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Asahi Shimbun
4 hours ago
- Asahi Shimbun
Asian shares are mixed as Trump's tariff deadline looms, while U.S. stocks set records
People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm, July 4, 2025, in Tokyo. (AP Photo) MANILA--Asian shares were mixed Friday after U.S. stocks climbed further into record heights as the clock ticks on President Donald Trump's July 9 tariff deadline. Japan's Nikkei 225 recovered earlier losses, gaining 0.1% to 39,810.88, while South Korea's KOSPI index was fell 2% to 3,053.18. Hong Kong's Hang Seng index lost 0.8% to 23,871.03 while the Shanghai Composite index added 0.2% to 3,469.11. Australia's S&P/ASX 200 rose 0.1% to 8,603.00. India's Sensex index shed 0.2% to 83,039.77. 'Asian markets slipped into Friday like someone entering a dark alley with one eye over their shoulder — because while US equities danced higher on a sweet spotted post-payroll sugar rush, the mood in Asia was far less celebratory. The reason? That familiar, twitchy unease every time Trump gets near the tariff trigger,' Stephen Innes, managing partner at SPI Asset Management, wrote in a commentary. On Thursday, after a report showed a U.S. job market stronger than Wall Street expected, the S&P 500 rose 0.8% and set an all-time high for the fourth time in five days. The Dow Jones Industrial Average added 344 points, or 0.8%, and the Nasdaq composite gained 1%. Many of Trump's stiff proposed taxes on imports are currently on pause, but they're scheduled to kick in next week unless Trump reaches deals with other countries to lower them. In other dealings on Friday, U.S. benchmark crude was down 27 cents to $66.73 per barrel. Brent crude, the international standard, shed 39 cents to $68.41 per barrel. The U.S. dollar slid to 144.24 Japanese yen from 144.92 yen. The euro edged higher to $1.1781 from $1.1761.
Nikkei Asia
4 hours ago
- Nikkei Asia
Letter from Nikkei Asia's editor: Asia on edge as Trump tariff pause nears end
Hello from Tokyo. The deadline for the 90-day pause on additional "reciprocal" tariffs unilaterally imposed by the administration of U.S. President Donald Trump is fast approaching this coming Wednesday. While many countries have been negotiating with Washington to reduce the tariffs that exceed the baseline 10% rate already in place, the outlook remains uncertain -- except for the U.K., which has secured a deal, and Vietnam, which unexpectedly announced an agreement with the U.S. on Wednesday. As the tariff implementation nears, President Trump has intensified his criticism, especially toward Japan. Earlier this week, he declared, "I'm not sure we're going to make a deal," and accused Japan of having "ripped us off for 30, 40 years." The additional 25% tariff on automobiles is already affecting Japanese automakers. With the cost burden becoming harder to absorb, companies such as Toyota Motor and Mitsubishi Motors have decided to raise prices in the U.S. market. To help make sense of the complex and shifting Trump tariffs -- which will have significant effects across Asia -- Nikkei Asia has launched a "tariff tracker." And this coming Tuesday, just ahead of the deadline, our market team will host a live webinar to break down the expected impacts. As for what decisions President Trump -- now widely known as a flip-flopper -- will make by Wednesday, that remains to be seen. Be sure to check back with Nikkei Asia for the latest updates. My suggested reads 1. Less than a year after taking office, Thailand's youngest-ever prime minister, Paetongtarn Shinawatra, faces a political crisis. Her suspension by the Constitutional Court on Tuesday has deepened the country's turmoil and underscored the weakening of her Pheu Thai Party, founded by her father, former Prime Minister Thaksin Shinawatra. 2. Presidents of two of the Philippines' top retailers -- Robinsons Retail Holdings Inc. and SM Investments Corp. -- told Nikkei Asia that while domestic consumers are proving more resilient than expected, they are also becoming increasingly price-conscious and displaying a shift toward more deliberate spending, signaling that retailers will need to adapt to evolving consumer preferences. 3. While China and the U.S. chase ever more humanlike robots, Japan is going down a different path. The onetime leader in humanoid robots, as exemplified by SoftBank's Pepper, is now focusing on more pragmatic applications, like cat-eared waiters and cleaning bots, to address the country's severe labor crunch. As a bonus: They're cute, too. 4. Hong Kong's financial authorities injected massive liquidity into the market to keep the local currency within its pegged band, amid weakness in the U.S. dollar. This pushed borrowing costs in Hong Kong close to zero, enabling investors to exploit the U.S.-Hong Kong interest rate gap through so-called carry trades. As a result, the Hong Kong dollar swung sharply from the stronger to the weaker end of its trading band against the greenback. 5. Japanese baseball superstar Shohei Ohtani is winning global acclaim for his exploits in the U.S. major leagues. American baseball scout Jamey Storvick thinks he may have found Ohtani's Taiwanese equivalent in Lin Sheng-en, a 19-year-old phenom who hails from the Indigenous Amis people and has signed with the Cincinnati Reds. Through the lens This week's top photo pick : Anti-government protesters rally in front of the Victory Monument on June 28 in Bangkok. Thousands gathered to demand Thai Prime Minister Paetongtarn Shinawatra's resignation over a leaked phone call linked to a border dispute with Cambodia. It was the largest anti-government rally since 2023, adding pressure to the government ahead of a possible no-confidence vote. (Photo by) Check out more of our photo coverage here Wishing you a wonderful weekend! Akito Tanaka Sign up for the weekly Editor-in-chief's picks newsletter here. Follow us on LinkedIn and Instagram
Japan Today
5 hours ago
- Japan Today
Asian shares mixed as Trump's tariff deadline looms, while U.S. stocks set records
People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, July 4, 2025, in Tokyo. (AP Photo/Eugene Hoshiko) By TERESA CEROJANO Asian shares were mixed on Friday after U.S. stocks climbed further into record heights as the clock ticks on President Donald Trump's July 9 tariff deadline. Japan's Nikkei 225 fell 0.6% to 39,762.20 after earlier gains, while South Korea's KOSPI index was down 1.2% to 3,078.31. Hong Kong's Hang Seng index lost 0.6% to 23,914.44 while the Shanghai Composite index added 0.4% to 3,475.24. Australia's S&P/ASX 200 rose 0.1% to 8,609.50. India's Sensex index was up 0.1% to 83,288.73. 'Asian markets slipped into Friday like someone entering a dark alley with one eye over their shoulder — because while US equities danced higher on a sweet spotted post-payroll sugar rush, the mood in Asia was far less celebratory. The reason? That familiar, twitchy unease every time Trump gets near the tariff trigger,' Stephen Innes, managing partner at SPI Asset Management, wrote in a commentary. On Thursday, after a report showed a U.S. job market stronger than Wall Street expected, the S&P 500 rose 0.8% and set an all-time high for the fourth time in five days. The Dow Jones Industrial Average added 344 points, or 0.8%, and the Nasdaq composite gained 1%. Many of Trump's stiff proposed taxes on imports are currently on pause, but they're scheduled to kick in next week unless Trump reaches deals with other countries to lower them. In other dealings on Friday, U.S. benchmark crude was down 19 cents to $68.81 per barrel. Brent crude, the international standard, shed 30 cents to $68.50 per barrel. The U.S. dollar slid to 144.48 Japanese yen from 144.92 yen. The euro edged higher to $1.1771 from $1.1761. AP Business Writer Stan Choe contributed. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
