Asian stocks gained Friday ahead of the US-China trade talks expected this weekend, after an initial agreement with the UK stirred up optimism over more tariff relief. The Topix index advanced 1.3%, a gain for an 11th day that’s the longest advance since October 2017. A regional gauge of stocks rose 0.4%, putting it line for a fourth straight week of gains. Stocks in Seoul dropped after Commerce Secretary Howard Lutnick said that trade deals with South Korea and Japan could take significantly more time. An index of the dollar gained for a third day.
Investors are focused on the outcome of the weekend trade talks after US President Donald Trump said he believed the negotiations might result in tangible progress, with China making concessions. Markets took some comfort and US stocks gained Thursday as Trump pitched his trade framework with the UK as the first step in his effort to overhaul the global economy. Trump also said that promising trade news paired with Republican efforts to pass legislation extending and expanding his signature tax cuts should be reason for investor optimism.
Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer are set to meet in Switzerland with Chinese Vice Premier He Lifeng. Trump said that if talks went well, he could consider lowering the 145% tariff he has imposed on many Chinese goods. China’s export growth rose even as shipments to the US slumped sharply in the first month after Trump hit its goods with tariffs above 100%. People familiar with preparations for the talks, which are due to begin in Geneva on Saturday, said the US side has set a target of reducing tariffs below 60% as a first step that they feel China may be prepared to match. Progress in two days of scheduled discussions could see those cuts being implemented as soon as next week, they said. Meanwhile, Japan’s chief trade negotiator Ryosei Akazawa said the country and the US ave agreed that they will try and reach an agreement as soon as possible that can be announced by their leaders. Japan’s stance is unchanged in that it will continue to seek a rethink of the various tariff measures, he said. Akazawa declined to comment on Lutnick saying that the US-Japan trade negotiation will take an “enormous amount of time.” While the real game-changer would be progress with China, that’s where it gets murky, according Fawad Razaqzada at City Index and Forex.com. Elsewhere, India’s stock benchmark opened 1.4% lower amid rising tensions with Pakistan. India said it “neutralized” Pakistani drone and missile attacks targeting several military sites on Thursday night, marking an escalation in hostilities between the two nuclear-armed neighbors. In commodities, oil climbed, reflecting optimism about the potential for further US trade deals. US After Hours Busy earnings session; PINS +15.6%, GDOT +14.9%, TMDX +13.5%, TTD +11.8%, LYFT +7.8%, MCHP +7.8% higher on earnings; GMED -17.2%, REAL -11.7%, ZIP -8%, EXPE -7.8%, MNST -1.9% lower on earnings.
Nikkei +1.55% Hang Seng +0.19% CSI -0.14% Shanghai -0.15% Shenzen -0.68%
Eur$ CNH CNY JPY GBP CHF RUB TRY WTI$ Gold BTC ETH
S&P +0.09% Nasdaq +0.19% EuroStoxx +0.36% FTSE +0.35% Dax +0.36% SMI +0.56
Macro :
- India and Pakistan continue to hit each other with drones and missiles
- Trump’s Scant UK Deal Shows Limits of Frenzied Trade Strategy
- Total Power Costs on Largest US Grid Rose 44% in First Quarter
- Total Power Costs on Largest US Grid Rose 44% in First Quarter
- France’s €5b Aid for Wine & Spirit Exports to US Wins EU Nod
