US-China Trade Truce Sends Stocks Higher; India Equity Outlook
Asian stocks followed gains in US equities on optimism the US-China trade truce marks the end to an all-out tariff war. Shares in Australia and Japan jumped at the open after the S&P 500 closed more than 3% higher. Japan's Topix gained for a 13th day, putting it on track for it longest winning streak in 16 years. A gauge of US-listed Chinese stocks surged 5.4% on Monday in its best session in over two months. The dollar was little changed in Asia after jumping Monday. The return of risk appetite came as trade negotiators from the world's two biggest economies announced Monday a massive de-escalation in tariffs. In a carefully coordinated joint statement, the US slashed duties on Chinese products to 30% from 145% for a 90-day period, while Beijing dropped its levy on most goods to 10%. We get reaction from Brian Krawez, President and Lead Portfolio Manager at Scharf Investments. Plus - stocks in Pakistan and India rallied Monday as a ceasefire agreement between the two nuclear-armed neighbors calmed markets that had been shaken by military clashes on their border. Pakistan's stock benchmark KSE-30 Index closed 9.3% higher, the most since 2008, in a rally that triggered an hour-long trading halt. The NSE Nifty 50 Index rose 3.8% in Mumbai, as both nations stepped back from the brink of war, allowing market participants to turn their focus back to the economic outlook for the South Asian nations. We take a closer look at the outlook for Indian equities with Peeyush Mittal, Senior Equity Research Analyst at Matthews Asia.See omnystudio.com/listener for privacy information.
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21:03
APAC Stocks, US Futures Edge Higher After US-China Trade Talks
The US and China both reported "substantial progress" after two days of talks in Switzerland aimed at de-escalating a trade war, marking what Chinese Vice Premier He Lifeng called "an important first step" toward resolving differences. While neither side immediately announced specific measures on Sunday, He said the world's two biggest economies agreed to create a mechanism for further talks, led by US Treasury Secretary Scott Bessent and himself. Bessent said the US would share details on Monday and He promised a joint statement. We get analysis from Alicia Garcia Herrero, Chief APAC Economist at Natixis. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts. Plus - Japanese stock futures rose on optimism the US-China trade tension may begin to de-escalate after those talks. The Nikkei 225 has climbed 5% through Friday since US President Donald Trump announced so-called reciprocal tariffs on April 2nd, among the best performing major markets. Japan last month was one of the first countries to formally engage in talks with the US, though an agreement is yet to be made. For more on Japan's outlook, we hear from Jean Eric Salata, Chairperson at EQT Asia.See omnystudio.com/listener for privacy information.
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Bloomberg Daybreak Weekend: US CPI, Portugal Election, Japan Eco
Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S eco data and earnings from the retail giant, Walmart. In the UK – a look ahead to Portugal’s general election. In Asia – a look ahead to Japan industrial production, PPI, and GDP data. See omnystudio.com/listener for privacy information.
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39:14
Trade Talk Optimism Caps APAC Trading Week
Asian stocks inched higher at the Friday open after US President Donald Trump announced a trade framework with the United Kingdom and signaled tariffs on Chinese goods may fall if upcoming talks go well. Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer are set to meet with Chinese Vice Premier He Lifeng in Switzerland on Saturday. For some analysis, we hear from Claire Reade, Senior Counsel at Arnold & Porter and former Assistant US Trade Representative for China Affairs. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts. Stateside - markets rose Thursday on optimism about the China talks, as well as Trump's UK announcement. The S&P 500 extended gains to session highs, climbing about 1.5%, as Treasuries, gold and haven currencies lost steam. We get reaction from Eli Lee, Chief Investment Strategist at Bank of Singapore, and Derek Wallbank, Bloomberg News Senior Editor in Singapore.See omnystudio.com/listener for privacy information.
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20:24
The Fed Holds Rates Steady, US-China Trade Talks in Focus
Asian stocks traded in a tight range Thursday after the Federal Reserve reiterated it isn't in a rush to lower interest rates, and investors awaited the trade negotiations between China and the US. Stateside, the S&P 500 halted a two-day slide, led by chipmakers as Bloomberg News reported that the Trump administration plans to rescind Biden-era curbs for the industry. For more on the day's market outlook, we heard from Alex Wolf, Head of Asia Investment Strategy at JPMorgan Private Bank. He speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts. Plus - President Donald Trump said Wednesday that he's unwilling to preemptively lower tariffs on China in order to unlock more substantive negotiations with Beijing on trade. His comments come ahead of bilateral talks between Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng this weekend in Switzerland. We get the latest from Bloomberg's US Treasury Reporter, Dan Flatley, along with Bloomberg's China Correspondent, Minmin Low.See omnystudio.com/listener for privacy information.
Join Bloomberg Daybreak Asia for business and finance news centered in the Asia-Pacific region, along with insight and analysis on the day's top stories in global markets.
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