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CTV News
9 hours ago
- Business
- CTV News
Asian shares are mixed after China-U.S. talks end without a trade deal
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, July 30, 2025. (AP Photo/Ahn Young-joon) BANGKOK — Shares in Asia were mixed on Wednesday after the U.S. and China ended their latest round of trade talks without a deal. U.S, futures edged higher while oil prices slipped. Beijing's top trade official said China and the United States agreed during two days of talks in Stockholm, Sweden, to work on extending an Aug. 12 deadline for imposing higher tariffs on each other. The U.S. side said an extension was discussed, but not decided on. U.S. Trade Representative Jamieson Greer said the American team would head back to Washington and 'talk to the president about whether that's something that he wants to do.' A Friday deadline is looming for many of Trump's proposed tariffs on other countries. Several highly anticipated economic reports are also on the way, including the latest monthly update on the job market. 'Markets had been floating on a cloud of trade optimism — first Japan, then the EU — but the sugar high is wearing off. Now, with U.S.-China talks dragging on in Stockholm, there's a growing sense that the momentum is stalling,' Stephen Innes of SPI Asset Management said in a commentary. Hong Kong's Hang Seng index shed 0.1.2% to 25,213.15, while the Shanghai Composite index gained 0.2% to 3,616.30. Tokyo's Nikkei 225 index fell less than 0.1% to 40,654.70. Gains for electronics companies were offset by losses for major exporters like Toyota Motor Corp. and Honda Motor Co. Australia's S&P/ASX 200 climbed 0.6% to 8,756.40 and in South Korea, the Kospi gained 0.7% to 3,254,47. Taiwan's Taiex rose 1.1%. In India, the Sensex added 0.3%. On Tuesday, U.S. stock indexes edged back from their record levels as a busy week for Wall Street picked up momentum. The S&P 500 fell 0.3% to 6,370.86, while the Dow Jones Industrial Average lost 0.5% to 44,632.99. The Nasdaq composite was down 0.4% at 21,098.29. SoFi Technologies jumped 7.4%, but Merck dropped 2.2% and UPS sank 9.2% following a torrent of profit reports from big U.S. companies. They're among the hundreds of companies telling investors this week how much they made during the spring, including nearly a third of the stocks in the S&P 500 index. UnitedHealth Group dropped 5.8% after reporting a profit for the spring that fell short of analysts' expectations. It also gave a forecast for profit over all of 2025 that investors found disappointing. The health care giant said it expected to earn at least $16 per share, when analysts were looking for something close to $20, according to FactSet. Shares of Novo Nordisk that trade in the United States tumbled 21.3% after the Danish company cut its forecast for sales growth this year, in part because of lower expectations for its Wegovy weight-loss drug amid high competition. Treasury yields sank as the Federal Reserve began a two-day meeting on interest rates. Despite pressure from President Donald Trump for lower rates, which would give the economy a boost, the widespread expectation is that the Fed will wait for more data about how Trump's tariffs are affecting inflation and the economy before making its next move. The U.S. economy appears to be slowing. One report Tuesday said that U.S. employers were advertising fewer job openings at the end of June than a month before, though still more than economists expected. A separate report said confidence rose among U.S. consumers, but a measure of their expectations about the near term remains below the level that typically signals a recession ahead. In other dealings early Wednesday, U.S. benchmark crude oil shed 1 cent to $69.20 per barrel, while Brent crude, the international standard, was up 2 cents at $71.70 per barrel. The dollar fell to 147.90 Japanese yen from 148.48 yen. The euro rose to $1.1559 from $1.1546. Elaine Kurtenbach, The Associated Press
Japan Today
13 hours ago
- Business
- Japan Today
Asian shares mixed after China-U.S. talks end without trade deal
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, July 30, 2025. (AP Photo/Ahn Young-joon) By ELAINE KURTENBACH Shares in Asia were mixed on Wednesday after the U.S. and China ended their latest round of trade talks without a deal. U.S, futures edged higher while oil prices slipped. Beijing's top trade official said China and the United States agreed during two days of talks in Stockholm, Sweden, to work on extending an Aug. 12 deadline for imposing higher tariffs on each other. The U.S. side said an extension was discussed, but not decided on. U.S. Trade Representative Jamieson Greer said the American team would head back to Washington and 'talk to the president about whether that's something that he wants to do.' A Friday deadline is looming for many of Trump's proposed tariffs on other countries. Several highly anticipated economic reports are also on the way, including the latest monthly update on the job market. 'Markets had been floating on a cloud of trade optimism — first Japan, then the EU — but the sugar high is wearing off. Now, with U.S.