Asian stocks traded in a tight range Wednesday as investors searched for a clear direction amid weaker US consumer confidence and uncertainty about President Donald Trump’s upcoming tariffs. The MSCI Asia Pacific Index snapped a three-day decline, eking out a 0.3% gain after it lost early momentum. US copper surged to a record high as traders price in the possibility of hefty import tariffs. US and European equity-index futures were steady while the 10-year US Treasury yield edged up. The dollar was little changed after ending a four-day rally Tuesday. The Trump administration indicated earlier this month that the coming wave of US tariffs may be less expansive and more targeted than originally feared, as countries raced to secure reprieves from the coming levies. On Tuesday, Trump said he didn’t want have too many exceptions but he will “probably be more lenient than reciprocal, because if I was reciprocal, that would be that would be very tough for people.” While markets have taken some comfort from Trump’s recent comments about the “reciprocal” tariffs he is due to announce April 2, Tuesday’s US economic data adds to concerns investors have about growth in the world’s largest economy. One positive news amid the uncertainty was Morgan Stanley and Goldman Sachs Inc. strategists boosting their optimism for Chinese stocks, citing factors including improving earnings outlook. Trump is preparing a “Liberation Day” tariff announcement on April 2, unveiling so-called reciprocal tariffs he sees as retribution for levies and barriers from other countries, including longtime US allies. While the announcement would remain a very significant expansion of US tariffs, it’s shaping up as more focused than the sprawling, fully global effort Trump has otherwise mused about, officials familiar with the matter say. US tariffs on copper imports could be coming within several weeks, months earlier than the deadline for a decision, according to people familiar with the matter. The Hang Seng Tech Index of big Chinese stocks in the sector rallied as much as 1.6% on Wednesday, after falling to the brink of a correction the day before. Morgan Stanley strategists raised their 2025 year-end index targets for Chinese stocks. Similarly, strategists at Goldman Sachs expect more fundamental upside to the recent rally as more positive earnings revisions should be coming. Chinese stocks are “taking a breather, I don’t think it’s the end,” said Vey-Sern Ling, a managing director at Union Bancaire Privee. “Valuations are still cheap, government is supportive of technology and consumption. And innovation is alive and kicking.” On the geopolitical front, the US said Russia and Ukraine agreed to a ceasefire in the Black Sea, even as the Kremlin said its involvement would depend on a series of preconditions including sanctions relief. The US also “will help restore Russia’s access to the world market for agricultural and fertilizer exports, lower maritime insurance costs, and enhance access to ports and payment systems for such transactions,” according to the White House. Consumer sentiment surveys have been dismal of late as households fear a resurgence in inflation from Trump’s tariffs. Companies have warned of higher prices and less demand, coinciding with economists’ forecasts that suggest a risk of stagflation and rising odds of recession. In commodities, oil rose on Wednesday after an industry report indicated a drawdown in US inventories. Gold held near a record. US After Hours GME +5.5% higher on earnings; CMP +4% on cost structure reductions; HUMA -19.7% on stock offering.
Nikkei +0.73% Hang Seng +0.25% CSI -0.04% Shanghai +0.18% Shenzen +0.72%
Eur$ CNH CNY JPY GBP CHF RUB TRY WTI$ Gold BTC ETH
S&P -0.02% Nasdaq -0.05% EuroStoxx +0.33% FTSE +0.10% Dax +0.38% SMI +0.02%
Macro :
- Merz’s Next Big Test Is to Win Over German Conservative Skeptics
- China’s Energy Rules for Advanced Chips May Hit Nvidia Sales: FT
- Trump on April 2 Tariffs: I Have Them Set, They Will Be Fair
- Trump on April 2 Tariffs: I Have Them Set, They Will Be Fair
- Millennium Commits Capital to Hedge Fund Pleasant Lake Partners
- Erdogan Treads Carefully to Quell Protests and Calm Markets
- Quebec Sees Deeper Deficit, Slower Growth as Trade War Bites (1)
- Copper Soars on Tariff Fear, Stocks Stay Resilient: Macro Squawk
Keep an eye on :
Keep an eye on :
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- PRY IM : Prysmian Agrees to Buy Channell to Broaden US Market Push
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- UBSG SW : UBS Mulls Floating Investment Bank Cap of ~30% of Total Ops:Rtrs
- UTDI GY : United Internet Sees 2025 Sales About EU6.4B, Est. EU6.61B
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