Asian Markets Rise with Global Trade Optimism
Asian Stocks Show Positive Momentum
Asian stock markets mostly rose on Thursday. Investors are hopeful. They believe global leaders will make deals to ease the impact of new US tariffs.
Investors Stay Positive
President Trump expanded his list of trade penalties. Yet, investors remained optimistic. Key Asian indices saw gains. US markets also continued to hit record highs.
Bitcoin Remains Strong
Bitcoin stayed strong. It remained near its all-time high of $112,000. This rise is due to increasing investor interest and more institutional adoption.
US-Brazil Trade Tensions Increase
Tensions between the US and Brazil rose. President Trump imposed a steep 50% tariff on Brazilian goods. This move caused a sharp sell-off in Brazilian assets.
Brazil’s Response to Tariffs
President Luiz Inácio Lula da Silva condemned the decision. He vowed to impose retaliatory measures.
Global Trade Landscape
More than 20 US trading partners received tariff letters. These include Japan and South Korea. The White House is pushing its “Liberation Day” trade agenda.
Deadline Extended
The deadline for this agenda was originally set for July 9. It has now been extended to August 1.
More Tariffs Considered
President Trump has also suggested a 50% tariff on copper imports. He is considering a 200% tariff on pharmaceuticals.
Wall Street Continues to Rally
Despite rising trade tensions, Wall Street continued its rally. The Nasdaq hit another record high. This surge was driven by a rise in Nvidia, which briefly hit a $4 trillion market valuation.
Asian Markets Follow the Trend
Regional Asian markets followed the positive momentum. Hong Kong, Shanghai, Sydney, Seoul, and Singapore all ended higher. Japan’s Nikkei 225, however, slipped 0.5% after facing a 25% US tariff and stalled talks with Washington.
Key Market Figures as of 0230 GMT
- Tokyo – Nikkei 225: Down 0.5% at 39,610.61
- Hong Kong – Hang Seng Index: Up 0.2% at 23,938.07
- New York – Dow Jones: Up 0.5% at 44,458.30 (close)
- London – FTSE 100: Up 0.2% at 8,867.02 (close)