Asian stocks edged higher as optimism over more artificial intelligence spending under Donald Trump offset fears over the impact of tariffs on China. Shares in Taiwan and Japan led gains, lifted by technology stocks after Trump announced a new investment push for artificial intelligence. But Chinese shares bucked the trend, with the benchmark CSI 300 Index declining as much as 1.3% before paring losses. The broad MSCI Asia Pacific Index was up around 0.2%. The divergent fortunes of Asian stock markets underscore the difficult questions investors will be forced to weigh up over the coming months, when the Trump administration is expected to make a series of sweeping policy changes. The decline in Chinese shares came after the US president said he was still considering a 10% tariff on all goods from the country. US 10-year Treasury yields advanced one basis point after falling five basis points in the previous session. The dollar strengthened against every Group-of-10 peer. The decline in Chinese shares surprised some market participants. The country was spared the brunt of Trump’s early policy flurry, with his first big tariff comments instead targeting Canada and Mexico. Chinese Vice Premier Ding Xuexiang told the annual World Economic Forum in Davos, Switzerland, that his nation will expand its imports “to promote balanced trade.” Elsewhere in Asia, the Bank of Japan is moving toward deciding to raise interest rates at its policy meeting this week, Kyodo News reported. That supports recent speculation that the bank will hike by 25 basis points. The yen was down slightly against the greenback, part of a broad move higher by the dollar. SoftBank Group’s shares rose more than 11% after Trump named the company as a participant in the ‘Stargate’ AI joint venture. The move pushed the Japanese company’s shares to their highest level since July, and have boosted sentiment for other tech stocks. Shares of Taiwan Semiconductor Manufacturing Co. rose as much as 2.7%, while those of South Korea’s SK Hynix Inc. jumped 3.9%. Fujikura Ltd., a Japanese wire cabling company that has been one of the country’s top performers, added to its recent gains with an almost 16% rise. Data from New Zealand on Wednesday showed annual inflation was unexpectedly steady in the final three months of last year, remaining above the midpoint of the central bank’s target band. In commodities, oil declined as Trump threatened a tariff on China. Gold held near the highest since early November, with traders monitoring the outlook for the global economy. US After Hours NFLX +14.2% surges on robust earnings, net adds; UAL +3.6%, IBKR +3.2%, STX +2.5% also higher on earnings; AGYS -17.8%, WTFC -11.3%, CASH -3.7%, PRGS -3.7% lower on earnings
Nikkei +1.58% Hang Seng -1.76% CSI -0.95% Shanghai -0.91% Shenzen -1.01%
Eur$ 1.0415 CNH 7.2867 CNY 7.2806 JPY 155.83 GBP 1.2347 CHF 0.9068 RUB 99.6406 TRY 35.6451 WTI$ 75.80 -0.04% Gold 2,758 +0.48% BTC 105,710 -1.01% ETH 3,320 -0.37%
S&P +0.25% Nasdaq +0.62% EuroStoxx +0.13% FTSE +0.02% Dax +0.39% SMI +0.46%
Macro :
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- Trump Attack on Climate Rules Takes Aim at Crucial Legal Pillar
Keep an eye on :
Keep an eye on :
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