-China talks dragging on in Stockholm, there's a growing sense that the momentum is stalling,' Stephen Innes of SPI Asset Management said in a commentary. Hong Kong's Hang Seng index shed 0.1.2% to 25,213.15, while the Shanghai Composite index gained 0.2% to 3,616.30. Tokyo's Nikkei 225 index fell less than 0.1% to 40,654.70. Gains for electronics companies were offset by losses for major exporters like Toyota Motor Corp. and Honda Motor Co. Australia's S&P/ASX 200 climbed 0.6% to 8,756.40 and in South Korea, the Kospi gained 0.7% to 3,254,47. Taiwan's Taiex rose 1.1%. In India, the Sensex added 0.3%. On Tuesday, U.S. stock indexes edged back from their record levels as a busy week for Wall Street picked up momentum. The S&P 500 fell 0.3% to 6,370.86, while the Dow Jones Industrial Average lost 0.5% to 44,632.99. The Nasdaq composite was down 0.4% at 21,098.29. SoFi Technologies jumped 7.4%, but Merck dropped 2.2% and UPS sank 9.2% following a torrent of profit reports from big U.S. companies. They're among the hundreds of companies telling investors this week how much they made during the spring, including nearly a third of the stocks in the S&P 500 index. UnitedHealth Group dropped 5.8% after reporting a profit for the spring that fell short of analysts' expectations. It also gave a forecast for profit over all of 2025 that investors found disappointing. The health care giant said it expected to earn at least $16 per share, when analysts were looking for something close to $20, according to FactSet. Shares of Novo Nordisk that trade in the United States tumbled 21.3% after the Danish company cut its forecast for sales growth this year, in part because of lower expectations for its Wegovy weight-loss drug amid high competition. Treasury yields sank as the Federal Reserve began a two-day meeting on interest rates. Despite pressure from President Donald Trump for lower rates, which would give the economy a boost, the widespread expectation is that the Fed will wait for more data about how Trump's tariffs are affecting inflation and the economy before making its next move. The U.S. economy appears to be slowing. One report Tuesday said that U.S. employers were advertising fewer job openings at the end of June than a month before, though still more than economists expected. A separate report said confidence rose among U.S. consumers, but a measure of their expectations about the near term remains below the level that typically signals a recession ahead. In other dealings early Wednesday, U.S. benchmark crude oil shed 1 cent to $69.20 per barrel, while Brent crude, the international standard, was up 2 cents at $71.70 per barrel. The dollar fell to 147.90 Japanese yen from 148.48 yen. The euro rose to $1.1559 from $1.1546. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
CTV News
2 days ago
- Business
- CTV News
World shares advance after EU strikes trade deal with Trump
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won, right, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, July 28, 2025. (AP Photo/Ahn Young-joon) BANGKOK — Stock markets in Europe and Asia shot higher Monday after the European Union worked out a trade deal with the Trump administration ahead of this week's deadline. U.S. futures and oil prices were higher ahead of trade talks in Stockholm between U.S. and Chinese officials. Germany's DAX gained 0.6% to 24,359.81, while the CAC 40 in Paris advanced 0.8% to 7,900.48. Britain's FTSE 100 picked up 0.3% to 9,148.34. The agreement between the EU and U.S. President Donald Trump calls for 15% tariffs on most EU exports to the U.S. Before Trump began ramping up tariffs, the level was 1%. The deal was announced after Trump and European Commission chief Ursula von der Leyen met briefly at the president's Turnberry golf course in Scotland. It staves off far higher import duties on both sides that might have sent shock waves through economies around the globe. Tokyo's Nikkei 225 index lost 1.1% to 40,998.27 after doubts surfaced over what exactly last week's trade truce between Japan and Trump entails, especially Japan's $550 billion pledge of investment in the U.S. Terms of the deal are still being negotiated and nothing has been formalized in writing, said an official who insisted on anonymity to detail the terms of the talks. The official suggested the goal was for a $550 billion fund to make investments at Trump's direction. Hong Kong's Hang Seng index gained 0.7% to 25,563.32, while the Shanghai Composite index edged 0.1% higher to 3,597.94. Taiwan's Taiex rose 0.2%. CK Hutchison, a Hong Kong conglomerate that's selling ports at the Panama Canal, said it may seek a Chinese investor to join a consortium of buyers in a move that might please Beijing but could also bring more U.S. scrutiny to a geopolitically fraught deal. CK Hutchison's shares fell 0.6% on Monday in Hong Kong. Elsewhere in Asia, South Korea's Kospi climbed 0.4% to 3,209.52, while Australia's S&P/ASX 200 rose 0.4% to 8,697.70. India's Sensex slipped 0.3%. Markets in Thailand were closed for a holiday. On Friday, the S&P 500 rose 0.4% to 6,388.64, setting an all-time for the fifth time in a week. The Dow Jones Industrial Average climbed 0.5% to 44,901.92, while the Nasdaq composite added 0.2%, closing at 21,108.32 to top its own record. Deckers, the company behind Ugg boots and Hoka shoes, jumped 11.3% after reporting stronger profit and revenue for the spring than analysts expected. Its growth was particularly strong outside the United States, where revenue soared nearly 50%. But Intell fell 8.5% after reporting a loss for the latest quarter, when analysts were looking for a profit. The struggling chipmaker also said it would cut thousands of jobs and eliminate other expenses as it tries to turn around its fortunes. Intel, which helped