Asian stocks advanced after President Donald Trump paused import duties on a range of consumer electronics, lifting sentiment after a volatile week for markets. Gauges in the region gained along with equity-index futures for the US and Europe as Trump halted some tech levies, though he indicated a specific tariff will be announced in due course. While stocks got a temporary relief, concerns were building up in other corners of the market about the US economy with the dollar weakening to a fresh low for the year. Gold, a traditional haven asset, hit a record, indicating market participants still remain wary amid mounting confusion over Trump’s tariff agenda. US Treasury yields edged down across the curve. The pause on duties on goods from smartphones to laptop computers - most of which are made in China — offers an interim reprieve for markets ravaged by Trump’s flip-flops on trade policy. Volatility shows little signs of easing after the White House signaled separate duties on tech products, including semiconductor chips, are being planned as Trump tries to rewrite global trade rules that he says aren’t in favor of the US. The late-Friday reprieve — exempting a range of popular electronics from the 145% tariffs on China and a 10% flat rate around the globe — is temporary and a part of the longstanding plan to apply a different, specific levy to the sector, the White House said. Still, a pause in the duties indicates a willingness by Trump to compromise on a deal, according to some analysts. A gauge of Asian technology shares rose 1.5%, with gains for Samsung Electronics Co. and iPhone assembler Hon Hai Precision Industry Co. While the greenback struggled, yen optimism is spreading among hedge funds and asset managers as US tariffs drive haven demand at a time when traders are reassessing the Bank of Japan’s interest rate hike path. The yen appreciated 0.5% to just above the 142 level against the dollar, around its strongest since September. Demand for hedging against potential dollar declines jumped to a five-year high as the Trump administration’s tariff policies threaten to sap US economic exceptionalism and undermine the greenback. Citigroup Inc.’s equity strategists downgraded US stocks citing reasons include trade tensions. Federal Reserve Bank of St. Louis President Alberto Musalem said there’s a near-term risk that inflation will rise while the labor market weakens, requiring policymakers to be vigilant as they monitor the economic data. Gains for Asian stocks came after the S&P 500 jumped 1.8% on Friday following a report that a Federal Reserve official said the central bank is ready to help stabilize markets, if needed. Still, Treasury yields climbed Friday, with benchmark 10-year bonds capping their biggest weekly jump since 2001 as investors pulled back from US assets that are normally seen as a haven from financial turmoil. Asian shares slumped for a third week last week after Trump rapidly escalated his trade war with China while announcing he would delay his so-called reciprocal tariffs that adversely impacted the region. In a sign that central banks in the region are bracing for the impact, the Monetary Authority of Singapore eased its policy settings for a second straight review. China said the reprieve is a small step toward rectifying the wrongdoings and urged Washington to do more to revoke the levies. Strategists at Goldman Sachs Group Inc. cut their targets for key Chinese stock indexes for a second time this month, citing heightened trade tensions. Chinese gauges rose Monday as expectations for stronger stimulus and hopes of an eventual deal outweighed concerns over a further escalation of trade tensions. Shares of electric vehicle makers extend gains after a news report said that China is in talks with the European Union to set minimum prices on EVs made in the Asian nation, instead of tariffs. Meanwhile, the country’s exports rebounded in March as companies raced to send goods before higher tariffs kicked in. Japan at the weekend said it wasn’t planning to use its US Treasury holdings as a negotiating tool to counter US tariffs. In commodities, oil steadied above a four-year low as traders weighed the latest US moves. Goldman Sachs said the global oil market faces “large surpluses” this year and next as the trade war weighs on demand.
