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Yahoo
2 days ago
- Business
- Yahoo
3 Asian Penny Stocks With Market Caps Over US$100M
Amid favorable trade deal news, Asian markets have been buoyant, reflecting optimism across various indices. Penny stocks, a term that may seem outdated but remains relevant, often represent smaller or newer companies with potential for growth. By focusing on those with strong financials and clear growth trajectories, investors can find opportunities in this niche market segment. Top 10 Penny Stocks In Asia Name Share Price Market Cap Financial Health Rating Food Moments (SET:FM) THB4.02 THB3.97B ★★★★★☆ JBM (Healthcare) (SEHK:2161) HK$2.95 HK$2.4B ★★★★★★ Lever Style (SEHK:1346) HK$1.46 HK$921.19M ★★★★★★ TK Group (Holdings) (SEHK:2283) HK$2.51 HK$2.09B ★★★★★★ CNMC Goldmine Holdings (Catalist:5TP) SGD0.485 SGD196.57M ★★★★★☆ Goodbaby International Holdings (SEHK:1086) HK$1.20 HK$2B ★★★★★★ China Sunsine Chemical Holdings (SGX:QES) SGD0.70 SGD667.37M ★★★★★★ Yangzijiang Shipbuilding (Holdings) (SGX:BS6) SGD2.54 SGD10B ★★★★★☆ Ekarat Engineering (SET:AKR) THB0.95 THB1.4B ★★★★★★ Livestock Improvement (NZSE:LIC) NZ$0.95 NZ$135.23M ★★★★★★ Click here to see the full list of 970 stocks from our Asian Penny Stocks screener. We're going to check out a few of the best picks from our screener tool. Midland Holdings Simply Wall St Financial Health Rating: ★★★★★★ Overview: Midland Holdings Limited is an investment holding company that offers property agency services in Hong Kong, Macau, and Mainland China, with a market cap of HK$1.32 billion. Operations: The company's revenue is primarily derived from its property agency services, with HK$6.02 billion generated from residential properties and HK$46.57 million from commercial, industrial properties, and shops. Market Cap: HK$1.32B Midland Holdings, with a market cap of HK$1.32 billion, primarily earns revenue from property agency services in Hong Kong, Macau, and Mainland China. The company has become profitable over the past year and is trading at 89.6% below its estimated fair value, indicating potential undervaluation compared to peers. Midland is debt-free with high-quality earnings and a strong Return on Equity of 32.2%. Recent developments include entering into a new Cross Referral Services Framework Agreement with Legend Upstar Holdings Limited for three years starting January 2025, reflecting stronger-than-expected performance in its estate agency business. Navigate through the intricacies of Midland Holdings with our comprehensive balance sheet health report here. Explore Midland Holdings' analyst forecasts in our growth report. SenseTime Group Simply Wall St Financial Health Rating: ★★★★★★ Overview: SenseTime Group Inc. is an investment holding company that researches, develops, and sells artificial intelligence software platforms across Mainland China, Northeast Asia, Southeast Asia, and internationally with a market cap of HK$64.76 billion. Operations: The company's revenue is primarily generated from its Software & Programming segment, which accounted for CN¥3.77 billion. Market Cap: HK$64.76B SenseTime Group, with a market cap of HK$64.76 billion, generates significant revenue from its Software & Programming segment, totaling CN¥3.77 billion. The company remains unprofitable and is not expected to achieve profitability in the next three years; however, it has reduced losses by 17.8% annually over the past five years. SenseTime's financial position is bolstered by short-term assets exceeding both short and long-term liabilities, and it maintains more cash than total debt. Recent developments include a HKD 2.5 billion follow-on equity offering and board changes with new executive directors appointed to strengthen governance structures. Unlock comprehensive insights into our analysis of SenseTime Group stock in this financial health report. Understand SenseTime Group's earnings outlook by examining our growth report. Zhuzhou Tianqiao Crane Simply Wall St Financial Health Rating: ★★★★★★ Overview: Zhuzhou Tianqiao Crane Co., Ltd. manufactures and sells material handling equipment for industries such as electrolytic aluminum, steel, construction machinery, and non-ferrous sectors in China and internationally, with a market cap of CN¥5.69 billion. Operations: Zhuzhou Tianqiao Crane Co., Ltd. has not reported any specific revenue segments. Market Cap: CN¥5.69B Zhuzhou Tianqiao Crane Co., Ltd., with a market cap of CN¥5.69 billion, has shown impressive earnings growth of 87.9% over the past year, surpassing