launch Silicon Valley as the U.S. technology hub, has fallen behind rivals like Nvidia and Advanced Micro Devices while demand for artificial intelligence chips soars. Companies are under pressure to deliver solid growth in profits to justify big gains for their stock prices, which have rallied to record after record in recent weeks. Wall Street has zoomed higher on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. Trump has recently announced deals with Japan and the Philippines, and the next big deadline is looming on Friday, Aug. 1. Apart from trade talks, this week will also feature a meeting by the Federal Reserve on interest rates. Trump again on Thursday lobbied the Fed to cut rates, which he has implied could save the U.S. government money on its debt repayments. Fed Chair Jerome Powell has said he is waiting for more data about how Trump's tariffs affect the economy and inflation before making a move. The widespread expectation on Wall Street is that the Fed will wait until September to resume cutting interest rates. In other dealings early Monday, U.S. benchmark crude oil gained 40 cents to $65.56 per barrel. Brent crude, the international standard, added 40 cents to $68.06 per barrel. The dollar rose to 147.85 Japanese yen from 147.71 yen. The euro slipped to $1.1719 from $1.1758. Elaine Kurtenbach, The Associated Press
Asahi Shimbun
3 days ago
- Business
- Asahi Shimbun
Asian shares are mixed after Wall Street sets more records for U.S. stocks
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), top center left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul on July 28. (AP Photo) BANGKOK--Stock markets in Asia were mixed on Monday after U.S. stocks rose to more records as they closed out another winning week. U.S. futures and oil prices were higher ahead of trade talks in Stockholm between U.S. and Chinese officials. European futures rose after the European Union forged a deal with the Trump administration calling for 15% tariffs on most exports to the U.S. The agreement announced after President Donald Trump and European Commission chief Ursula von der Leyen met briefly at Trump's Turnberry golf course in Scotland staves off far higher import duties on both sides that might have sent shock waves through economies around the globe. Tokyo's Nikkei 225 index lost 1% to 41,056.81 after doubts surfaced over what exactly the trade truce between Japan and U.S. President Donald Trump, especially the $550 billion pledge of investment in the U.S. by Japan, will entail. Terms of the deal are still being negotiated and nothing has been formalized in writing, said an official, who insisted on anonymity to detail the terms of the talks. The official suggested the goal was for a $550 billion fund to make investments at Trump's direction. Hong Kong's Hang Seng index gained 0.4% to 25,490.45 while the Shanghai Composite index lost 0.2% to 3,587.25. Taiwan's Taiex rose 0.3%. CK Hutchison, a Hong Kong conglomerate that's selling ports at the Panama Canal, said it may seek a Chinese investor to join a consortium of buyers in a move that might please Beijing but could also bring more U.S. scrutiny to a geopolitically fraught deal. CK Hutchison's shares fell 0.6% on Monday in Hong Kong. Elsewhere in Asia, South Korea's Kospi was little changed at 3,195.49, while Australia's S&P/ASX 200 rose 0.3% to 8,688.40. India's Sensex slipped 0.1%. Markets in Thailand were closed for a holiday. On Friday, the S&P 500 rose 0.4% to 6,388.64, setting an all-time for the fifth time in a week. The Dow Jones Industrial Average climbed 0.5% to 44,901.92, while the Nasdaq composite added 0.2%, closing at 21,108.32 to top its own record. Deckers, the company behind Ugg boots and Hoka shoes, jumped 11.3% after reporting stronger profit and revenue for the spring than analysts expected. Its growth was particularly strong outside the United States, where revenue soared nearly 50%. But Intel fell 8.5% after reporting a loss for the latest quarter, when analysts were looking for a profit. The struggling chipmaker also said it would cut thousands of jobs and eliminate other expenses as it tries to turn around its fortunes. Intel, which helped launch Silicon Valley as the U.S. technology hub, has fallen behind rivals like Nvidia and Advanced Micro Devices while demand for artificial intelligence chips soars. Companies are under pressure to deliver solid growth in profits to justify big gains for their stock prices, which have rallied to record after record in recent weeks. Wall Street has zoomed higher on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. Trump has recently announced deals with Japan and the Philippines, and the next big deadline is looming on Friday, Aug. 1. Apart from trade talks, this week will also feature a meeting by the Federal Reserve on interest rates. Trump again on Thursday lobbied the Fed to cut rates, which he has implied could save the U.S. government money on its debt repayments. Fed Chair Jerome Powell has said he is waiting for more data about how Trump's tariffs affect the economy and inflation before making a move. The widespread expectation on Wall Street is that the Fed will wait until September to resume cutting interest rates. In other dealings early Monday, U.S. benchmark crude oil gained 24 cents to $65.40 per barrel. Brent crude, the international standard, also added 24 cents to $67.90 per barrel. The dollar rose to 147.72 Japanese yen from 147.71 yen. The euro slipped to $1.1755 from $1.1758.
