Asian shares gained, led by Japan, as US President Donald Trump floated a potential pause in auto tariffs, providing further relief to the market after suspending levies on some consumer electronics. Indexes in Japan rose more than 1% with companies such as Toyota Motor Corp. and Honda Motor Co. jumping. Shares in China and Hong Kong fluctuated while futures contracts for the US and Europe pared earlier losses. Treasuries climbed, and a gauge of the dollar edged higher to trim some of its decline on Monday. Markets are consolidating as the exemptions raised hopes there may be room for negotiations after the president’s reciprocal tariffs this month wiped $10 trillion off global equities and spurred a rout in Treasuries. Still, the flip-flops are keeping investors on edge and business leaders including JPMorgan Chase & Co.’s Jamie Dimon have warned that Trump’s effort to remake the global trading order may push the US into a recession. The US also pressed forward with plans to impose tariffs on semiconductor and pharmaceutical imports by initiating trade probes led by the Commerce Department. The moves threaten to broaden the president’s sweeping trade war. In a sign that investors are worried the tariffs will send the US economy into a recession, a gauge of the dollar index declined for two weeks. Treasury yields for 10-year bonds jumped 50 basis points last week, the most in over two decades. Federal Reserve officials have lowered their outlook for growth and lifted forecasts for inflation. Deutsche Bank Global CIO Christian Nolting said there are opportunities to buy stocks if the S&P 500 index is below 5,000 levels. The bank has reduced US equities “a little bit” ahead of the tariffs announcement, but “we have also told clients not to panic” due to volatility, he said. In other moves in Asia, shares of some luxury goods makers slumped after LVMH’s sales fell more than expected in the first quarter, weighed down by weak demand for luxury goods in China and the US. In Japan, the premium that investors demand to hold 30-year government bonds over five-year notes widened to the most in over two decades as global volatility and fiscal concerns drive up super-long yields. The move came after Japan’s super-long bonds tumbled amid speculation that authorities are preparing an extra budget to support the economy earlier than usual this fiscal year. More Japanese companies including Tepco Power Grid Inc. halted planned yen bond sales as debt market volatility sparked by the global trade war made investors risk averse. The Bank of Japan will probably leave aside raising interest rates for now due to the uncertainties, according to a former executive director. The Asian nation is set for talks with the US this week. Eyes will also be on Chinese President Xi Jinping’s first overseas trip of the year, after he landed in Vietnam on Monday, with visits to Malaysia and Cambodia also scheduled. He’s expected to present his nation as a more stable partner than the US under Trump. Still, UBS AG added to a series of growth downgrades for China with the most pessimistic forecast among major banks, predicting the economy will expand just 3.4% this year as US tariffs choke exports. In commodities, oil rose after a tepid session on Monday amid the prospect of looser restrictions on Iranian crude. Gold rose to trade just below a record high in demand for safe havens. US After Hours ON +1% backs out of deal to acquire ALGM -12.6%; NFLX +1.7% sets bullish goals in WSJ report; APLD -11.7%, FBK -4.9% lower on earnings.
Nikkei +1.03% Hang Seng +0.04% CSI -0.27% Shanghai -0.24% Shenzen -0.56%
Eur$ 1.1358 CNH 7.3104 CNY 7.3073 JPY 143.07 GBP 1.3212 CHF 0.8167 RUB 82.2590 TRY 38.0378 WTI$ 61.85 +0.52% Gold 3,225 +0.44% BTC 85,560 +0.84% ETH 1,640 +0.29%
S&P -0.18% Nasdaq -0.26% EuroStoxx -0.19% FTSE +0.15% Dax +0.26% SMI -0.37%
Macro :
- EU’s Sefcovic Met With Lutnick, Greer to Discuss Tariffs
- BlackRock Positive on US Stocks but Shuns Bonds Amid Tariff Hold
- Bessent Says US Treasury Could Run Up Buybacks ‘If We Wanted’
- Bessent’s Dollar Defense Faces $3 Trillion Threat: Macro Models
Keep an eye on :
Keep an eye on :
- AGS BB : Ageas Seeks Up to $597 Million in Share Sale to Fund Esure Deal
- ALGM US : Onsemi Withdraws Proposal to Buy Allegro Microsystems - -12% in After Hours
- AMD US : AMD CEO Says Planning to Build More AI Servers in the US
- AAPL US : Apple to Analyze User Data to Bolster Struggling AI Technology
- AZA SS : Avanza 1Q Operating Income Beats Estimates
- BEI GY : Beiersdorf 1Q Organic Sales Beat Estimates
- BESI NA : Applied Materials Has Bought 9% Stake in BE Semiconductor
- CARLB DC : Carlsberg CEO Says Brewer is ‘Insulated’ from Tariff Fallout: FT
- DLAR LN : Atlas in Advanced Talks to Buy De La Rue for 130p-A-Share: Sky
- DRW3 GY : Draegerwerk Prelim 1Q Ebit EU0.4M
- DSV DC : DSV Gets All Regulatory Clearances for Acquisition of Schenker
- ERICB SS : Ericsson 1Q Adjusted Ebit Beats Estimates
- FUR NA : Fugro Sees 1Q Rev Down About 11% y/y; Confident on Ebit Target
- GLPG NA : Galapagos CFO and COO Thad Huston to Step Down From August 1
- GALP PL : Galp 1Q Refining Margin Beats Estimates
- INTC US : Silver Lake Lines Up $2 Billion Debt Financing for Altera Deal
- MC FP : LVMH 1Q Fashion & Leather Goods Organic Sales Miss Estimates - ADR -6%
- MC FP : LVMH 1Q Fashion & Leather Goods Organic Sales Miss Estimates - ADR -6%
- MC FP : LVMH Sales Fall as Shoppers Curb Spending on Louis Vuitton Bags
- MRX US : Marex Group Holders Offer 8.5m Shares
- 7201 JP : Nissan to Cut Japanese Output of Rogue SUV by 13,000: Reuters
- PUB FP : Publicis 1Q Net Revenue Beats Estimates
- RYA ID : Ryanair May Delay Boeing Deliveries Due to Trump Tariffs: FT
- SAN FP : Sanofi’s Amlitelimab Phase 2 Data Didn’t Meet Primary Endpoint
- SAN SM : PZU Not Planning Bid for Santander Poland Unit: CEO Tells Rp.pl
- SHOT SS : Scandic 1Q Net Sales Miss Estimates (1)
- SIKA SW : Sika Maintains FY Sales in Local Currencies Forecast (1)
- STLA US : Stellantis Investors Angry Over Ex-CEO’s €23.1 Million Payout
- SUN SW : Sulzer 1Q Orders CHF1.02B Vs. CHF1.02B Y/y
- TIT IM : Telecom Italia to Sell Sparkle Unit at €700m Enterprise Value
- TOM2 NA : TomTom 1Q Revenue EU140.4M Vs. EU139.3M Y/y
- VLA FP : Valneva Gets Approval for Chikungunya Vaccine in Brazil
- XXL NO : XXL Board to Consider Mandatory Offer Made by Frasers Group
- ZEAL DC : Obesity Drugmakers Rise on M&A Hopes After Pfizer Setback (1)