Desk
Share
Asian Markets: Asian stock markets increased following the announcement by President Donald Trump postponing tariffs on several consumer electronics which eased the markets after a turbulent week. The dollar depreciated. In response to Trump's announcement, stock index futures for Asian markets and even the United States, and European markets registered gains at the start of trading on Monday. However, there is a suggestion that a specific tariff will be unveiled at some undeclared future date. US Treasuries were opened steady.
The suspension of tariffs on mobile phones, laptops, and memory chips brought temporary relief to the markets hit hard by Trump's tariff policies. Trump’s comments, along with those made by other U. S. government officials, suggest that there is a possibility of imposing tariffs on phones and computers along with other popular consumer electronics. The proposed additional tariffs on China may be lower than the 125% already placed. Moreover, there is indication it will take several weeks or months to implement these tariffs. It is a good period of respite for the economy.
Wilson Asset Management's portfolio manager based in Sydney, Matthew Hoppt, says that the short-term trading has become difficult due to contradicting remarks and policies. The market is expecting that further negotiations will result in reaching an agreement that surpasses the current terms.
Asian tech stocks increased by 1.5% due to the tariffs placed on tech stocks, with strong gains made by Sony Group Corp and Samsung Electronics.
Looking at the Asian indices, GIFT Nifty is expected at 23,303 up by 276 points or 1.20 percent. Japan's Nikkei is trading at 34,127.50 up by 585.04 points or 1.74 percent. Strait Times is also trading up by 51.40 points or 1.46 percent. Hang Seng is also trading higher, up by 479.28 points or 2.29 percent. Taiwan's market is also expected to rise, currently at 19,724.27 up by 217.78 points or 1.12 percent. KOSPI is currently at 2,450.65, up 20.29 points or 0.83 percent. The Shanghai Composite is also trading higher, up 27.89 points or 0.85 percent.
Read More: Does Honda Make a 4x4 Truck? Exploring Honda's Pickup Options and AWD Capability
