Latest news with #ChinaCommerceMinistry
Yahoo
6 days ago
- Business
- Yahoo
TSX futures rise on trade optimism and U.S. economic data
(Reuters) -Futures linked to Toronto's main stock index edged higher on Friday, with investor sentiment buoyed by domestic trade updates and U.S. data signalling economic resilience. Futures on the S&P/TSX index rose 0.2% at 1,636.40 points by 06:20 a.m. ET (1020 GMT). Canada's International Trade Minister pointed to interest in advancing trade talks with the South American bloc Mercosur, comprising Brazil, Argentina, Paraguay, and Uruguay, as Ottawa seeks to diversify its trade relations beyond the U.S. Prime Minister Mark Carney and his team are in talks with U.S. President Donald Trump to reach a trade agreement before the August 1 deadline, when 35% tariffs are set to take effect. In other trade-related news, Canada and New Zealand reached a "mutually satisfactory" resolution to a long-term dispute over dairy product access, which will allow for better access to the Canadian market, Ottawa said on Thursday. Trump has previously criticised high Canadian tariffs on dairy products. Earlier this week, Carney introduced a steel tariff rate quota in a bid to protect the domestic steel industry. China's Commerce Ministry urged Ottawa on Friday to drop the restrictions while threatening countermeasures. Thursday's positive retail sales and U.S. weekly jobless claims data showed that the economy has continued to show resilience despite tariff-related uncertainty. Gold prices edged higher, while platinum rose to a near 11-year high and copper climbed to an over one-week high. Oil rose after EU's new sanctions on Russia. TSX hit a record high on Thursday, helped by financial and technology shares, as Alimentation Couche-Tard abandoned a major takeover bid and U.S. data pointed to economic resilience. FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report [.TO] Canadian dollar and bonds report [CAD/] [CA/] Reuters global stocks poll for Canada Canadian markets directory 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
CTV News
27-06-2025
- Business
- CTV News
Global shares are mostly higher after U.S. stocks rise to the brink of a record
A dealer walks past near screens showing the Korea Composite Stock Price Index, left, and the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Friday, June 27, 2025. (AP Photo/Lee Jin-man) MANILA, Philippines — Global shares were mostly higher on Friday as the week was winding down with the Israel-Iran ceasefire still in place and signs of progress on a China-U.S. trade deal. Investors were watching for further details after U.S. President Donald Trump said the U.S. and China had signed a trade deal. Commerce Secretary Howard Lutnick said in an interview on Bloomberg TV that the deal was signed two days ago, but did not elaborate, saying 'The president likes to close these deals himself.' China's Commerce Ministry said Friday that the two sides had 'further confirmed the details of the framework' for their trade talks. But its statement did not explicit mention an agreement to ensure U.S. access to rare earths, materials used in high-tech applications that have been at the centre of negotiations. 'China will approve the export applications of controlled items that meet the conditions in accordance with the law. The United States will cancel a series of restrictive measures taken against China accordingly. It is hoped that the United States and China will meet each other halfway,' the ministry said in a statement. In early European trading, Germany's DAX added 0.8% to 23,847.16. In Paris, the CAC 40 surged 1.3% to 7,656.55. Britain's FTSE 100 gained 0.5% to 8,779.78. The futures for the S&P 500 and the Dow Jones Industrial Average were up 0.2%. Markets have settled somewhat after the upheavals of the Israel-Iran war and its aftermath. Worries about Trump's higher tariffs have receded since the president shocked the world in April with stiff proposed levies, but they have not disappeared. The wait is still on to see how big the tariffs will ultimately be, how much they will hurt the economy and how much they will push up inflation. Hong Kong's Hang Seng index lost 0.2% to 24,284.15, while the Shanghai Composite index gave up 0.7% to 3,424.23 after China reported that industrial profits slid 9.1% in May, the sharpest drop since last October. 'Beijing may have paused the worst of the trade fight with Washington, but the tariff scars are showing—and unless demand picks up or pricing stabilizes, the pressure on margins and business sentiment will linger,' Stephen Innes, Managing Partner at SPI Asset Management, said in a commentary. Tokyo's Nikkei 225 index gained 1.4% to 40,150.79, as the government reported that consumer prices eased slightly in May. South Korea's KOSPI Composite Index fell 0.8% to 3,055.94, while Australia's S&P/ASX 200 shed 0.4% at 8,514.20. On Thursday, the S&P 500 climbed 0.8% and at 6,141.02 was sitting just 0.05% below its all-time closing high set in February. The index at the heart of many 401(k) accounts had dropped roughly 20% below its record during the spring on worries about Trump's tariffs. The Dow Jones Industrial Average rallied 0.9% and the Nasdaq composite gained 1%. Reports on Thursday added to evidence the U.S. economy is holding up despite higher tariffs and other challenges, though it has slowed. Orders for washing machines and other manufactured goods that last at least three years grew by more last month than economists expected. Another report said fewer U.S. workers filed for unemployment benefits last week, a potential signal of fewer layoffs. A third report said the U.S. economy shrank by more during the first three months of 2025 than earlier estimated. But many economists say those numbers were distorted by a surge in imports as companies tried to get ahead of tariffs. They're expecting a better performance in upcoming months. In other dealings on Friday, the U.S. benchmark crude gained 46 cents to US$65.70 per barrel. Brent crude, the international standard, added 41 cents to $67.10 per barrel. The U.S. dollar fell to 144.37 Japanese yen from 144.40 yen. The euro edged higher to $1.1710 from $1.1703. Teresa Cerojano, The Associated Press
