IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian stock markets traded mostly lower on Friday, pressured by renewed trade tensions after U.S. President Donald Trump announced plans to impose sweeping tariffs. Trump said Washington will start sending letters to major economies, setting new flat tariff rates between 20% and 30%, bypassing traditional trade negotiations. The first batch of letters will reportedly go out to 10 countries today.
This move marks a sharp return to protectionist trade policies, sparking fears of retaliation and disruptions to global supply chains—particularly affecting export-reliant economies across Asia. So far, the U.S. has only secured trade agreements with the UK, Vietnam, and a partial framework with China, falling short of Trump’s earlier goal of 90 deals in 90 days.
Market sentiment was already cautious after a stronger-than-expected U.S. jobs report on Thursday. The data lifted Wall Street in a shortened holiday session but also reduced expectations for a near-term Federal Reserve rate cut. The “higher-for-longer” interest rate outlook added to risk aversion in Asia.
South Korea’s KOSPI index fell 1.6%, while Hong Kong’s Hang Seng dropped 1.2%, with chipmakers and auto stocks among the worst performers. Japan’s Nikkei 225 remained flat, and the broader TOPIX slipped 0.2%. China’s Shanghai Composite and CSI 300 each rose 0.2% amid cautious optimism. Australia’s ASX 200 added 0.2%, while Singapore’s Straits Times Index declined 0.3%. India’s Nifty 50 futures edged down 0.2%.
U.S. stock futures dipped slightly during Asian hours, with U.S. markets closed for the Independence Day holiday. Investors are now watching closely for global responses to Trump’s tariff rollout, which could trigger broader economic fallout across key Asian markets.
