Asian currencies advanced amid broad weakness in the dollar and US assets as investors awaited further progress on trade deals. Crude oil slumped 3.6% after OPEC+ agreed to a further surge in output. A gauge of regional currencies rose, with the Taiwan dollar surging as much as 5% in the biggest intraday gain in over three decades, and the Malaysian ringgit rising 1% to the highest since October. The dollar declined for a second day and US equity-index futures dropped 0.7%, after President Donald Trump said he had no plans to talk to his Chinese counterpart this week. Gold rallied as much 1%. There’s no cash trading in Treasuries in Asia as Japan is closed for a holiday, along with markets in Hong Kong and China. A combination of repatriation buying and traders seeking alternative investments amid the “sell America” wave has helped Asian currencies strengthen recently. Financial markets have steadied in the past two weeks - the S&P 500 on Friday posted its longest winning streak in two decades - amid signs that talks with Asian nations are progressing and trade tensions between China and the US are thawing. After several days of rally built on hopes of trade deals and policy clarity, markets are now digesting the complexity of achieving comprehensive trade agreements, which suggest prolonged uncertainty impacting business decisions, she said. Trump suggested that his administration could soon strike trade deals with some countries. The president also said in an interview Sunday on NBC that he’s willing to lower the tariff on Chinese imports to spur trade. He also signaled that his aides are having conversations with counterparts from China. Last week, the Asian nation said it’s evaluating talks with the US. The currency strength in Asia has traders on watch for more signs of central bank intervention to protect their currencies from a further rapid appreciation. Speculators have turned the most bearish against the dollar since September. The Taiwan dollar jumped to the strongest level in about three years on speculation exporters are rushing to convert their holdings of the greenback to the island’s currency. Last week, the Taiwanese central bank had intervened as the currency soared. On Friday, Hong Kong stepped in for the first time since 2020 to defend its peg, buying a record amount of US dollars after the city’s currency rose to the upper end of its trading band. The Hong Kong dollar tested the strong end of its allowable trading band for a second session Monday. The Australian dollar edged higher after Prime Minister Anthony Albanese won a strong mandate to tackle much-needed economic reform and bargain with the Trump administration on tariffs. The Singapore dollar strengthened after the ruling People’s Action Party also secured a convincing victory at the weekend’s election. Meanwhile, the OPEC+ major production increase added to supply at a time when demand is challenged by the drag from the trade war. The alliance — led by Saudi Arabia and Russia — has been reversing prolonged output curbs that were meant to support prices, but which cost it market share to rival drillers. In corporate news, Shell Plc is working with advisers to evaluate a potential acquisition of BP Plc, though it’s waiting for further stock and oil price declines before deciding whether to pursue a bid, according to people familiar with the matter. Shell may also wait for BP to reach out or for another suitor to make a first move, and its current work may help get prepared for such a scenario, they said. Warren Buffett, who built Berkshire Hathaway Inc. into a business valued at more than $1.16 trillion and himself into a celebrity billionaire renowned for his investing acumen and witticisms, will step down at year-end after six decades atop the conglomerate. Greg Abel, the vice chairman for non-insurance operations, will take charge of the conglomerate. This week, US Treasury Secretary Scott Bessent is set to testify in Congress on fiscal and economy policy and the Bank of England and the Fed will give policy decisions.
Nikkei Closed Hang Seng Closed CSI Closed Shanghai Closed Shenzen Closed
Eur$ 1.1340 CNH 7.2000 CNY 7.2713 JPY 144.10 GBP 1.3299 CHF 0.8232 RUB 82.8080 TRY 38.5822 WTI$ 55.97 -3.98% Gold 3,259.50 +0.58% BTC 94,431 -1.36% ETH 1,806 -1.70%
Dow -0.69% S&P -0.71% Nasdaq -0.69% EuroStoxx -0.15% FTSE Closed Dax -0.08% SMI -0.29%
Macro :
- US Prepares Air-Traffic Overhaul as Vulnerabilities Rock Newark
- Atlas Holdings Raises Over $6.4 Billion to Back Troubled Companies -- WSJ
- Dubai Ruler’s Investment Firm Plans to List Residential REIT
- Billionaire Nassef Sawiris Says Private Equity Past Its Peak: FT
- Trump Plans 100% Tariff on Foreign Movies, Escalating Trade War
- George Simion takes decisive lead in Romanian presidential election first round
Keep an eye on :
Keep an eye on :
- ADS GY : Nike, Adidas Call on Trump to Exempt Footwear From Tariffs
- AAL LN : De Beers chief says Donald Trump’s diamond tariffs are of no benefit to US jobs
- AAPL US : Apple Strikes Deal With Anthropic on AI System to Write Software
- AAPL US : Apple Plans iPhone Release Schedule Shakeup, New Styles
- SLBEN PL : Novo Banco to Auction 3.28% Stake in Benfica SAD, Negocios Says
- BMW GY : BMW ends 180 agency staff contracts at Mini factory in Oxford
- BRK/A US : BRK/A 1Q Operating Earnings $9.64B Vs. $11.22B Y/y: Snapshot
- BRK/A US : Buffett’s Exit to Lift Energy Executive Abel to Berkshire CEO
- BA US : FAA Adopting New Airworthiness Directive for All Boeing 747S
- BP/ LN : Shell Is Said to Study Merits of BP Deal as Rival’s Stock Slumps
- IAG LN : British Airways says suspending Tel Aviv flights until May 7 after airport strike
- CAN LN : Trump Plans 100% Tariff on Foreign Movies, Escalating Trade War
- CARLB DC : Carlsberg CEO Says Brewer Won’t Invest Too Much in China: Borsen
- ETL FP : Eutelsat Names Fallacher as CEO, Confirms FY Targets
- LHA GY : Lufthansa says suspending Tel Aviv flights to May 6 after airport attack
- NKE US : Nike, Adidas Call on Trump to Exempt Footwear From Tariffs
- NOVOB DC : Novo’s New Drug Application for Oral Wegovy Accepted by US FDA
- NOVOB DC : Novo’s New Drug Application for Oral Wegovy Accepted by US FDA
- RATOB SS : Ratos 1Q Operating Profit From Continuing Ops Beats Estimates
- REN PL : Portuguese Electricity Demand Rose 0.9% in April, REN Says
- SHEL LN : Shell Is Said to Study Merits of BP Deal as Rival’s Stock Slumps
- SKAB SS : Skanska Gets SEK880m Order to Rebuild Part of Lundbyleden
- STM GY : Stabilus 2Q Adjusted Ebit EU37.7M Vs. EU38.9M Y/y
- TTMT IN : Jaguar Land Rover restarts US car exports amid fears of Trump tariff snub
- TEF SM : Telefonica Chairman Mulls Up to 5,000 Job Cuts: El Confidencial
- TSLA US : Musk at Milken Says AI Can Offset Losing Some Government Workers
- UBER US : Uber has Withdrawn Interest for Gensol’s Blusmart EVs: Mint
- VOD LN : Vodafone Idea Amends Shareholder Agreement to Retain Control
- WBD IM : Webuild Wins $147 Million Arbitration Award Against Argentina