, with China retaliating against US tariffs with its own levies and restrictions on US companies.
21-04-2025
China has warned its trading partners against colluding with the US to restrict trade with China in exchange for exemptions from President Donald Trump's "reciprocal" tariffs, stating that "appeasement does not bring peace, and compromise does not earn respect." A spokesperson for China's Commerce Ministry said that countries seeking temporary self-interest at China's expense will "achieve nothing and harm both others and oneself." The warning comes after reports that the Trump administration plans to pressure US trading partners to limit their dealings with China in exchange for reductions in trade and tariff barriers.
21-04-2025
China has warned that it will firmly oppose and retaliate against countries that trade away its interests under pressure from the US, which has reportedly asked its trading partners to limit trade with Beijing in exchange for tariff exemptions. China's Ministry of Commerce called the US tactics "unilateral bullying" and "economic hegemony" that violates international norms, and vowed to take countermeasures to defend its rights.
21-04-2025
South Korea's customs agency has uncovered a significant rise in attempts to evade US tariffs by relabeling Chinese goods as Korean exports. In the first quarter, they found 29.5 billion won ($20.7 million) worth of country-of-origin violations, with 97% of the total being US-bound shipments, a significant increase from 2024.