industry averages, although its five-year trend shows a decline of 7.1% annually. The company's financial health is robust, with short-term assets significantly exceeding both long and short-term liabilities and more cash than total debt. Despite low return on equity at 1.6%, it effectively manages interest payments and has reduced its debt-to-equity ratio from 13.4% to 4.5%. Recent dividend affirmations highlight shareholder returns amidst stable weekly volatility at 4%. Click to explore a detailed breakdown of our findings in Zhuzhou Tianqiao Crane's financial health report. Explore historical data to track Zhuzhou Tianqiao Crane's performance over time in our past results report. Next Steps Unlock more gems! Our Asian Penny Stocks screener has unearthed 967 more companies for you to here to unveil our expertly curated list of 970 Asian Penny Stocks. Want To Explore Some Alternatives? We've found 17 US stocks that are forecast to pay a dividend yeild of over 6% next year. See the full list for free. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SEHK:1200 SEHK:20 and SZSE:002523. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Yahoo
2 days ago
- Business
- Yahoo
Sinocelltech Group And 2 More High Growth Tech Stocks In Asia
In recent weeks, Asian markets have shown resilience with the CSI 300 Index and Shanghai Composite Index posting gains, despite ongoing challenges such as China's persistent deflation pressures and a cooling property market. As investors navigate these complex economic landscapes, identifying high-growth tech stocks like Sinocelltech Group can be key to capitalizing on emerging opportunities in the region's dynamic tech sector. Top 10 High Growth Tech Companies In Asia Name Revenue Growth Earnings Growth Growth Rating Suzhou TFC Optical Communication 30.23% 29.66% ★★★★★★ Gold Circuit Electronics 20.76% 25.89% ★★★★★★ Shanghai Huace Navigation Technology 24.51% 23.48% ★★★★★★ Fositek 30.05% 37.09% ★★★★★★ Shengyi Electronics 26.23% 37.40% ★★★★★★ eWeLLLtd 24.95% 24.40% ★★★★★★ Global Security Experts 20.56% 28.04% ★★★★★★ CARsgen Therapeutics Holdings 81.53% 96.08% ★★★★★★ Marketingforce Management 26.39% 112.30% ★★★★★★ JNTC 55.45% 94.52% ★★★★★★ Click here to see the full list of 479 stocks from our Asian High Growth Tech and AI Stocks screener. Let's uncover some gems from our specialized screener. Sinocelltech Group Simply Wall St Growth Rating: ★★★★★☆ Overview: Sinocelltech Group Limited is a biotech company focused on the research, development, and industrialization of recombinant proteins, monoclonal antibodies, and innovative vaccines in China with a market cap of approximately CN¥36.78 billion. Operations: The company generates revenue primarily from its Biological Drugs segment, which includes drugs and vaccines, with sales reaching approximately CN¥2.42 billion. Sinocelltech Group, amidst a dynamic tech landscape in Asia, has shown promising financial agility with a projected annual earnings growth of 47.8%, significantly outpacing the Chinese market's average of 23.4%. Despite recent revenue dips—from CNY 612.5 million to CNY 519.74 million—its strategic maneuvers like the private placement deal for CNY 900 million suggest proactive capital management. The firm's R&D focus is reflected in its robust innovation pipeline, crucial for maintaining competitiveness in the biotech sector where it recently turned profitable, highlighting its resilience and adaptability in a challenging industry environment. Take a closer look at Sinocelltech Group's potential here in our health report. Examine Sinocelltech Group's past performance report to understand how it has performed in the past. Shenzhen Everwin Precision Technology Simply Wall St Growth Rating: ★★★★☆☆ Overview: Shenzhen Everwin Precision Technology Co., Ltd. operates in the precision manufacturing industry and has a market capitalization of CN¥29.60 billion. Operations: Everwin Precision Technology focuses on precision manufacturing, generating revenue primarily through its specialized production capabilities. The company's operations are reflected in its market capitalization of CN¥29.60 billion, indicating its scale within the industry. Shenzhen Everwin Precision Technology has demonstrated robust growth metrics, outpacing the electronics industry with a 33.8% increase in earnings over the past year compared to the industry's average of 2.9%. This performance is underscored by a significant R&D commitment, evident from its latest quarterly report showing a revenue jump to CNY 4.39 billion from