Asian stocks rose for the first time in four days after data showed the US labor market is holding up, easing concerns President Donald Trump’s tariff war is pushing the world economy into a downturn. A regional gauge climbed 0.8%, with South Korea’s Kospi Index jumping 2.5% after the country elected a new president, capping six months of political chaos. The dollar edged down 0.1% and yield on the 10-year Treasuries dipped 1 basis point to 4.44%. Equity-index futures for the US were little changed while those for European shares rose 0.2%. Asian chip shares tracked their US peers higher on recovering AI trade. Just days ahead of the US payrolls report, an unexpected increase in job openings buoyed market sentiment, sending the S&P 500 and the Nasdaq 100 higher. That helped offset investor angst after the Paris-based OECD said Trump’s combative trade policies have tipped the world economy into a downturn, with the US among the hardest hit. The rise in job openings reinforced the Federal Reserve’s assertion that the labor market is in a good place. While some economists fear a more notable weakening in coming months under the weight of tariffs, that hasn’t shown up in the data yet, supporting officials’ posture to keep rates steady. The swaps market continued to price in two Federal Reserve rate reductions this year beginning in October. However, traders are ramping up bets that hedge against dramatic shifts in the path as questions on the economic impact of Trump’s administration evolving policies persist. On the trade front, the US reiterated that Trump and Chinese President Xi Jinping will talk “very soon.” The administration is actively monitoring China’s compliance with the Geneva trade agreement, White House Press Secretary Karoline Leavitt said. The Office of the US Trade Representative has sent letters to trading partners to remind them of an upcoming deadline in negotiations, according to the White House. Commerce Secretary Howard Lutnick said he’s “very optimistic” about prospects for a deal between the US and India. South Korea’s equity benchmark climbed and is on track to enter a bull market, after Lee Jae-myung’s widely expected win in the presidential election ended a months-long political leadership vacuum. Meanwhile, Asian nuclear-related shares gained after Constellation Energy agreed to sell power from an operating plant in Illinois to Meta. Chip shares in Asia climbed after Nvidia and the Philadelphia Semiconductor Index advanced to their highest levels in several months on a continued return of enthusiasm for the AI trade. In Asian corporate news, Toyota Industries Corp. shares slumped as much as 13% — the most in nine months — after a privatization deal. The proposal drew sharp criticism from investors and analysts, who say the plan significantly undervalues the company. Separately, Trump raised steel and aluminum tariffs to 50% from 25%, following through on a pledge to boost US import taxes to help domestic manufacturers. Trump cast the move, which took effect at 12:01 a.m. Washington time on Wednesday, as necessary to protect national security.
In other commodities, oil steadied after gaining for two days. US After Hours GWRE +8.9%, HQY +5.1%, LITE +4.3%, HPE +3.1% higher on earnings/guidance; ASAN -6.6%, CRWD -5.7% lower on earnings.
Nikkei +0.93% Hang Seng +0.54% CSI +0.49% Shanghai +0.40% Shenzen +0.83%
Eur$ 1.1360 CNH 7.1946 CNY 7.1927 JPY 144.28 GBP 1.3504 CHF 0.8428 RUB 79.1449 TRY 39.1394 WTI$ 63.11 -0.47% Gold 3,349.90 -0.10% BTC 105,449 -0.34% ETH 2,626 +0.35%
S&P -0.05% Nasdaq -0.07% EuroStoxx +0.50% FTSE +0.09% Dax +0.53% SMI +0.41%
Macro :
- Class 8 Truck North American Orders Fall 37% YoY in May
- Data Centers Added $9.4 Billion in Costs on Biggest US Grid
- Trump-Tied ‘Truth Social Bitcoin ETF’ Inches Closer After Filing
Keep an eye on :
Keep an eye on :
- AIR FP : China Considers Ordering Hundreds of Airbus Jets in Major Deal
- BAYN GY : Bayer Gets FDA OK for Nubeqa Without Chemo in Prostate Cancer
- CAMX SS : Camurus, Lilly Sign Up tp $870m Deal for Incretin Therapies
- CATL IM : Caltagirone Seeks Delay of Mediobanca Shareholders’ Meeting
- CVC NA : Apollo, ICG Study Bids for CVC’s Bip, Sole Reports
- EXENS FP : Exosens Holders Offer 2.6m Shares: Terms
- EXENS FP : Exosens Holders Offer 2.6m Shares: Terms
- FWRG US : Advent Said to Offer Up to $67.5 Million of First Watch Shares
- HPE US : HP Enterprise Narrows FY Adjusted EPS Forecast: Snapshot
- BAER SW : Julius Baer shutters Qatar office, prepares Abu Dhabi launch
- JUVE IM : Juventus, Football Director Giuntoli Terminate Contract
- LLOY LN : Lloyds Exec Jo Harris Set to Leave Bank End-June: FT
- LOGICA SS : Logistea Offering of 36m Shares Prices, Logistea Offering of Shares by Holder Prices at SEK13.90/Share
- MANTA FH : Mandatum Sets New Target of ROE Above 20% for 2025–2028
- MRUS US : Biotech Firm Merus Said to Seek $250 Million in Share Sale
- MRNA US : Moderna Agrees to Placebo-Controlled Covid Vaccine Trial: RFK Jr
- NAS NO : Norwegian Air Holder Offers Shares
- NAS NO : Norwegian Air Holder Offers Shares
- NIO US : NIO Rises as EV Maker to Cut R&D Costs For Break-Even Target
- OSSD SS : OssDsign Offers Shares via DNB Carnegie Holding to Trade June 4, OssDsign Offering of 11.5m Shares Prices at SEK13.75/Share
- PSHD LN : Pershing Square Holdings May Net Performance +10.8%
- RKT LN : Reckitt Eyes New Options to Advance Essential Home Sale: Reuters
- RCO FP : Remy Cointreau FY Current Operating Income Meets Estimates, *REMY COINTREAU WITHDRAWS 2029-30 GUIDANCE
- ROG SW : Roche Says EU Commission Approves New Evrysdi Tablet Formulation
- SAN SM : Santander Reconsiders Accounting Hire Accused of Fraud by Itau
- SGSN SW : SGS Buys H2Safety in North America, No Terms
- SIKA SW : Sika Makes ‘Strategic’ Investment in Giatec Scientific
- Space X : SpaceX 2025 Revenue Is Around $15.5 Billion, Musk Says
- STLA IM : Italy May New Car Sales Fall 0.16% Y/y
- THEON NA : Theon International Holder Venetus Offers Shares: Terms
- RIG US : Transocean Sees $1.1B to $1.2B Non-Cash Charge in 2Q Results
- SWECB SS : Sweco Offers SEK15/Share for Projektengagemang Sweden
- VLA FP : Valneva Chief Business Officer, Co-Founder Grimaud to Leave
- VOE AV : Voestalpine FY Net Income Misses Estimates