Asian shares dropped after President Donald Trump ratcheted up trade tensions saying he won’t delay the July 9 deadline for imposing higher levies on trading partners. A regional stocks gauge retreated 0.4%. Japanese equities declined 1% after Trump threatened to hike tariffs on the country and deepened his criticism of Japan for not accepting US rice exports. A gauge of the dollar steadied after touching its lowest since 2022 in the prior session. Gold edged down 0.3% Wednesday after two consecutive days of gains. Investors are closely watching how Trump decides to handle the current pause on his April tariffs, which he put on hold for 90 days to allow time for talks. Stock markets - which once swung wildly on trade headlines - appear to see little risk, as equity indexes sit near all-time highs. The calm is being fueled by expectations that Trump will extend his tariff deadline based on his pattern of threatening first and backing down later. Trump for weeks has sought to exert leverage over trading partners with threats to set high levies on governments he sees as being difficult, and then back down - a strategy analysts and strategists call “TACO” for “Trump Always Chickens Out.” Lombard Odier’s Senior Macro Strategist Homin Lee tells Bloomberg TV that major Asian economies, including Japan, could still reach a trade deal by Donald Trump’s July 9 deadline, noting there is scope for agreements similar to the existing US–UK trade framework. His top economic adviser, Kevin Hassett, earlier signaled agreements would be announced after the July 4 holiday and the signing of the tax and spending bill the US Senate approved. Trump’s latest tariff comments don’t pose a major threat to Japanese stocks, said Neil Newman, head strategist at Astris Advisory Japan. Separately, Trump’s $3.3 trillion tax and spending cut bill passed the Senate after Vice President JD Vance’s tie-breaking vote. House lawmakers are returning to Washington from a holiday week to vote Wednesday on the Senate version of the bill, but face Republican resistance from moderate and ultra-conservative GOP lawmakers. In commodities, gold held an advance, after rallying 2% over the previous two sessions while oil steadied in early Wednesday trading. US After Hours Lots of positive Fed Stress resullts from banks, including dividend hikes; CNC -23.7% lower after it withdraws guidance; VRNT +10.3% higher on Bloomberg report that Thoma Bravo in talks to acquire VRNT
Nikkei -0.47% Hang Seng +0.47% CSI +0.08% Shanghai -0.06% Shenzen -0.79%
Eur$ 1.1793 CNH 7.1643 CNY 7.1664 JPY 143.64 GBP 1.3742 CHF 0.7917 RUB 78.4743 TRY 39.8504 WTI$ 65.49 +0.05% Gold 3,338 -0.02% BTC 106,608 +0.62% ETH 2,443.+1.11%
S&P +0.21% Nasdaq +0.30% EuroStoxx +0.49% FTSE +0.25% Dax +0.40% SMI +0.39%
Macro :
- Bridgewater’s Flagship Pure Alpha Fund Gains 17% in 1H: Reuters
- Japan Says US Tariff Talks Ongoing, No Comment on Trump Remarks
- Dalai Lama Confirms Institution Will Continue With Successor (1)
Keep an eye on :
Keep an eye on :
- ADP FP : Paris Air Traffic to Be Cut by 25% July 3 on Controller Strike
- AVAV US : AeroVironment Offering of 3.53m Shares Prices at $248/Share
- AGS BB : Ageas: Ageas Closes Purchase of Saga's Underwriting Business
- AIR FP : Airbus Said to Deliver About 60 Planes in June, Short of Target
- AIR FP : Airbus Said to Deliver About 60 Planes in June, Short of Target
- AZA SS : Avanza Founder Considers Taking Company Private, DI Reports
- BMED IM : Berlusconi Family Sells Monza Football Club to US Sports Adviser
- BIOV SW : Bioversys, Shionogi Enter Into Research Collaboration
- DELM SP : Canned-Food Producer Del Monte Foods Files for Bankruptcy
- DNO NO : DNO Enters North Sea Gas Offtake Agreement With Engie
- DUST SS : Dustin 3Q Ebit Beats Estimates
- ENGI FP : DNO Enters North Sea Gas Offtake Agreement With Engie
- EQT SS : EQT Said to Start Stake Sale in Radius’ €1 Billion Italian Unit
- ENX FP : Euronext Mulls Offering €6.90/Share for Athens Stock Exchange
- FCT IM : Fincantieri Set to Name Moutafis to Lead Expansion in US Market
- GS US : Goldman Plans to Boost Dividend to $4 a Share From $3 a Share
- HIK IM : Ecobat Closes Sale of Italian Business to Haiki
- IBE SM : Iberdrola to Pay Supplementary Dividend of at Least €0.404/Share
- PVH US : PVH CEO Stefan Larsson Buys $1M in Stock, Signaling Confidence in Fashion Company’s Strategy - WWD
- RECSI NO : REC Silicon Board Forms Investigative Subcommittee
- RYA ID : Ryanair June Load Factor 95%
- SFL IM : *Safilo Group in 10-Year License Agreeent for Victoria Beckham Eyewear
- SGSN SW : SGS to Buy ATS in $1.3 Billion Enterprise Value Deal
- 9984 JP : SoftBank’s Ampere Deal Now Faces a More In-Depth Review by FTC
- STLA IM : Italy June New Car Sales Fall 17.44% Y/y
- STLA US : Stellantis Sales Drop 10% in Second Quarter Despite Ram Rebound
- TASE IT : Tel Aviv Stock Exchange Holder Offers About 8M Shares: Terms
- TGS NO : TGS Awarded Offshore Wind Site Characterization Contract
- THRU LN : Thruvision Says Performance is in Line With Expectations
- UCG IM : UniCredit Moves 2Q and 1H Results Approval to July 22
- VRNT US : Thoma Bravo Is Said to Be in Talks to Acquire Verint Systems
- WIZZ LN : Wizz Air June Passengers 5.88M
- WLN FP : Worldline to Start External Audit on Risky Ops: Les Echos