The dollar advanced after US President Donald Trump said he wanted “much bigger” universal tariffs. Most Asian shares fell as concern over high valuations in the artificial-intelligence sector stretched into a second day. The US currency strengthened against all its Group-of-10 peers as the president said he wanted far larger across-the-board tariffs than the 2.5% said to be favored by new Treasury Secretary Scott Bessent, adding to signals he is preparing widespread levies to boost the US supply chain. Trump also said he would soon put tariffs on foreign-produced semiconductors, pharmaceuticals and some metals to compel producers to manufacture in the country. The MSCI Asia Pacific Index slipped 0.6% with Japan’s largest technology firms among the biggest losers. That was after US equities had tumbled Monday as a cheap AI model from Chinese startup DeepSeek sparked fears about lofty valuations. Many Asian markets, including China, South Korea and Taiwan are shut for the Lunar New Year holidays. The Bloomberg Dollar Spot Index climbed 0.4% following Trump’s latest tariff comments. The risk-sensitive Australian and New Zealand dollars both fell at least 0.5%, while the Thai baht tumbled 0.7%, leading losses in emerging Asia. China’s offshore yuan also weakened. Advantest Corp. was one of the biggest casualties among Japanese tech firms, tumbling as much as 11%. SoftBank Group Corp. slumped 6%. Chinese semiconductor-related stocks fell in Hong Kong for a second day, even as the Hang Seng Index closed marginally higher in a shortened trading day. US equity futures were little changed in Asia after Monday’s selloff. Treasuries edged lower with the 10-year yield rising two basis points to 4.55% after sinking nine basis points on Monday. In commodities, copper declined after Trump said he planned to impose import tariffs on the metal, as well as aluminum and steel, raising fears of trade wars. In the corporate world, shares of China Vanke Co. jumped as much as 14% in Hong Kong after the authorities vowed to support the developer, which reported a record loss on Monday. They closed 2.1% higher. The slide in the US equities Monday was triggered by a rise of DeepSeek’s latest AI model to the top of the Apple’s appstore. A closely watched gauge of chipmakers slid the most since March 2020, while Nvidia Corp., the poster child of the AI boom, slumped 17% in New York, wiping out $589 billion in market value, the most ever for a single stock. Chinese investors have much to ponder as they start their Lunar New Year holidays that last until next Tuesday. The nation’s economic activity unexpectedly faltered to start the year, breaking the momentum of a recovery sparked by stimulus measures and underlining the need for Beijing to do more to prevent another slowdown. Global traders’ focus will be on earnings announcements from the likes of Microsoft and Apple this week to restore confidence in the so-called Magnificent Seven group of companies. Investors are heading into yet another pivotal Big Tech earnings cycle with the companies’ shares near record highs and valuations stretched. A key distinction this time: The group’s profit growth is projected to come in at the slowest pace in in almost two years.
