Asian stocks rose on optimism about US and China trade negotiations Monday, while positive jobs data in the world’s largest economy eased recession fears. A regional stock gauge jumped 0.9% as technology shares advanced on Meta Platforms Inc.’s investment plans. Chinese shares listed in Hong Kong Kong advanced 1.1%, ahead of the talks in London. The index is poised to enter a bull market, trader parlance for a rise of 20% from a recent low. Yields on 10-year Treasuries dipped about 2 basis points to 4.49%, after surging Friday. The yen strengthened 0.4% against the dollar. Easing trade tensions lifted a key gauge for emerging market equities 0.7%, with the index set for its highest close since February 2022. Trade tensions appeared to recede between President Donald Trump and China’s Xi Jinping as an impasse on critical minerals was broken, paving the way for further trade talks. Adding to the optimism in the stock market was the surprise in labor data. While US job growth moderated in May and prior months were revised lower, Friday’s report narrowly exceeded forecasts. Stock markets have rebounded following a tumultuous two-month period, with the S&P 500 gaining for the fifth week in seven. Asian and European equity benchmarks have risen seven times in the past eight weeks. The main focus is on the trade negotiations. The US and Chinese negotiators are set to open their second round of trade talks Monday, the first since Trump and Xi finally broke a logjam. That’s offering a glimmer of hope that the world’s two largest economies can defuse tensions over Chinese dominance in rare-earth minerals. Lombard Odier’s Homin Lee says investors should “keep the portfolio tilt toward risk” as latest developments suggest that “we’re still in the middle of the deal making phase in the Trumpian trade policy.” Both sides had accused the other of reneging on a deal reached in May in Geneva, where they tried to start dialing back the trade war. Ahead of the talks, China granted approval to some applications for the export of rare earths. Boeing Co. has also begun shipping commercial jets to China for the first time since early April, indicating a reopening of trade flows. Later this week, attention will turn to the sale of government bonds in the US. The Treasury is set to sell $22 billion of 30-year bonds on Thursday, part of its regularly scheduled borrowings. This comes after global investor pushback against long-term government debt. Investors will also be watching US inflation print this week. Separately, China’s consumer deflation extended into a fourth month, as price wars intensified while a spending boost during two national holidays failed to offset the drag from weak domestic demand. On Friday, nonfarm payrolls increased 139,000 last month after a combined 95,000 in downward revisions to the prior two months. The unemployment rate held at 4.2%, while wage growth accelerated. The payrolls figure helped alleviate concerns of a rapid deterioration in labor demand as companies contend with higher costs related to tariffs and prospects of slower economic activity. In other trade news, a US trade team that’s currently in India for negotiations has extended its stay, according to people familiar with the matter. That’s a sign talks are progressing ahead of a July deadline.
Nikkei +0.89% Hang Seng +0.95% CSI +0.21% Shanghai +0.31% Shenzen +0.75%
Eur$ 1.1415 CNH 7.1868 CNY 7.1872 JPY 144.43 GBP 1.3553 CHF 0.8211 RUB 78.9813 TRY 39.2477 WTI$ 64.55 -0.05% Gold 3,312 +0.05% BTC 105,707 -0.47% ETH 2,492 -1.58%
S&P -0.17% Nasdaq -0.24% EuroStoxx -0.09% FTSE -0.03% Dax -0.14% SMI
Macro :
- China’s Copper Boom Under Threat as Miners Test Bargaining Power
- ECB’s Schnabel Says Now Is Right Time to Boost Role of Euro
- Dutch Far-Right Leader’s Bid for More Power Risks Flopping
- Dutch Far-Right Leader’s Bid for More Power Risks Flopping
- China Says Progress Made With EU on Electric Vehicle Price Talks
- Vance Says He Hopes Musk Returns to Fold After Feud With Trump
- US Seeks Deal in London on China Rare Earth Flows, Hassett Says
- Japan Eyes US Tariff Agreement Aligned With G-7 Summit: NHK
Keep an eye on :
Keep an eye on :
- BABA US : Alibaba, Tencent Freeze AI Tools During High-Stakes China Exam
- AAPL US : Apple's WWDC Is Here. Investors Are Still Waiting on That AI Promise.
