Shares in Asia rebounded after posting a historic loss, as Japan led gains on expectations that it will get priority in US trade talks. Treasuries gained after Monday’s sharp selloff. Benchmark gauges in Japan rose more than 5%, along with futures contracts for the US and Europe. Equities in Hong Kong and China advanced as state-linked funds scooped up assets and the central bank promised loans to help stabilize the market. Oil gained while gold climbed for the first time in four days. The dollar slipped against major peers. Volatility has surged with $10 trillion wiped off global equities after the US unveiled sweeping tariffs last week. As fears of a global recession and escalating trade war mounted, investors have been left clinging onto any signs of respite. For now though, President Donald Trump has threatened to slap an additional 50% tariffs on China, while dangling the prospects of some negotiations. Japanese shares jumped as Trump assigned two members of his cabinet to kick off bilateral trade talks after a call with Prime Minister Shigeru Ishiba. Japan appeared set to get priority over other US trading partners in talks on tariffs, putting Tokyo at the head of a long queue of nations seeking to roll back the levies. Trump made a litany of comments Monday about his planned duties on worldwide trading partners. Yet the president offered little clarity about what he is seeking in exchange for lowering duty rates — or whether he’s willing to offer relief at all. On Tuesday, China slammed the US for threatening to raise tariffs and pledged to retaliate if Washington followed through. Meanwhile, in signs that Beijing is gearing up for prolonged trade tension, its state-backed funds pledged to buy local equities and exchange-traded funds. The central bank said it will provide support to a sovereign fund when it’s necessary, in order to safeguard the stability of capital markets. It also allowed the yuan to weaken through a lower reference rate. Taiwan stocks moved further into bear territory Tuesday, with the equity benchmark falling as much as 5.4% to the lowest level in 14 months, bucking a rebound in regional peers. The selloff pressure weighed on the local market after over 900 stocks hit a limit down on Monday. In the bond market, Treasuries fell Monday, erasing a portion of their biggest weekly advance since August. The yield on the 10-year rose 19 basis points as investors liquidated profitable trades to cover equity losses. They dropped four basis points on Tuesday. Traders’ bets on how much the Federal Reserve will lower US interest rates this year have been fluctuating. At least three reductions are now reflected in overnight interest-rate swaps this year, with the first fully priced in for June. An increasing number of prominent finance executives have spoken out about the risks of Trump’s tariff policy, with billionaire Ken Griffin calling it a “huge policy mistake” by the administration. Back in Asia, the MSCI Asia Pacific Index jumped as much as 2.6%, bouncing back from the 8.7% tumble Monday, the worst on record. The 14-day relative strength index for the gauge fell below 30 on Monday, a level some investors consider as oversold. US After Hours HUM +11.8%, CVS +6.6%, UNH +5.4% higher on WSJ report that private Medicare rates to rise; AVGO +3.1% on $10 bln share repurchase program; PCRX +15% settles patent litigation; LEVI +2.6%, PLAY +2.5% on earnings.
Nikkei +5.93% Hang Seng +0.47% CSI +0.80% Shanghai +0.62% Shenzen -0.17%
Eur$ 1.0972 CNH 7.3430 CNY 7.3293 JPY 147.69 GBP1.2778 CHF 0.8570 RUB 86.2858 TRY 38.0061 WTI$ 61.62 +1.52% Gold 3,000 +0.58% BTC 80,000 +1.35% ETH 1,593 +1.45%
S&P +1.15% Nasdaq +0.94% EuroStoxx +2.47% FTSE +1.97% Dax +2.27% SMI +2.64%
Macro :
- China’s Ready for Prolonged Economic War with Trump: Teneo
- Bessent Says China is Retaliating and Isolating Itself
- Bessent Says China is Retaliating and Isolating Itself
- Trump: EU Has to Commit to Buy a Like Amount of Energy
- Jeffrey Gundlach Says Fed Not in a Position to Resume Rate Cuts
- Elon Musk’s Younger Brother Criticizes Trump’s Tariff Strategy
- Billionaires Seek to Take Companies Private Amid Market Mayhem
- Rare-Earths Miner Open to M&A to Finance Downstream Development
- Fed Frozen in Tariff Headlights Will Hurt US Assets: Macro View
- Italy Sees Possible GDP Growth Slowdown to 0.6% from 1.2%: Sole
- Singapore Likely to Revise 2025 Growth Forecast Downward
Keep an eye on :
- III LN : PE Firm 3i Said to Delay Sale of Cat Food Maker on Trump Tariffs
Keep an eye on :
- III LN : PE Firm 3i Said to Delay Sale of Cat Food Maker on Trump Tariffs
- AAPL US : Apple's India Volume Can Offset Higher China Tariffs, Sources Say - WSJ
- AAPL US : Apple Customers Dash to Stores to Buy iPhones Ahead of Tariffs
- AVGO US : Broadcom Rises on Buyback Authorization of Up to $10b Shares
- BW LPG NO : BW LPG Seeks to Buy Back Up to 3M Shares for as Much as $20M
- CVS US : CVS Health’s CFO Is Leaving as Chain Faces Activist Investor
- DANSKE DC : Danske CEO Says Bank Has Liquidity to Help Clients: Borsen
- FRE GY : Pacira Biosciences Settles US Patent Litigation for Exparel
- GLXY CN : Novogratz’s Crypto Conglomerate Galaxy Digital to List on Nasdaq
- GBX US : Greenbrier Cuts FY Revenue Forecast, Misses Estimates
- HSW LN : *HISCOX CLOSE TO NAMING NEW CHAIRMAN: SKY
- IFX GY : Infineon Technologies to Buy Marvell Unit for $2.5b Cash
- LOCO US : El Pollo Loco Receives Unsolicited Interest From Biglari Capital
- MC FP : Chanel Invests in Italian Silk Manufacturer Mantero
- MRVL US : Marvell Gains on Deal to Sell Unit to Infineon for $2.5 Billion
- Nodica IPO : Nodica Withdraws Stockholm Listing Due to Market Conditions
- NOVOB DC : Novo Nordisk to Invest BRL6.4b to Expand Unit in Brazil
- OMV AV : OMV 1Q Production Beats Estimates
- PARA US : Paramount, Trump Agree on Mediator for CBS News Case (Earlier)
- PRTC LN : Nordic Capital’s Proposed Offer for PureTech Rejected by Board
- REP SM : Repsol 1Q Upstream Production Misses Estimates
- 005930 KS : Samsung Shares Jump After Profit Gets Boost From New Galaxy S25
- SKAB SS : Skanska Gets Contract in US Worth About SEK1.1b
- STAN LN : Standard Chartered Considers African Expansion After Divestures
- STLA US : Stellantis Taps McKinsey for Help on Maserati, Alfa Romeo Moves
- TGS NO : TGS Prelim 1Q Contract Allocation 37%, Sees MC Investment $130m
- UMI BB : China puts pressure on western producers of electric car battery materials - FT
- VK FP : Vallourec to Supply Oil Country Tubular Goods to Sonatrach
- DG FP : Vinci Signs Electricity Transmission Contract in Australia