Nikkei +1.68% Hang Seng +1.77% CSI +0.16% Shanghai +0.62% Shenzen +0.85%
Eur$ 1.1366 CNH 7.3113 CNY 7.3077 JPY 143.01 GBP 1.3109 CHF 0.8172 RUB 83.3334 TRY 38.0130 WTI$ 61.32 Gold 3,227 -0.32% BTC 84,806 +1.59% ETH 1,635 +2.82%
S&P +1.07% Nasdaq +1.51% EuroStoxx +2.33% FTSE +1.91% Dax +2.13% SMI +2.27%
Macro :
- Lutnick Says Tariff Pause on Phones, Computers Is Temporary
- ECB Rates, China GDP, Meloni-Trump: Week Ahead April 12-18
- IMF Approves $20 Billion Extended Arrangement for Argentina
- IMF Approves $20 Billion Extended Arrangement for Argentina
- A16z in Funding Talks for Murati’s Thinking Machines Lab: Rtrs
- Goldman Sachs Rebalances US Portfolio Strategy Sector Baskets
- Punch Drunk Traders Across Asia Ready for Another Week of Drama
- China Says US Tariff Break a ‘Small Step’ to Fixing Mistake
- The VIX Defies Fears It Might Break in Latest Volatility Shock
- Trump Says Looking at Tariffs on Chips, Electronics Supply Chain
Keep an eye on :
Keep an eye on :
- AGS BB :
- ALLFG NA : KKR Said to Near Deal for OSTTRA for About $3 Billion
- GOOGL US : Alphabet, Nvidia Back Ex-OpenAI Scientist’s Startup: Reuters
- ATUS US : Altice USA: CSC Holdings Debt Talks Ended Without a Deal
- AAPL US : Lutnick Says Tariff Pause on Phones, Computers Is Temporary
- AAPL US : Apple Was on Brink of Crisis Before Trump Tariff Concession
- BNP FP : BNP Sees CET1 Ratio Hit of ~-35 Bps on ECB Decision on AXA Deal
- BP/ LN : BP Investor L&G to Vote Against Keeping Outgoing Chair on Board
- BP/ LN : BP Investor L&G to Vote Against Keeping Outgoing Chair on Board
- British Steel : British Steel’s nationalisation is a ‘likely option’, says business secretary - FT
- British Steel : Politico.eu: UK suspends some tariffs to help firms cope with Trump’s trade war
- BMY US : Bristol Says FDA Approves Additional Use for Opdivo Plus Yervoy
- CAN LN : An activist investor has urged Canal+ to set out clearer long-term performance targets and improve the communication of its strategy to the market, as its stock languishes below flotation price. - Times
- CVC NA : CVC Explored Deal for Golub Capital: FT
- DHL GY : Companies Getting ‘A Bit Tired’ of Tariff Chaos, DHL CEO Says
- DHER GY : Delivery Hero Increases Provisions for Legal Risks by €183M
- DHER GY : Delivery Hero Increases Provisions for Legal Risks by €183M
- FABG SS : Fabege 1Q Occupancy Misses Estimates
- FORTUM FH : Finnish utility explores buying part of Germany’s Uniper three years after exit
- GALD SW : Trade war could put the frown back on Botox users’ faces, Fears that pharmaceuticals could yet be hit by tariffs have sent shares sharply lower - FT
- GREEN BB : Deprez Family, Solum Plan €7.40/Shr Takeover Bid for Greenyard
- HBR LN : Letterone Investment Holds 3.3% Voting Rights in Harbour Energy
- HOLN SW : Holcim Proposes Special Dividend of 1 Amrize Shr Per Holcim Shr
- HTG LN : Activist investor out to shake up oil engineer Hunting - Times
- HTG LN : Hunting Investor Urges Return of $145m to Shareholders: Times
- KESKOB FH : Kesko March Comparable Sales +3.9%
- NEX FP : Nexans Launches Share Buyback Program for Up to 750,000 Shares
- BMPS IM : Norway’s Wealth Fund Plans to Back Paschi’s Mediobanca Bid
- PSM GY : ProSieben Now Sees FY Revenue Adjusted for Verivox EU3.7b-EU4b
- RIO LN : Rusal Seeks RUB104B From Rio Tinto in Russian Court
- ROG SW :
- SDZ SW : Sandoz Files Antitrust Lawsuit Against Amgen on Etanercept
- SAP GY : SAP Plans to Nominate René Obermann to Supervisory Board in ‘26
- SZG GY : Salzgitter Ends Talks with GP, TSR Consortium on Takeover
- SWON SW : SoftwareOne Controls ~66.2% of Crayon Shares as of April 11, SoftwareOne Amendmends Existing Crayon Total Return Swap
- SHED LN : Urban Logistics Gains on Preliminary Proposal From LondonMetric
- TEF SM : Spain’s Telefonica Sells Peru Unit to Integra Tec International
- VK FP : Vallourec in Talks With Aldebaran to Sell Serimax for €79M
- VOW GY : Volkswagen Files Recall of 313 Vehicles: NHTSA
- WON SW : SoftwareOne Gives Crayon Investors More Time to Accept Takeover