President Donald Trump’s pledge to impose tariffs on all imports of steel and aluminum sent the dollar higher as investors braced for increased global trade tensions. Hong Kong stocks extended their tech-fueled rally into a third day. Equities presented a mixed picture with a benchmark of Asian shares dropping the most in a week, while US and European stock index futures edged higher. The greenback climbed against major peers including the Canadian dollar and the yen on speculation rising tariffs may boost inflation and limit the Federal Reserve’s ability to cut interest rates. Trump’s intention to announce a 25% levy on steel and aluminum Monday added to already tense sentiment before Fed Chair Jerome Powell’s semiannual congressional testimony this week and the US President’s possible unveiling of reciprocal tariffs on “everyone” this week. Trump said the metals tariffs would apply to imports from all countries, though he didn’t specify when they would take effect. The modest gains in US stock futures during Asian hours indicate some buyers may want to get back into the market following the 1% selloff on the S&P 500 Index on Friday. There are a number of key events on the radar this week including Powell’s speech and US CPI data. Yields on the 10-year Treasury edged lower. Australian and New Zealand bonds held losses from earlier in the session. Separately, Trump said Elon Musk’s government efficiency team has found irregularities while examining data at the US Treasury Department. Powell will deliver his semi-annual testimony at a time when officials are signaling they’re not in a hurry to further ease policy. Nonfarm payrolls moderated last month and revisions show US job gains were softer but still solid in 2024. Inflation data due this week may help buttress those arguments and underpin market pricing for just one Fed rate cut this year. In Singapore, shares in DBS Group Holdings Ltd. rose to a record after Southeast Asia’s biggest lender unveiled a dividend payout plan. Chinese equities in Hong Kong bucked the trend and advanced. The Hang Seng Tech Index hit its highest since October on an intraday basis, as the growing artificial intelligence clout of the world’s second-largest economy sparked a wave of optimism. China Telecom Corp. stock climbed by the 10% limit in Shanghai to a record as analysts said it stands to benefit from rising capex related to the integration of DeepSeek’s new AI model. Shares of Chinese e-commerce platform operators climbed as Trump delayed suspension of the de minimis exception, temporarily retaining duty free status for low-value packages coming from the Asian country. Commodities were muted as traders waited for more details on when and how Trump’s latest tariffs would operate. Aluminum futures in London — the global benchmark — were steady, while copper was little changed. Gold edged up toward a record as investors shunned risk. Elsewhere, South Africa’s rand fell after the US froze all aid to the nation over what Trump falsely claimed were rights violations stemming from a new land-expropriation law, as well as its allegations of genocide against Israel. South Africa’s foreign ministry in a statement Saturday expressed “great concern that the foundational premise of this order lacks factual accuracy.”
Nikkei +0.04% Hang Seng +1.66% CSI +0.22% Shanghai +0.58% Shenzen +1.01%
Eur$ 1.0324 CNH 7.3099 CNY 7.3042 JPY 151.99 GBP 1.2413 CHF 0.9109 RUB 97.4909 TRY 36.0298 WTI$ 71.52 +0.75% Gold 2,888 +0.93% BTC 97;350 +2.23% ETH 2,644 +3.55%
S&P +0.24% Nasdaq +0.43% EuroStoxx +0.38% FTSE +0.11% Dax +0.15% SMI -0.02%
Macro :
- Aussie Dollar’s Drop on Trump Tariffs Charts Course for Risk
- Trump Says He Plans Reciprocal Tariffs, Will Affect ‘Everyone’
- Trump Says He Plans Reciprocal Tariffs, Will Affect ‘Everyone’
- Crypto ETF Hopefuls View SEC’s Latest Moves as Change of Pace
- Why Trump Wants Canada’s Wealth of Critical Minerals
- Trump Plans to Announce 25% Steel, Aluminum Tariffs on Monday
- Gold Shortage Hinted by Surging Lease Rate as Tariffs Fuel Flows
Keep an eye on :
- AMZN US : German Court Rules in Nokia Favor in Amazon Patent Dispute: WiWo
- AAPL UD : Apple’s Dilemma in UK Over Encryption Alarms Privacy Experts
- BIO Sw : GSK-Backed BioVersys Slides in Swiss Listing Debut After IPO
- BMW GY : BMW to Continue Investing in Combustion Engine, Hybrid Tech: FT
- BA US : Boeing to Lay Off About 400 People From Moon Rocket Program
- BP/ LN : Activist Elliott Said to Build Stake in Struggling Oil Major BP
- BP/ LN : BP Faces Pivotal Moment as Activist Investor Elliott Enters Fray
- DHER GY : Delivery Hero, Finally Profitable, Takes On Larger Asian Rivals
- DKNG US : Super Bowl’s $1.4 Billion In Bets Arrive to Lift Gambling Stocks
- ENI IM : Eni Says Conditions for Exmar Project Bonus Yet to Be Assessed
- EL US : Director bought 87000 shares at various prices from $64.57-68.80 worth ~$5724K. (65.02 +0.75)
Also, CFO bought 700 shares at $65.79 worth ~$46K.
- Ethiad IPO : Etihad Plans Float of up to 20% Stake as Early as Feb.: Times
- GTT FP : GTT Plans Elogen Unit Reorganization as CEO Choimet Resigns
- ITV LN : ITV investors back a potential deal involving UK broadcaster’s studio arm
- MBG GY : Beijing Benz Recalls 17,235 Cars on Transmission Software Faults
- NCCB SS : NCC Net Sales Beat; Starts Strategic Review of Industry Ops
- NESTE FH : Top Oil Short-Seller Target Neste Faces a Day of Reckoning
- NETC DC : Netcompany to Buy SDC for DKK1b to Expand in Banking Services
- NKE US : Nike Returns to Super Bowl Advertising for First Time in 27 Years -- WSJ
- NOKIA FH : Nokia Picks Intel’s Justin Hotard as CEO as Pekka Lundmark Exits
- PLUG Us : EV Charging Stocks Fall as Trump Administration Suspends Funds
- P911 GY : Porsche Careens Toward Trump Tariff Showdown in Weakened State
- PROX BB : Proximus CEO Boutin to Join Vodafone in May (Feb. 7)
- RNO FP : Renault reactivates talks with Foxconn over sale of Nissan stake
- RNO FP : Renault reactivates talks with Foxconn over sale of Nissan stake
- RR/ LN : Rolls Royce PLC awarded a $167.4 mln US Navy contract for production of 40 MT7 turboshaft engines
- RR/ LN : Rolls-Royce to double sourcing from India over the next five years
- 3382 JP : Seven & i’s Blended 7-Eleven and Supermarket Proves a Tough Sell
- SKAB SS : Skanska Signs Pact With Vastra Gotaland Worth About SEK550m
- TSLA US : Trump admin freezes EV charging program that gave Tesla millions - TechCrunch
- TITC BB : European Cement Maker Titan’s US Unit Shares Edge Up After IPO
- 2330 TT : TSMC January Sales Growth Slows After DeepSeek Roils Market
- X US : Trump: Nippon Steel Looking at Investment in US Steel
- X US : Japanese Investors Relieved by Warm Vibes From Ishiba and Trump
- UBER US : Ackman Says Pershing Square Owns 30.3m Shares in Uber
- VOD LN : Proximus CEO Boutin to Join Vodafone in May (Feb. 7)