China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
India Budget 2026: Modi Government Eyes Reforms Amid Global Uncertainty and Fiscal Pressures 
U.S.–Venezuela Relations Show Signs of Thaw as Top Envoy Visits Caracas 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
EU Recovery Fund Faces Bottlenecks Despite Driving Digital and Green Projects 
Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
Asian Markets Slide as Silver Volatility, Earnings Season, and Central Bank Meetings Rattle Investors 
Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
Why Trump’s new pick for Fed chair hit gold and silver markets – for good reasons 
Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
Asian shares opened weaker on Friday as investors reacted to fresh U.S. tariffs announced by President Donald Trump and scaled back expectations of aggressive Federal Reserve rate cuts. Trump revealed sweeping new duties, including 100% tariffs on imported branded drugs, 25% on heavy-duty trucks, and 50% on kitchen cabinets. Additional tariffs of 50% on bathroom vanities and 30% on upholstered furniture will begin next week, with all measures effective October 1.
The impact was immediate across Asia-Pacific markets. Japan’s Topix pharmaceutical index slid 1.4%, while Australian biotech giant CSL dropped more than 3%. The Nikkei fell 0.5%, and MSCI’s broadest Asia-Pacific index outside Japan lost 0.45%. Analysts noted the tariffs added to global market uncertainty, with IG’s Tony Sycamore saying risk assets faced “a shaky backdrop.” U.S. futures also reflected caution, with Nasdaq down 0.08% and S&P 500 slipping 0.02%. In contrast, European futures managed small gains, with EUROSTOXX 50 up 0.37% and FTSE rising 0.25%.
Markets were also pressured by stronger-than-expected U.S. economic data, which reduced expectations of deep Fed cuts. Traders are now pricing in roughly 39 basis points of cuts by December, down from earlier projections. Economists at Wells Fargo highlighted America’s resilience, while Fed policymaker Stephen Miran urged sharper cuts to protect the labor market. The dollar strengthened, hovering near 150 yen, while the euro slipped to $1.1668 and sterling steadied at $1.3344.
In commodities, Brent crude rose 0.24% to $69.59 a barrel and U.S. crude gained 0.43% to $65.26. Spot gold edged up to $3,751.69 an ounce. Meanwhile, Trump signaled possible easing of sanctions on Turkey following talks with President Tayyip Erdogan, suggesting Ankara could resume F-35 jet purchases if it halts Russian oil imports.
