President Donald Trump announced Tuesday that Scott Bessent has declined consideration for Federal Reserve Chair while praising "both Kevins" - Kevin Warsh and Kevin Hassett - as "very good" candidates for the position. Speaking on CNBC, Trump reiterated his criticism that current Fed Chair Jerome Powell has been "too late to cut rates" and mentioned he has "two other people aside from the two Kevins in mind" for the position. The president warned he would impose a 35% tariff on European Union goods if the bloc "doesn't meet obligations" following recent trade deals with the EU and...
Japan stocks were higher after the close on Tuesday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 0.58%. The best performers of the session on the Nikkei 225 were Kawasaki Heavy Industries, Ltd. (TYO:7012), which rose 4.61% or 438.00 points to trade at 9,949.00 at the close. Meanwhile, TDK Corp (TYO:6762) added 3.12% or 47.50 points to end at 1,570.50 and Furukawa Electric Co., Ltd. (TYO:5801) was up 3.03% or 197.00 points to 6,695.00 in late trade. The worst performers of the session were Rakuten Inc (TYO:4755),...
Hong Kong stocks added 35 points or 0.15% in early trade on Tuesday, hovering near 23,312 after a sharp drop in the previous session. Investors reacted to fresh data from China showing industrial profits rose 1.4% in the first four months of 2025, up from 0.8% in Q1, as Beijing ramped up efforts to support the sluggish economy and counter rising trade risks. On the trade front, Hong Kong's exports jumped 14.7% in April, but imports rose a faster 15.8%, widening the trade gap. Meanwhile, Fitch Ratings affirmed Hong Kong's long-term foreign currency issuer default rating at AA- with a...
Asia-Pacific markets traded mixed Tuesday as investors continued to assess global trade climate with U.S. President Donald Trump deferring 50% tariffs on European Union imports. Japan's benchmark Nikkei 225 fell 0.21% while the broader Topix index was flat. In South Korea, the Kospi index declined 0.45%, reversing course from its three-month high in Monday's session, while the small-cap Kosdaq was flat. Mainland China's CSI 300 index rose 0.1% while Hong Kong's Hang Seng Index was up 0.2%. China's industrial profits rose 1.4% in April, compared to 0.8% the month before. Over in...
Japanese stocks are lower as uncertainty over U.S. trade policy continues. Electronics stocks are leading declines. Renesas Electronics declines 1.5% and Keyence is 1.0% lower. Japanese government bond yields decline across the curve. The 10-year yield falls 2 basis points at 1.485% and the 40-year yield is down 10 basis points at 3.435%. USD/JPY is at 142.41, down from 142.77 as of Monday's Tokyo stock market close. Investors are closely watching any developments related to U.S. tariffs. The Nikkei Stock Average fell 0.2% to 37462.07 Source: Bloomberg
US stock futures jumped on Tuesday after President Donald Trump announced over the holiday weekend that he would postpone the implementation of a 50% tariff on European Union goods, extending the deadline to July 9. The decision follows a volatile week for financial markets, driven by growing concerns over the US fiscal outlook and persistent trade uncertainties. Last week, the Dow dropped 2.47%, the S&P 500 fell 2.61%, and the Nasdaq Composite lost 2.47%. Apple shares were particularly hard hit, plunging 7.57% after Trump warned that iPhones sold in the US must be manufactured...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
It...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
President Donald Trump said Treasury Secretary Scott Bessent told him he did not want to be nominated to replace Jerome Powell as the next chair of the Federal...