Asian stocks rose, led by technology shares, after President Donald Trump signaled a willingness to let US companies resume some chip sales to China and extended a trade truce with the country. MSCI’s Asia Pacific index rose 0.7% as chip shares such as Advantest Corp. rallied. Micron Technology Inc. raising its outlook and easing tensions at Intel Corp. also helped lift sentiment. Earlier, Trump indicated he’d be open to allowing Nvidia Corp. to sell a scaled-back version of its most advanced AI chip to China. Japan’s Nikkei-225 index was the standout, gaining 2.8% to a record high as stocks such as Softbank Group Corp. surged. The yen weakened for a third consecutive session while a gauge of the dollar declined 0.1%. In Australia, the central bank cut its key interest rate to 3.60% as estimated. Stocks extended their gains while the Aussie fell. Trump’s move on chip exports helped ease market concerns over escalating technology sanctions and potential supply-chain disruptions. Investors were also reassured by the extension of the tariff truce with China, which removed a key source of uncertainty ahead of US inflation data due later Tuesday. On trade, Trump extended a pause of sky-high tariffs on Chinese goods through Nov. 10, stabilizing trade ties between the world’s two largest economies. The hike was set for Tuesday. Later Tuesday, attention will shift to inflation data, which is forecast to show American consumers saw a slight pickup in inflation as retailers gradually raised prices on a variety of items subject to higher import duties. The core consumer price index in the US, regarded as a measure of underlying inflation because it strips out volatile food and energy costs, will show a 0.3% increase for July, according to the median projection in a Bloomberg survey of economists. Money markets show traders have priced in more than two rate reductions by December, with about a 90% probability of a quarter-point Fed cut next month. The latest jobs report also pointed to a sharp cooling in the labor market over the last few months. Policymakers left rates unchanged at the end of July. Meanwhile, the Fed’s two vice chairs, Michelle Bowman and Philip Jefferson, and Dallas Fed President Lorie Logan are under consideration to serve as chair of the central bank when the position opens next year, according to two administration officials. Treasury Secretary Scott Bessent will interview additional candidates in the coming weeks, said the officials. Trump named EJ Antoni, chief economist of the conservative Heritage Foundation, to lead the Bureau of Labor Statistics after firing the former head of the agency earlier this month. US After Hours BBAI -27.3%, PUBM -23%, CE -13.2%, FLNC -11.4% lower on earnings; WOW +46.9% to be taken private; HRB -0.8% names new CEO.
Nikkei +2.22% Hang Seng -0.01% CSI +0.52% Shanghai +0.47% Shenzen +0.08%
Eur$ 1.1623 CNH 7.1917 CNY 7.1873 JPY 148.39 GBP 1.3434 CHF 0.8111 RUB 79.5225 TRY 40.7178 WTI$ 64.15 +0.31% Gold 3,354 +0.36% BTC 119,800 +0.17% ETH 4,312+1.50%
S&P -0.08% Nasdaq -0.12% EuroStoxx +0.28% FTSE +0.11% Dax +0.22% SMI +0.18%
Macro :
- Trump Downplays Expectations for Summit Deal With Putin
- Fed Chair Search Expands to Include Bowman, Jefferson and Logan
- It Will Take More Than Trump to Make the ‘Euro Moment’ Last
- China’s 30-Year Yields Rise to Four-Month High on Trade Optimism
Keep an eye on :
Keep an eye on :
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- WAWI NO : Wallenius Wilhelmsen 2Q Ebit Beats Estimates