CNY 3.94 billion year-over-year, coupled with an R&D expense ratio that aligns with leading tech innovators in Asia. Despite facing challenges like a decrease in net income to CNY 174.87 million from CNY 309.21 million, the company's aggressive growth strategy and recent dividend affirmations suggest confidence in its financial health and future prospects. Unlock comprehensive insights into our analysis of Shenzhen Everwin Precision Technology stock in this health report. Gain insights into Shenzhen Everwin Precision Technology's past trends and performance with our Past report. Unimicron Technology Simply Wall St Growth Rating: ★★★★☆☆ Overview: Unimicron Technology Corp. is involved in the development, manufacturing, processing, and sale of printed circuit boards and electronic products globally, with a market cap of NT$204.08 billion. Operations: Unimicron Technology Corp. generates revenue primarily from the sale of printed circuit boards and electronic products, with significant contributions from Taiwan (NT$83.34 billion) and Mainland China (NT$49.14 billion). Unimicron Technology, a key player in Asia's tech sector, is navigating a landscape marked by intense innovation and competition. Recently, the company showcased its strategic initiatives at multiple industry forums, signaling robust engagement with market trends and investor interests. Financially, Unimicron is on an upward trajectory with a notable 12.3% annual revenue growth and an impressive forecast of 51.6% earnings growth per year. Their commitment to innovation is evident from their R&D spending which stands at 5% of their total revenue, aligning them closely with tech leaders in the region who prioritize reinvestment in development to spur further growth. Click to explore a detailed breakdown of our findings in Unimicron Technology's health report. Evaluate Unimicron Technology's historical performance by accessing our past performance report. Turning Ideas Into Actions Unlock our comprehensive list of 479 Asian High Growth Tech and AI Stocks by clicking here. Already own these companies? Link your portfolio to Simply Wall St and get alerts on any new warning signs to your stocks. Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide. Looking For Alternative Opportunities? Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SHSE:688520 SZSE:300115 and TWSE:3037. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
Asian Hidden Gems and 3 Small Caps with Promising Potential
Amidst a backdrop of favorable trade deals and positive market sentiment, Asian markets have been buoyed by hopes for extended tariff truces and strengthening economic ties. As global indices reach new heights, investors are increasingly turning their attention to small-cap stocks in Asia that demonstrate resilience and growth potential in this dynamic environment. Top 10 Undiscovered Gems With Strong Fundamentals In Asia Name Debt To Equity Revenue Growth Earnings Growth Health Rating Changjiu Holdings NA 11.55% 10.44% ★★★★★★ Korea Ratings NA 0.72% 2.33% ★★★★★★ Shenzhen Coship Electronics NA 8.20% 44.45% ★★★★★★ ManpowerGroup Greater China NA 15.01% 0.09% ★★★★★★ Qingmu Tec 0.74% 13.00% -19.41% ★★★★★★ Center International GroupLtd 18.20% 0.69% -31.63% ★★★★★★ Togami Electric Mfg 3.09% 4.88% 16.96% ★★★★★☆ Guangdong Transtek Medical Electronics 18.14% -7.58% -3.26% ★★★★★☆ Hunan Investment GroupLtd 4.50% 25.84% 15.32% ★★★★★☆ Wison Engineering Services 41.36% -3.70% -15.32% ★★★★★☆ Click here to see the full list of 2600 stocks from our Asian Undiscovered Gems With Strong Fundamentals screener. Let's uncover some gems from our specialized screener. Philippine National Bank Simply Wall St Value Rating: ★★★★☆☆ Overview: Philippine National Bank offers a range of banking and financial products and services, with a market capitalization of approximately ₱95.82 billion. Operations: The bank's primary revenue streams include Retail Banking at ₱33.79 billion and Corporate Banking at ₱12.42 billion, with Treasury operations contributing ₱11.50 billion. Philippine National Bank is a notable player with total assets of ₱1,279.3 billion and equity at ₱218.7 billion, reflecting its robust financial foundation. The bank's earnings growth of 18.5% outpaces the industry average of 10.9%, highlighting its competitive edge in the market. Despite trading at a value 35% below estimated fair value, it faces challenges with high bad loans at 6.9% and an insufficient allowance for these loans, currently only covering 91%. Recent leadership changes aim to bolster