Asian shares were poised for their worst drop in a month as concerns about upcoming US tariffs and a widening trade war weighed on investor risk appetite. Gold rose to a record on demand for safe havens. A regional gauge of equities fell 1.3% and Taiwan’s index touched the lowest level since September as technology companies weighed. Japanese shares dropped partly due to Friday being the ex-dividend date for most companies in the fiscal year-end. Cryptocurrencies retreated and yields on the 10-year US Treasury fell slightly. Equity-index futures for Europe showed stocks may be under pressure while contracts for US were little changed. From New York to London and Hong Kong, investors are cutting back risk ahead of President Donald Trump’s plan to announce so-called ‘reciprocal tariffs’ on April 2, after slapping levies on imports of all automobiles into the country. Traders, already wary of how the moves will impact inflation and growth in the US economy, are chalking up different strategies to deal with the situation. Trump, who has touted his April 2 announcement on tariffs as a ‘Liberation Day,’ escalated his trade war this week by slapping a 25% tariff on all cars not made in the US. Reciprocal duties that are set to be announced next week will be “very lenient,” he said. All around the world, money managers say they’re turning neutral, stepping back or de-risking their portfolios. Volumes in Treasuries have fallen as traders refrain from taking big positions, with some looking to options trades for insurance before Trump unveils the levies next week. Following data showing the US economy picked up pace in the fourth quarter, investors will now get another chance to gauge economic health on Friday when US personal consumption expenditures price index, or PCE, is unveiled. It’s the Federal Reserve’s preferred measure of underlying inflation. The 30-year US yield exceeded its five-year equivalent by the widest gap since early 2022, with shorter-maturity bonds more impacted by the prospect of potential Fed interest-rate cuts should US growth slow. The net result in the bond market is a so-called steeper curve. Long-maturity Treasury yields reached the highest levels in a month Thursday as investors demanded compensation for the risk that tariffs will spur US inflation. Fed Bank of Boston President Susan Collins said tariffs will likely cause price pressures in the near term, but it was unclear how long that would last. In Japan, inflation in Tokyo accelerated, keeping the Bank of Japan on track for gradual interest rate hikes. The yen gained against the dollar following the report, strengthening to around the 150.70 level. Australian stocks were little changed after the country announced national election will be held on May 3. In corporate news, Nio Inc.’s Hong Kong-listed shares fell as much as 8.1% after the Chinese electric vehicle maker’s $518 million share placement. In commodities, oil headed for a third weekly advance as the market braced for more tariffs from the Trump administration. Bullion gained as much as 0.7% on Friday to an all-time high of more than $3,077.60 an ounce. Several major banks have raised their price targets for the precious metal, with Goldman Sachs Group Inc. this week ramping up its forecast to $3,300 an ounce by year-end. US After Hours BRZE +9.5% higher on earnings and M&A news; LULU -10.5% and OXM -9.7% fall on weak guidance.
Nikkei -1.80% Hang Seng -0.65% CSI -0.40% Shanghai -0.60% Shenzen -0.81%
Eur$ 1.0784 CNH 7.2713 CNY 7.2636 JPY 150.66 GBP 1.2940 CHF 0.8823 RUB 84.4307 TRY 38.0131 WTI$ 69.83 -0.11% Gold 3,082 +0.82% BTC 85,852 -1.69% ETH 1,917 -4.51%
S&P -0.10% Nasdaq -0.24% % EuroStoxx -0.63% FTSE -0.10% % Dax -0.39% SMI -
Macro :
- EU Mulls Changes to Energy Laws in Drive to Cut Red Tape: Rtrs
- Denmark, Italy, Slovenia: Credit Ratings Review for April 4
- China Wants to Work With EU to Strengthen Dialogue: Vice Premier
Keep an eye on :
Keep an eye on :
- 4C SS : 4c Group Offers SEK55 million Shares via ABG Sundal Collier
- ABI BB : AB InBev ADRs Rises As Argus Raised to Buy on Sales Growth
- ADP FP : Paris Airport Operator Says Pricey Plane Tickets Will Hit Demand
- AMS LN : Advanced Medical Solutions Not in Receipt of Montagu Proposal
- MT NA : Lakshmi Mittal Could Leave UK After Non-Domicile Tax Change: FT
- BARC LN : Blackstone-Backed Compliance Tech Firm ISN Mulls $6 Billion Sale
- 1211 GH : BYD -0.39%,
- CO FP : Auchan Signs Deal With Rocca With View to Buying Corsica Stores
- CRWV US : CoreWeave Prices IPO of 37.5m Shares at $40 Each (1)
- DBV FP : DBV Tech to Receive Up to $306.9m Financing for Viaskinà.35%
- DMP GY : Dermapharm Maintains 2025 Adjusted Ebitda Forecast
- GCO SM : Catalana Occidente Main Holder Inoc Launches Takeover Offer
- GOGL US : Golden Ocean Shares Rise as Much as 4.1% on Heavy Volume
- HAL NA : HAL FY Net Income EU1.21B Vs. EU1.00B Y/y
- HOLN SW : Holcim Sees Average Annual Recurring Ebit Growth 6%-10% in 2030
- INPST NA : InPost 4Q Adjusted Ebitda Beats Estimates (1)
- IOS GY : Ionos Group Holder WP XII Venture Offers About 12.1m Shrs: Terms, IONOS Group Offering by Holder Prices at EU24.55/Share: Terms
- LHA GY : ITA Air Flight to Tel Aviv Alters Course Due to Houthi Missiles
- MRK GY : Merck KGaA Exercises Option for Pimicotinib Commercialization
- MUL LN : Mulberry Commercial Chief Is Latest Exec to Exit Handbag Maker
- NEL NO : Nel Gets Order From Collins Aerospace for US Navy Stacks
- OHLA SM : Spanish Builder Ohla Says Four Board Members Quit
- PIRC IM : Pirelli Postpones Shareholder Meeting to June 12; Was May 27
- PIRC IM : Pirelli Postpones Shareholder Meeting to June 12; Was May 27
- PIRC IM : Pirelli Works to Comply With US Rules Targeting China: CEO
- P911 GY : Porsche Has Nowhere to Hide as Trump Unleashes Next Tariff Wave
- 1913 HK : Prada -1%
- SFQ GY : SAF-Holland Targets Adjusted Ebit Margin of 10%-12% in 2030
- SAN FP : Sanofi: Dupixent Approved in Japan for Patients With COPD
SMWS LN : Smiths News PLC Sees Earnings in Line With Market Expectations
- GLE FP :SocGen Taps Macron’s Top Adviser to Head Investment Banking
- SLNO US : Tiny Drugmaker Soars on FDA Win to Treat Never-Ending Hunger (1)
- UBI FP : Ubisoft Carves Out Top Games Unit; Tencent to Get 25% Stake, *UBISOFT ENTERTAINMENT ADRS JUMP AS MUCH AS 13%
- UNI IM : Unipol Targets €3.8b Cumulative Net in 2025-2027 Plan
- X US : Nippon Steel Offers Investment Boost to Win US Steel: Semafor