Nikkei -1.39% Hang Seng +0.14% CSI Closed Shanghai Closed Shenzen Closed
Eur$ 1.0430 CNH 7.2767 CNY 7.2446 JPY 155.62 GBP 1.2452 CHF 0.9049 RUB 97.2139 TRY 35.7605 WTI$ 73.49 +0.44% Gold 2,742 BTC 102,912 +1.55% ETH 3,207 +1.51%
S&P -0.13% Nasdaq +0.09% EuroStoxx +0.04% FTSE +0.05% Dax +0.38% SMI +0.12%
Macro :
- Ray Dalio Says AI ‘Bubble’ Resembles Build-Up to Dotcom Bust: FT
- Trump Says He’ll Place Tariffs on Chips, Drugs, Some Metals
- DeepSeek’s Sudden Fame Strains Its Systems and Draws Attacks (2)
Keep an eye on :
Keep an eye on :
- AIR FP : Airbus Helicopters Won 455 Gross Orders, 450 Net in 2024
- AIR FP : Cathay Said to Tap Airbus, Boeing for New Widebody Jet Order
- AKRO US : Akero Soars After Liver Drug Reverses Cirrhosis in Study, Akero Therapeutics Offers $300 Million Shares
- ALFEN NA : Alfen in Pact With FlevoBESS for Battery Energy Storage System
- AZN LN : Enhertu Approved in US for HER2 Ultralow Breast Cancer
- BAMI IM : Banco BPM to Sell €350 Million of Bad Loans Via Partial Demerger
- BG AV : Bawag Extends CEO Anas Abuzaakouk Through 2029
- BNP FP : *BNP PARIBAS PLANS TO LIFT INVESTMENT BANK BONUSES BY ABOUT 5%
- CPRI US : Diesel Brand Owner Could Join Race to Buy Versace: Stampa
- COTN SW : Comet Prelim FY Sales About CHF445M, Est. CHF439.5M
- EUZ GY : Eckert & Ziegler Prelim FY Revenue About EU295M
- ENEL IM : Enel, KKR Among Potential Bidders for UK’s Cubico: Reuters
- ENEL IM : Enel, KKR Among Potential Bidders for UK’s Cubico: Reuters
- ENX FP : Euronext to Buy Nasdaq’s Nordic Power Futures Ops; No Terms
- FNTN GY : Freenet Names Robin John Andes Harries CEO to Succeed Vilanek
- GET FP : Getlink FY Revenue Meets Estimates
- GETIB SS : Getinge 4Q Net Sales Beats Estimates
- GTT FP : GTT Gets Samsung Heavy Order for Tank Design of Three Carriers
- INGA NA : ING to Sell Business in Russia to Global Development JSC
- KINVB SS : Kinnevik Invests $37m in TravelPerk’s Recent Funding Round
- LHA GY : Lufthansa Is Frontrunner to Buy 20% of Air Europa: Economista
- MC FP : LVMH Sells Stella McCartney Stake Back to Founder After Downturn
- MBTN SW : Meyer Burger Sells Unit Pasan; No Terms Disclosed
- MSFT US : Trump Says Microsoft Eyeing TikTok Bid to Keep App in US
- MSFT US : OpenAI’s Altman Says DeepSeek’s R1 Impressive at Its Price Point
- NETC DC : Netcompany FY Revenue Meets Estimates
- Novo Banco : Lone Star Values Novo Banco at About €5b, Negocios Reports
- OPM FP : OPmobility to Cancel 1.5M Treasury Shares or 1.03% of Capital
- RSGN SW : R&S Group Holder Offers Shares: Terms
- RSGN SW : R&S Group Holder Offers Shares: Terms
- RNO FP : Renault, Geely Near Brazil EV Cooperation Deal, Les Echos Says
- ROG SW : Roche’s Itovebi INAVO120 Study Met Key Secondary Endpoint
- SAP GY : SAP 4Q Non-IFRS Cloud Revenue Meets Estimates
- SAP GY : SAP Cloud Growth Tops Estimates as Clients Seek AI Tools
- DIM FP : Sartorius Stedim FY Revenue Meets Estimates
- SRT GY : Sartorius Sees Moderate Sales Increase in 2025
- ENR GY : Siemens Energy Prelim 1Q Revenue Beats Estimates
- SNI NO : Golnar LNG to Sell Avenir LNG Stake to Stolt-Nielsen for $40m
- UHR SW : Short Sellers Circle Swatch With Analysts Most Bearish in Years
- UBI FP : Ubisoft to Cut 185 Jobs as Part of Plan to Lower Costs
- UCG IM : UniCredit Clarifies BPM Bid Conditions After Consob Request
- VAR NO : Var Energi 4Q Avg Production 278,000 BOE/D Vs. 225,000 Y/y
- WCH GY : Wacker Chemie Prelim FY Ebitda Beats Estimates
- WEW GY : Westwing Group Prelim FY Revenue High End of EU415M to EU445M