strategic areas like institutional banking and digital innovation, suggesting a proactive approach to future growth opportunities. Unlock comprehensive insights into our analysis of Philippine National Bank stock in this health report. Learn about Philippine National Bank's historical performance. Shanghai Xinhua Media Simply Wall St Value Rating: ★★★★★★ Overview: Shanghai Xinhua Media Co., Ltd. is a publishing and media enterprise operating in the cultural media sector in China, with a market cap of CN¥8.41 billion. Operations: Shanghai Xinhua Media's primary revenue streams are derived from its publishing and media operations within China's cultural media sector. The company has a market capitalization of CN¥8.41 billion. Shanghai Xinhua Media, a nimble player in the media sector, has shown impressive financial health with no debt on its books over the past five years. The company recorded an 18.6% earnings growth last year, outpacing the media industry's -20.1%, though this was influenced by a one-off gain of CN¥92M. Free cash flow remains positive, suggesting solid operational efficiency despite capital expenditures reaching CN¥121M recently. This performance hints at robust management and strategic positioning within its industry, potentially offering investors a compelling opportunity amidst broader market challenges in Asia's dynamic landscape. Delve into the full analysis health report here for a deeper understanding of Shanghai Xinhua Media. Evaluate Shanghai Xinhua Media's historical performance by accessing our past performance report. AnHui Jinchun Nonwoven Simply Wall St Value Rating: ★★★★★☆ Overview: AnHui Jinchun Nonwoven Co., Ltd. specializes in the production and sale of nonwoven products, with a market capitalization of CN¥2.99 billion. Operations: The company generates revenue primarily from the production and sale of nonwoven products. It has a market capitalization of CN¥2.99 billion. AnHui Jinchun Nonwoven, a smaller player in the textile industry, has shown impressive earnings growth of 78.4% over the past year, outpacing its sector's -5.9%. Despite this growth, earnings have decreased by an average of 53.4% annually over five years. The company is financially sound with more cash than total debt and a reduced debt-to-equity ratio from 11.4% to 8.2% in five years. Recently, it completed a share buyback of 100,000 shares for CNY 1.52 million and announced a final cash dividend of CNY 1 per ten shares for shareholders as of May 2025. Click here and access our complete health analysis report to understand the dynamics of AnHui Jinchun Nonwoven. Explore historical data to track AnHui Jinchun Nonwoven's performance over time in our Past section. Taking Advantage Embark on your investment journey to our 2600 Asian Undiscovered Gems With Strong Fundamentals selection here. Already own these companies? Link your portfolio to Simply Wall St and get alerts on any new warning signs to your stocks. Elevate your portfolio with Simply Wall St, the ultimate app for investors seeking global market coverage. Searching for a Fresh Perspective? Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include PSE:PNB SHSE:600825 and SZSE:300877. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Yahoo
7 days ago
- Business
- Yahoo
Chongyi Zhangyuan Tungsten And 2 Other Promising Asian Small Caps
In recent weeks, Asian markets have shown resilience amid global economic fluctuations, with China's stock indices recording gains and Japan's market experiencing modest growth despite political uncertainties. As small-cap companies continue to navigate these dynamic conditions, investors are increasingly attentive to firms that demonstrate robust fundamentals and the potential for sustainable growth. In this context, Chongyi Zhangyuan Tungsten and two other promising Asian small caps stand out as intriguing opportunities for those seeking undiscovered gems in the region. Top 10 Undiscovered Gems With Strong Fundamentals In Asia Name Debt To Equity Revenue Growth Earnings Growth Health Rating Bonny Worldwide 34.20% 17.05% 40.91% ★★★★★★ Jiangyin Haida Rubber And Plastic 16.31% 7.95% -9.56% ★★★★★★ Qingdao Eastsoft Communication TechnologyLtd NA 5.88% -20.71% ★★★★★★ Shenzhen Zhongheng Huafa NA 1.77% 31.72% ★★★★★★ AJIS 0.68% 3.20% -12.98% ★★★★★☆ Hyakugo Bank 161.58% 6.23% 7.74% ★★★★★☆ Guangdong Delian Group 28.18% 5.07% -36.51% ★★★★★☆ Huang Hsiang Construction 268.99% 13.29% 10.70% ★★★★☆☆ Mechema Chemicals International 55.74% -4.23% -5.72% ★★★★☆☆ Zhejiang Risun Intelligent TechnologyLtd 27.20% 