Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
China Manufacturing PMI Edges Higher in June as Exports and AI Investment Boost Growth 
Trump Questions Housing Bill as He Prioritizes SAVE America Act 
Dollar Slips Ahead of Key U.S. Jobs Data as Fed Rate Outlook, ECB, and Iran Talks Shape Forex Markets 
Asian Stocks End Strong Quarter as Dollar Surges, Yen Hits 40-Year Low Ahead of US Jobs Data 
Central Banks Eye Gold, Reduce Dollar Exposure as AI Adoption Accelerates: OMFIF Survey 
RBA Minutes Signal Australia Central Bank Remains Ready to Raise Interest Rates if Inflation Persists 
Wall Street Futures Rise Ahead of JOLTS Data, Nike Earnings, and U.S.-Iran Talks 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
US Stock Futures Steady as Investors Await Payrolls Data and Monitor Iran Tensions 
Argentina Economy Shrinks 1.5% in April, Recovery Under Milei Loses Momentum 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Trump Urges Gasoline Retailers to Cut Prices to $2.50 Per Gallon, Warns of Legal Action 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Oil Prices Slip as U.S.-Iran Peace Talks and Strait of Hormuz Risks Keep Markets on Edge 
Most Asian stocks declined Wednesday as risk appetite waned following U.S. President Donald Trump’s renewed tariff threats. Weak U.S. economic data also weighed on sentiment, while Hong Kong markets stood out with strong gains in Chinese tech stocks.
Wall Street’s losses extended for a fourth session as weak consumer confidence data heightened concerns over a slowing U.S. economy. Trump’s tariff threats on copper, along with his plans for 25% tariffs on Canada and Mexico by early March, added to market jitters.
Despite this, U.S. stock futures edged higher in Asian trade, hinting at potential bargain buying ahead of Nvidia’s earnings release later in the day.
Hong Kong’s Hang Seng Index surged over 2%, nearing a two-year high, as investors remained bullish on China’s artificial intelligence sector. Major tech players like Alibaba, Tencent, and Baidu led the rally, fueled by optimism over AI-driven growth. Gains extended into broader Chinese markets, with the Shanghai Composite and CSI 300 seeing mild increases.
However, other Asian tech stocks struggled as investors turned cautious ahead of Nvidia’s earnings. Japan’s Nikkei 225 dropped 0.5%, while South Korea’s KOSPI dipped 0.1%. Taiwan Semiconductor Manufacturing Co. (TSMC) and Hon Hai Precision Industry (Foxconn), key Nvidia suppliers, also saw modest declines.
Broader Asian markets remained weak due to concerns over U.S. economic data and trade risks. Australia’s ASX 200 fell 0.3% after inflation data suggested limited scope for rate cuts. Japan’s TOPIX dropped 1.1%, while Singapore’s Straits Times Index remained flat.
Overall, uncertainty surrounding U.S. trade policies and economic growth continued to pressure global markets, with investors closely watching Nvidia’s earnings for further direction.