- Amorino Private : French Gelato Maker Amorino Mulls Sale of Minor Stake: L’Informé
- ANTO LN : China’s Copper Boom Tested as Miners Wield Bargaining Power
- BA US : NASA Delays Next Flight of Boeing’s Alternative to SpaceX Dragon
- BA US : NASA Delays Next Flight of Boeing’s Alternative to SpaceX Dragon
- SATS US : EchoStar Drops on Report It’s Weighing Potential Bankruptcy - *ECHOSTAR SHARES PARE DECLINE TO 11% FROM 37%
- SATS US : Musk Looms in Ergen Fight Over EchoStar Debt: The Brink
- ENI IM : ENI, YPF Sign Deal for Participation at Argentina LNG Project
- ERICB SS : Ericsson Gets Multi-Year Managed Services Deal With Bharti
- FER SM : Ferrovial Buys a 5.06% Stake in the 407 ETR
- FRE US : Fresenius Kabi USA Recalls Ivenix Infusion Product, FDA Says
- FRE US : Fresenius Kabi USA Recalls Ivenix Infusion Product, FDA Says
- GLEN LN : China’s Copper Boom Tested as Miners Wield Bargaining Power
- GRAB US : Grab, Sea Have Expansion Potential in Vietnam, Citi Says
- KEMIRA FH : Kemira Expands Sodium Borohydride Powder Capacity in Finland
- KOJAMO FH : Kojamo to Sell 44 Residential Properties for EU242M
- META US : Meta in Talks for Scale AI Investment That Could Top $10 Billion
- MSFT US : Microsoft to rank ‘safety’ of AI models sold to cloud customers
- BMPS IM : Banca MPS Expects No Impact from Ruling on Preliminary Probe of NPL Proceedings
- Novo Banco : Lone Star’s Novo Banco Is Said to Get Bids From BPCE, CaixaBank
- NVDA US : Nvidia’s Huang to Meet German Chancellor on AI Bid: Handelsblatt
- PHR PL : Pharol Says Burlington Loan Management Increased Stake to 19.55%
- P911 GY : Porsche Mulls Doing Some Final Assembly in US to Ease Tariff Hit
- P911 GY : Porsche Dismisses Media Report Over Shifting Production to US Amid Tariff Concerns
- RNO FP : Renault In Discussions With France to Make Drones in Ukraine
- TGS NO : TGS & Oseberg Partner on Lease Data Into Analytics Platform
- TEG GY : 31.3% of TAG Immobilien Holders Opt for Scrip Dividend
- SDZ SW : Sandoz Slams Big Pharma Call for Higher Drug Prices in Europe
- STLA US : Stellantis Financial Services Securitizes Auto Loans for €1B
- NOVA US : Sunnova Energy International Files For Ch.11 Bankruptcy in Texas
- TEF SM : Telefonica, Masorange Said to Hold Early Talks on Vodafone Spain
- TEF SM : Telefonica Hires AZ Capital for Vodafone Espana Deal: Expansion
- TSLA US : Trump Wishes Musk Success With Tesla, Says Doge Helped A Lot
- TSLA US : Trump Says US Will ‘Take A Look’ at Musk’s Government Contracts
- TSLA US : Tesla’s EV Deliveries Are Seen Falling as Demand Erodes Sharply
- TSLA US : Tesla’s Leader of Optimus Humanoid Robot Program Leaves Company
- TSLA US : United Switches Off Starlink Internet on Regional Jets After Static Problem, Airline said SpaceX’s satellite-internet service generated interference after being installed on a couple dozen regional jets - WSJ
- TTE FP : TotalEnergies Said to Plan Stake Sales in US, Spain Renewables
- UBXN SW : U-Blox Confirms 2Q Revenue View After Cellular Divestment
- VOW GY : VW Investment Plan Causes Open Conflict Among Executives: WiWo