- Seven-Day Repo Rate Slumps to Lowest Since 2023: Inside China
- Lutnick says EU Is ‘Interesting’ Trade Challenge, Citing China
Keep an eye on :
Keep an eye on :
- AIR FP : IAG Orders 53 New Airbus, Boeing Aircraft for Long-Haul Fleet
- AKER NO : Aker 1Q Net Asset Value per Share NOK834
- AKER NO : Aker Horizons Subsidiary to Be Taken Over by Aker Subsidiary
- AAPL US : Apple Is Developing Specialized Chips for Glasses and AI Servers
- BAVA DC : Bavarian Nordic 1Q Revenue Beats Estimates; 2025 Outlook Kept
- BC8 GY : Bechtle 1Q Ebit Misses Estimates
- BHP LN : BHP-Backed SolGold Turns to Speedier Mine Plan to Woo Investors
- BPM LN : Ardonagh Unit Offers About 1.6m BP Marsh & Partners Shares
- BONAVA SS : Bonava 1Q Net Sales Miss Estimates
- BPOST BB : Bpost 1Q Adjusted Ebitda Beats Estimates
- IAG LN : British Airways Parent to Buy 30 Boeing Jets in Win for US
- BRNL NA : Brunel 1Q Revenue EU310.5M Vs. EU347.1M Y/y
- CPR IM : Campari 1Q Adjusted Ebit Misses Estimates
- CAPMAN FH : CapMan 1Q Operating Profit EU6.9M
- CLNX SM : EQT, Phoenix, Omers Ready Bid For Cellnex’s Swiss Ops: Expansion
- CLNX SM : Cellnex 1Q Revenue Misses Estimates
- COIN US : Coinbase Buys Deribit for $2.9 Billion: Financials Wrap
- CBK GY : Commerzbank 1Q Net Income Beats Estimates
- CE IM : Credito Emiliano 1Q Net Income Meets Estimates
- CTT PL : CTT 1Q Net Income EU5.5M Vs. EU7.4M Y/y
- EDP PL : EDP SA 1Q Net Income Beats Estimates
- EDPR PL : EDP Renovaveis Sees Gross Investment at About €3b in 2025
- ENEL IM : Enel 1Q Adjusted Net Income Beats Estimates, Enel Profit Boosted by Good Performance in Latin America, Spain
- EQT SS : EQT, Phoenix, Omers Ready Bid For Cellnex’s Swiss Ops: Expansion
- GF SW : Georg Fischer to Buy VAG-Group for Around CHF200M
- GUBRA DC : Gubra Maintains FY Organic Revenue Growth Forecast
- ILTY IM : Illimity Bank 1Q Operating Income EU68.2M Vs. EU74.4M Y/y
- KHC US : Kraft Heinz Asks Coffee Suppliers for Price Hike Notice: Reuters
- KRN GY : Krones 1Q Ebitda Meets Estimates
- LDO IM : Leonardo to Pay Only ‘Fair Price’ for Iveco Defense Unit: CEO
- LONN SW : Lonza Confirms 2025 Outlook; Doesn’t Expect Impact From Tariffs
- LTMC IM : Lottomatica Offering by Holder Prices at EU19.10/Share
- LUG CN : Lundin Gold 1Q Adjusted EPS Beats Estimates
- MB IM : Mediobanca 3Q Net Income Beats Estimates
- MEL SM : Melia Hotels 1Q Ebitda Misses Estimates
- META US : Meta in talks to deploy stablecoins three years after giving up on landmark crypto project
- BMPS IM : Monte Paschi 1Q Net Income Beats Estimates
- NKT DC : NKT Maintains FY Oper Ebitda Forecast
- NVDA US : Nvidia Plans Downgraded Version of H2O Chip for China: Reuters
- ORK NO : Orkla 1Q Revenue Misses Estimates
- PARA US : Paramount Global 1Q Revenue Beats Estimates
- PARA US : Paramount Global 1Q Revenue Beats Estimates
- PROX BB : Proximus 1Q Adjusted Ebitda Beats Estimates
- REN PL : REN 1Q Net Income EU14.4M Vs. EU3.7M Y/y
- RR/ LN : *Trump: We Took Tariff From 25% to 10% on Rolls Royce
- SHEL LN : Shell’s LNG Canada Plans First Exports as Soon as Late June
- SIFG NA : SIF 1Q Adjusted Ebitda EU9.6M Vs. EU8.0M Y/y
- SKAB SS : Skanska: Skanska modernizes office building in Stockholm, Sweden, for AMF Fastigheter for about SEK 440M
- SOON SW : Sonova Sees 2026 Sales +5% to +9%; New CEO
- TGS NO : TGS 1Q Pretax Profit Misses Estimates
- 2330 TT : TSMC April Sales Surge After US Tariffs Spur Device Rush Orders
- UBSG SW : UBS in Talks to Sell Hedge Fund O’Connor to Cantor Fitzgerald
- WY US : Weyerhaeuser Authorizes New $1b Share Buyback Program