CTV News
6 days ago
- Business
- CTV News
World shares rise, buoyed by hopes for more trade deal after the U.S.-Japan tariff pact
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, July 24, 2025. (AP Photo/Ahn Young-joon) MANILA, Philippines — World shares rose Thursday, buoyed by optimism that the U.S.-Japan tariff agreement announced a day earlier will be followed by more trade deals. Later Thursday, the European Central Bank was expected to hold off on making another interest rate cut as it waits to measure the size of any economic blow from higher U.S. tariffs. U.S. President Donald Trump has sent the EU a letter laying out a 30% tariff rate, but European trade officials are hoping to haggle that down to as low as 10%. Separately, European leaders called for concrete progress in addressing the bloc's yawning trade deficit with China at a summit with President Xi Jinping in the Chinese capital on Thursday. In early European trading, Germany's DAX rose 0.8% to 24,430.74. In Paris, the CAC 40 added 0.2% to 7,862.52, while Britain's FTSE 100 climbed 1% to 9,150.50. The future for S&P 500 added less than 0.1% while that for the Dow Jones Industrial Average was down 0.3%. Trump has proposed stiff taxes on imports from around the world, which carry the double-edged risk of driving up inflation while slowing economies. But many of his tariffs are on pause, giving time to reach deals with other countries that could lower the tax rates. Trump also announced trade agreements with the Philippines and Indonesia this week. Japan's Nikkei 225 surged 1.6% to 41,826.34. It had jumped 3.5% a day earlier on enthusiasm over the trade deal with Washington, which would raise U.S. import duties on most exports from Japan to 15% from 2.5%, instead of the 25% Trump had threatened to impose. The Shanghai Composite Index added 0.7% to 3,605.73, while Hong Kong's Hang Seng index rose 0.5% to 25,667.18. South Korea's Kospi added 0.2% to 3,190.45, shedding some of its earlier gains, after central bank data showed Thursday that the country's economy expanded at a 0.6% annual rate in the last quarter, above expectations thanks to robust private consumption and exports. Australia's S&P ASX 200 slid 0.3% to 8,709.40. Taiwan's Taiex gained 0.2% while India's BSE Sensex shed 0.7%. 'Asian equities caught another updraft, rising for a sixth straight session, as whispers of broader trade accords scattered across the tape like migrating birds sensing the storm has passed,' Stephen Innes of SPI Asset Management wrote in a commentary. 'With the ink barely dry on the U.S.-Japan tariff truce — inked at a palatable 15% — traders are already scanning the horizon for the next deal to surface. Europe? Maybe. India? China? Everyone? Perhaps. But the mood is pure Electric Avenue,' he added. The Nomura Group, in a research report, said the tariff rates set by the U.S. for Indonesia and the Philippines, at 19%, 'are fairly high and therefore pose downside risks to their respective growth outlooks.' It estimated the direct effects could reduce GDP growth by 0.2 percentage point in Indonesia and 0.4 percentage point in the Philippines. Still, most markets across the region advanced. On Wednesday, U.S. stocks set more records following a trade deal between the world's No. 1 and No. 4 economies, one that would lower proposed tariffs on Japanese imports coming to the United States. The S&P 500 added 0.8% to its all-time high. The Dow Jones Industrial Average rallied 507 points, or 1.1%, and the Nasdaq composite climbed 0.6% to hit its own record. So far, the U.S. economy has seemed to hold up OK despite the pressures on it. And tariffs already in place may be having less of an effect than expected, at least when it comes to the prices that U.S. households are paying at the moment. In other dealings on Thursday, U.S. benchmark crude oil added 90 cents to US$66.15 per barrel. Brent crude, the international standard, rose 84 cents to $69.35 per barrel. The U.S. dollar climbed to 146.60 Japanese yen from 146.51 yen. The euro slid to $1.1751 from $1.1777. Teresa Cerojano, The Associated Press