20.30% -23.01% ★★★★☆☆ Click here to see the full list of 2605 stocks from our Asian Undiscovered Gems With Strong Fundamentals screener. Here we highlight a subset of our preferred stocks from the screener. Chongyi Zhangyuan Tungsten Simply Wall St Value Rating: ★★★★☆☆ Overview: Chongyi Zhangyuan Tungsten Co., Ltd. is involved in the mining of tungsten concentrate and other metal mineral products both within China and internationally, with a market capitalization of approximately CN¥10.81 billion. Operations: Chongyi Zhangyuan Tungsten generates revenue primarily through the sale of tungsten concentrate and other metal mineral products. The company's net profit margin has shown fluctuations over recent periods, reflecting changes in operational efficiency and market conditions. Chongyi Zhangyuan Tungsten, a small player in the metals and mining sector, has shown impressive financial performance with earnings growth of 37.7% over the past year, outpacing the industry average. Despite a high net debt to equity ratio of 74.9%, its interest payments are well-covered by EBIT at 4.4 times coverage, indicating robust operational efficiency. The company's recent first-quarter results revealed sales of CNY 1.19 billion and net income of CNY 42.57 million, up from CNY 873.95 million and CNY 27.21 million respectively last year, highlighting strong revenue momentum that could signal further growth potential ahead. Click to explore a detailed breakdown of our findings in Chongyi Zhangyuan Tungsten's health report. Evaluate Chongyi Zhangyuan Tungsten's historical performance by accessing our past performance report. Shenzhen King Explorer Science and Technology Simply Wall St Value Rating: ★★★★★☆ Overview: Shenzhen King Explorer Science and Technology Corporation engages in the research, design, development, manufacture, and sale of intelligent equipment systems for civil explosive production and blasting service companies both in China and internationally, with a market cap of CN¥5.83 billion. Operations: King Explorer generates revenue primarily through the sale of intelligent equipment systems to civil explosive production and blasting service companies. The company's cost structure includes expenses related to research, design, development, and manufacturing processes. It is important to note that financial data such as gross profit margin or net profit margin are not provided for further analysis. Shenzhen King Explorer Science and Technology has demonstrated impressive earnings growth of 31.1% over the past year, outpacing the Chemicals industry at 3.5%. This company is trading at a notable discount of 31.6% below its estimated fair value, indicating potential undervaluation. Despite an increase in its debt to equity ratio from 15.4% to 28.7% over five years, it maintains a satisfactory net debt to equity ratio of 4.3%. Recent financials reveal a strong performance with first-quarter sales reaching CNY 362 million and net income climbing to CNY 35 million from last year's CNY 14 million, reflecting robust profitability improvements. Unlock comprehensive insights into our analysis of Shenzhen King Explorer Science and Technology stock in this health report. Explore historical data to track Shenzhen King Explorer Science and Technology's performance over time in our Past section. Zhongyan Technology Simply Wall St Value Rating: ★★★★★☆ Overview: Zhongyan Technology Co., Ltd. is a geotechnical technology company based in China with a market cap of CN¥5.84 billion. Operations: Zhongyan Technology generates revenue primarily through its geotechnical technology services in China. The company's net profit margin has shown variation, reflecting changes in operational efficiency and cost management over time. Zhongyan Technology, a relatively small player in its field, has demonstrated impressive financial metrics recently. For the first quarter of 2025, sales rose to CNY 162.03 million from CNY 136.73 million the previous year, while net income increased to CNY 10.37 million from CNY 4.1 million. This company is trading at a significant discount of over 70% below its estimated fair value and boasts high-quality earnings with free cash flow positivity. Despite experiencing share price volatility recently, Zhongyan's robust cash position surpasses its total debt, indicating solid financial health and potential for growth in the coming years. Click here and access our complete health analysis report to understand the dynamics of Zhongyan Technology. Review our historical performance report to gain insights into Zhongyan Technology's's past performance. Turning Ideas Into Actions Gain an insight into the universe of 2605 Asian Undiscovered Gems With Strong Fundamentals by clicking here. Are you invested in these stocks already? Keep abreast of every twist and turn by setting up a portfolio with Simply Wall St, where we make it simple for investors like you to stay informed and proactive. Streamline your investment strategy with Simply Wall St's app for free and benefit from extensive research on stocks across all corners of the world. Want To Explore Some Alternatives? Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SZSE:002378 SZSE:002917 and SZSE:003001. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Free Malaysia Today
17-07-2025
- Business
- Free Malaysia Today
Asian stocks struggle as traders eye Fed saga, trade war
Asian markets struggled to build on Wall Street's lead. (EPA Images pic) HONG KONG : Asian markets fluctuated today after a rollercoaster day on Wall Street punctuated by fears Donald Trump was considering sacking the head of the US Federal Reserve (Fed). Traders have walked a cautious line this week as they ascertain the trade outlook after the US president unveiled a flurry of fresh tariff threats, with the latest being letters to scores of countries notifying them of levies of up to 15%. Meanwhile, Tokyo-listed shares in the Japanese owner of 7-Eleven plunged after its Canadian rival pulled out of an almost US$50 billion takeover bid, ending a long-running battle over the convenience store giant. All three main indexes in New York ended in the green yesterday, with the Nasdaq at another record, following a brief sell-off that came after it emerged Trump had raised the idea of firing Fed boss Jerome Powell in a closed-door session with lawmakers. The markets soon bounced back after Trump denied he was planning to do so, saying: 'I don't rule out anything, but I think it's highly unlikely'. The news caused a spike in US Treasury yields amid fears over the central bank's independence and came after the president spent months lambasting Powell for not cutting interest rates, calling him a 'numbskull' and 'moron'. 'This Trump vs Powell saga is obviously important to market sentiment, and it seems fair to think Trump's series of social posts was strategically designed to gauge the reaction in markets – a trial balloon if you will,' said Chris Weston, head of research at Pepperstone. 'It seems that Trump indeed got his answers, and while (economic adviser) Kevin Hassett or any of the other names on the billing would be highly capable, the market has shown that it will take its pound of flesh if indeed Powell's dismissal were to become a reality,' Weston said. The Fed issue came as investors were already digesting a series of trade war salvos from Trump in recent weeks that saw him threaten Brazil, Mexico and the EU with elevated tariffs if they do not reach deals before Aug 1. He also flagged hefty levies on copper, semiconductors and pharmaceuticals, and while he reached an agreement with Indonesia on Tuesday, there are around two dozen more still unfinished. Yesterday, Trump said he would send letters to more than 150 countries outlining what tolls they would face. 'We'll have well over 150 countries that we're just going to send a notice of payment out, and the notice of payment is going to say what the tariff' will be, he told reporters, adding they were 'not big countries, and they don't do that much business'. He later told the Real America's Voice broadcast that the rate would 'be probably 10% or 15%, we haven't decided yet'. Meanwhile, the Fed's 'Beige Book' survey of economic conditions pointed to increasing impacts from the tariffs, with many warning they passed along 'at least a portion of cost increases' to consumers and expected costs to remain elevated. Asian markets struggled to build on Wall Street's lead. Hong Kong, Shanghai and Taipei were flat, while Sydney, Singapore, Wellington and Jakarta rose, with losses seen in Seoul and Manila. Tokyo was also down, with 7-Eleven owner Seven & i Holdings plunging more than 9% at one point after Canada's Alimentation Couche-Tard (ACT) withdrew its US$47 billion offer for the firm. ACT released a letter sent to Seven & i's board, accusing it of 'a calculated campaign of obfuscation and delay'. The decision ends a months-long saga that would have seen the biggest foreign buyout of a Japanese company, merging the 7-Eleven, Circle K and other franchises to create a global convenience store behemoth.
