Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Asian shares and Wall Street futures rallied Thursday after a U.S. court blocked President Donald Trump’s proposed "Liberation Day" tariffs, boosting market sentiment and sending the dollar higher against safe haven currencies. The Court of International Trade in Manhattan ruled that Trump exceeded his constitutional authority by imposing broad tariffs on countries with trade surpluses against the U.S., sparking optimism among investors.
The White House quickly appealed the ruling, with potential escalation to the Supreme Court. Despite uncertainty, markets responded positively. Japan’s Nikkei jumped 1%, while South Korea’s Kospi rose 0.8%. MSCI’s Asia-Pacific index excluding Japan also edged higher as Chinese markets awaited opening.
S&P 500 futures climbed 1.5%, and Nasdaq futures gained 1.8%, supported by strong earnings from Nvidia (NASDAQ:NVDA). The chipmaker surpassed sales expectations and projected strong future revenues, pushing its shares up 4.4% in after-hours trading.
However, tension with China continued to mount. The Financial Times reported the U.S. ordered a halt to semiconductor design software sales to Chinese firms, while the New York Times noted Washington suspended sales of certain critical technologies, including jet engines and advanced chemicals.
The dollar surged, rising 0.8% against the Swiss franc to 0.336 and 0.6% against the yen to 145.76. The euro dipped 0.5% to $1.1230. Treasury yields rose, with the 10-year yield reaching 4.51%, as investors further pushed back expectations for a Federal Reserve rate cut. July odds fell to 22%, with September now at 60%.
Gold slipped 0.9% to $3,259 an ounce. Oil prices extended gains as OPEC+ maintained output levels and the U.S. restricted Chevron (NYSE:CVX) from exporting Venezuelan crude, lifting U.S. crude to $62.31 per barrel.
