Asian stocks edge higher as major Wall Street indexes remain mostly unchanged

Cryptopolitan
Updated
Mitrade
coverImg
Source: DepositPhotos

Asian stock markets climbed on Tuesday, extending a calm stretch for investors even as talk of more U.S. tariffs kept worries about global trade in the air. 


Traders in the region took their cue from Wall Street, where major indexes finished Monday almost unchanged ahead of a heavy week of earnings reports and economic figures likely to stir fresh swings.


With Tokyo shut for a holiday, moves in Asia centered on Hong Kong and Shanghai. Hong Kong’s Hang Seng Index advanced 0.5% to 22,070.23. The Shanghai Composite inched 0.1% lower to 3,286.49 after flipping between small gains and losses. 


South Korea’s Kospi jumped 0.8% to 2,568.62, while Australia’s S&P/ASX 200 also rose 0.8% to 8,061.90. Taiwan’s Taiex added 0.5%. U.S. Futures ticked higher in the overnight session, and oil prices eased.


For a second straight session, trading volumes were light. The quiet spell has been a relief after weeks of abrupt moves sparked by shifting hopes that President Donald Trump might soften his stance on trade. So far, little progress is visible. Washington and Beijing each say the other must act first. 


Scott Bessent thinks China wants a de-escalation


Treasury Secretary Scott Bessent told CNBC he thinks China “wants a de-escalation” but warned he carries “an escalation letter in my back pocket, and we’re very anxious not to have to use it.” Speaking later to Fox News, he added, “Maybe they’ll call me one day.”


Since April 2—dubbed “Liberation Day” by the White House—Trump has ordered tariff increases on Chinese goods that together reach 145%. Beijing has answered with duties of up to 125% on imports from the United States, while carving out a few exemptions. 


Many market watchers say the tit-for-tat measures risk tipping the U.S. economy into recession if left in place. Before Monday’s trading began, the S&P 500 erased roughly half of its slide, which had taken it nearly 20% below the record it set earlier this year.


Reports to date show the U.S. economy is still expanding, though momentum is slowing. Economists surveyed expect Wednesday’s first-quarter reading to show growth cooled to an annual rate of 0.8%, down from 2.4% in the final three months of last year. 


Most numbers so far reflect conditions before the April 2 tariff announcement, raising the stakes for fresh figures. Friday’s jobs report will reveal how many workers employers hired in April; forecasts point to a pullback to 125,000 from March’s 228,000.


Households appear to be feeling the strain. Recent surveys indicate consumers have grown markedly less upbeat about the future. The Conference Board’s latest consumer confidence reading is due later Tuesday.


Bond yields stayed lower after retreating from an unusual spike earlier in the month that rattled Wall Street and Washington. The yield on the 10-year Treasury held steady at 4.21% early Tuesday. That earlier surge had raised fears that global investors were questioning the U.S. bond market’s standing as a dependable haven.


Energy markets were softer. Benchmark U.S. crude slipped 33 cents to $61.72 a barrel in electronic trading. Brent crude, the international standard, fell 32 cents to $64.46. In currency dealings, the dollar fetched 142.36 Japanese yen, up from 142.02 yen late Monday. The euro eased to $1.1401 from $1.1422.



* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
Jensen Huang Leads as Nvidia Executives Cash In Over $500 Million Amid Record Highs This MonthNvidia's filing with the SEC on June 26 revealed that since June 20, CEO Jensen Huang has sold a total of 300,000 Nvidia shares, valued at nearly $44.9 million.
Author  TradingKey
12 hours ago
Nvidia's filing with the SEC on June 26 revealed that since June 20, CEO Jensen Huang has sold a total of 300,000 Nvidia shares, valued at nearly $44.9 million.
placeholder
Circle and KakaoPay Shares Tumble 20% — Stablecoin Stock Rally Faces Valuation Reality CheckA strong rally in stablecoin-related stocks swept the markets in June, with shares of Circle (CRCL.US) and KakaoPay (377300.KS) more than doubling amid rising investor optimism.
Author  TradingKey
12 hours ago
A strong rally in stablecoin-related stocks swept the markets in June, with shares of Circle (CRCL.US) and KakaoPay (377300.KS) more than doubling amid rising investor optimism.
placeholder
Coinbase Hits New All-Time High — Outpaces Bitcoin with 38% Monthly SurgeCoinbase (COIN), the largest U.S.-based crypto exchange, has soared more than 38% over the past month, breaking its previous all-time high set in November 2021.
Author  TradingKey
Jun 27, Fri
Coinbase (COIN), the largest U.S.-based crypto exchange, has soared more than 38% over the past month, breaking its previous all-time high set in November 2021.
placeholder
US stock futures open with a new all-time high as Bitcoin stumblesStock futures in the United States opened Thursday night flat, but the S&P 500 still managed to press its face against a fresh record.
Author  Cryptopolitan
Jun 27, Fri
Stock futures in the United States opened Thursday night flat, but the S&P 500 still managed to press its face against a fresh record.
placeholder
Nvidia rose 4% on Wednesday, hits a new all-time highNvidia closed Wednesday as the strongest stock on the board, rising 4% and hitting a new all-time high, while the rest of the market barely moved.
Author  Cryptopolitan
Jun 26, Thu
Nvidia closed Wednesday as the strongest stock on the board, rising 4% and hitting a new all-time high, while the rest of the market barely moved.