Globe and Mail
27-06-2025
- Business
- Globe and Mail
Asian shares are mixed after US stocks rise to the brink of a record
MANILA, Philippines (AP) — Asian shares were mixed on Friday, losing some of their morning gains, after U.S. stocks ran to the brink of another record. U.S. futures and oil prices also logged modest gains. Investors were watching for further details after President Donald Trump said the U.S. and China had signed a trade deal. Commerce Secretary Howard Lutnick said in an interview on Bloomberg TV that the deal was signed two days ago, but he gave no details, saying 'The president likes to close these deals himself.' China's Commerce Ministry said Friday that the two sides had 'further confirmed the details of the framework.' But its statement was vague, not explicitly mentioning an agreement to ensure U.S. access to rare earths, materials used in high-tech applications that have been at the center of negotiations. 'China will approve the export applications of controlled items that meet the conditions in accordance with the law. The United States will cancel a series of restrictive measures taken against China accordingly. It is hoped that the United States and China will meet each other halfway,' it said. Worries about Trump's higher tariffs have receded since the president shocked the world in April with stiff proposed levies, but they have not disappeared. The wait is still on to see how big the tariffs will ultimately be, how much they will hurt the economy and how much they will push up inflation. Hong Kong's Hang Seng index lost 0.3% to 24,250.77, while the Shanghai Composite index gave up 0.7% to 3,424.23 after China reported that industrial profits slid 9.1% in May, the sharpest drop since last October. 'Beijing may have paused the worst of the trade fight with Washington, but the tariff scars are showing—and unless demand picks up or pricing stabilizes, the pressure on margins and business sentiment will linger,' Stephen Innes, Managing Partner at SPI Asset Management, said in a commentary. Tokyo's Nikkei 225 index 1.4% to 40,150.79 as the government reported that consumer prices eased slightly in May. South Korea's KOSPI Composite Index fell 0.8% to 3,055.94, while Australia's S&P/ASX 200 shed 0.4% at 8,514.20. Markets have settled somewhat after the upheavals of the Israel-Iran war and its aftermath. On Thursday, the S&P 500 climbed 0.8% to 6,141.02 and was sitting just 0.05% below its all-time closing high set in February. It briefly topped the mark during the afternoon in the latest milestone for the index at the heart of many 401(k) accounts, which had dropped roughly 20% below its record during the spring on worries about President Donald Trump's tariffs. The Dow Jones Industrial Average rallied 0.9% to 43,386.84, and the Nasdaq composite gained 1% to 20,167.91. Reports Thursday added to evidence the U.S. economy is holding up despite higher tariffs and other challenges, though it has slowed. Orders for washing machines and other manufactured goods that last at least three years grew by more last month than economists expected. Another report said fewer U.S. workers filed for unemployment benefits last week, a potential signal of fewer layoffs. A third report said the U.S. economy shrank by more during the first three months of 2025 than earlier estimated. But many economists say those numbers were distorted by a surge in imports as companies tried to get ahead of tariffs. They're expecting a better performance in upcoming months. Following the reports, Treasury yields swiveled up and down in the bond market before easing. The yield on the 10-year Treasury fell to 4.24% from 4.29% late Wednesday. The two-year Treasury yield, which more closely tracks expectations for what the Federal Reserve will do, fell to 3.71% from 3.74% late Wednesday. Analysts said yields may have felt pressure because of a report from The Wall Street Journal saying Trump could name his nominee to replace Fed Chair Jerome Powell unusually early, in an attempt to undermine him. That could hurt confidence among investors about the Fed's capability to make unpopular decisions when it comes to fighting inflation. In other dealings on Friday, the U.S. benchmark crude gained 32 cents to $65.56 per barrel. Brent crude, the international standard, added 34 cents to $67.03 per barrel. The U.S. dollar rose to 144.50 Japanese yen from 144.40 yen. The euro edged higher to $1.1715 from $1.1703.
Wall Street Journal
13-05-2025
- Business
- Wall Street Journal
China Hopes U.S. Will Fix ‘Wrong Practice' of Unilateral Tariff Hikes
China said it hopes the U.S. 'will thoroughly correct the wrong practice of unilateral tariff increases' and work to maintain a stable development of bilateral trade relations. In a statement Monday, China's commerce ministry said the U.S.-China joint statement on levies is 'an important step for the two sides to resolve differences' through dialogue, and that consumers and producers in both countries have expected such a move.
