Internewscast Journal
  • Home
  • US News
  • Local News
  • Health
  • People
  • Guest Post
  • Support Our Cause
Internewscast Journal
  • Home
  • US News
  • Local News
  • Health
  • People
  • Guest Post
  • Support Our Cause
Home Local news Asian Markets Rise Following Wall Street Surge, Though Trade War Doubts Linger
  • Local news

Asian Markets Rise Following Wall Street Surge, Though Trade War Doubts Linger

    Asian shares gain after Wall Street's rally, but hopes are tempered by trade war uncertainties
    Up next
    Trump drug order can work, but only with Dems' cooperation: McCarthy
    McCarthy Says Trump’s Drug Plan Needs Democratic Teamwork to Succeed
    Published on 13 May 2025
    Author
    Internewscast
    Tags
    • After,
    • ARE,
    • asian,
    • Business,
    • but,
    • Donald Trump,
    • gain,
    • hopes,
    • Jonathan Pingle,
    • rally,
    • Shares,
    • Stephen Innes,
    • Street039s,
    • tempered,
    • Trade,
    • uncertainties,
    • wall,
    • war,
    • world news
    Share this @internewscast.com
    FacebookXRedditPinterest

    Asian shares advanced Tuesday after China and the United States announced a 90-day truce in their trade war, but the gains were tempered by uncertainties over the longer term, as analysts warned President Donald Trump’s policies could still quickly change.

    The United States and China said in a joint statement that it will cut tariffs on Chinese goods to 30% from as high as 145%. China, meanwhile, said its tariffs on U.S. goods will fall to 10% from 125%. The 90-day pause gives time for more talks following the weekend’s negotiations in Geneva, Switzerland, which the U.S. side said yielded “ substantial progress.”

    The outcome surpassed most expectations, reassuring investors,” said Stephen Innes of SPI Asset Management.

    “Make no mistake, this was highly stage-managed diplomacy. But the optics are good and the implications real. It signals that even this administration recognizes the economic drag of unrelenting tariffs,” he said in a commentary.

    Tokyo’s Nikkei 225 jumped 1.8% to 38,326.37, while the Kospi in South Korea gained 0.2% to 2,612.30.

    Hong Kong’s Hang Seng, which gained 3% a day earlier after Chinese and U.S. officials announced the agreement to pause tariffs and reduce them, fell 0.7% to 23,374.06.

    The Shanghai Composite index edged 0.2% higher to 3,374.93. Taiwan’s Taiex jumped 1.9%.

    Australia’s S&P/ASX 200 climbed 0.6% to 8,281.40.

    On Monday, the world’s two largest economies agreed to take down temporarily most of their tariffs against each other.

    The S&P 500 shot up 3.3% to pull back within 5% of its all-time high set in February. It’s been roaring higher since falling nearly 20% below the mark last month on hopes that President Donald Trump will lower his tariffs after reaching trade deals with other countries.

    Closing at 5,844.19, the index at the heart of many 401(k) accounts is back above where it was on April 2, Trump’s “Liberation Day,” when he announced stiff worldwide tariffs that ignited worries about a potentially self-inflicted recession.

    The Dow Jones Industrial Average jumped 1,160 points, or 2.8%, to 42,410.10. The Nasdaq composite surged 4.3% to 18,708.34.

    A global economy less burdened by tariffs will likely burn more fuel, so the agreement to scale back tariffs by more than what many investors expected also boosted oil prices. But early Tuesday, they fell back. U.S. benchmark crude oil lost 6 cents to $61.89 per barrel. Brent crude, the international standard, shed 8 cents to $64.88 per barrel.

    The value of the U.S. dollar strengthened against everything from the euro to the Japanese yen to the Swiss franc. And Treasury yields jumped on expectations that the Federal Reserve won’t have to cut interest rates as deeply this year as earlier expected.

    Early Tuesday, the dollar was trading at 147.98 Japanese yen, down from 148.47 yen. But it gained against the euro, climbing to $1.1101 from $1.088.

    The move announced Monday could add 0.4 percentage points to the U.S. economy’s growth this year, according to Jonathan Pingle, U.S. chief economist at UBS. That’s a significant chunk, and every bit counts when the U.S. economy shrank at a 0.3% annual rate in the first three months of the year.

    Big challenges remain in the negotiations between Beijing and Washington.

    The U.S.-China pause followed a deal the United States announced last week with the United Kingdom that will bring down tariffs on many U.K. imports to 10% but will still require weeks to finalize all the details.

    But many Asian countries have yet to negotiate tariff-alleviating deals of their own.

    Economic reports scheduled for later this week, including on inflation and sentiment among U.S. consumers, could show how much damage to the economy has been inflicted by the uncertainty over tariffs.

    Many retailers rose because much of what they sell comes from China and elsewhere in Asia. Best Buy jumped 6.6%, and Amazon rallied 8.1%.

    Stocks of smaller U.S. companies rallied on Monday. Their livelihoods depend more on the strength of the U.S. economy than their bigger and more insulated rivals, and the smaller stocks in the Russell 2000 index jumped 3.4%.

    Apparel companies that source much of their supplies from China also gained. Lululemon leaped 8.7% and Nike rose 7.3%.

    Travel companies jumped on hopes that lower tariffs would encourage more customers to feel comfortable enough to spend on trips. Carnival rose 9.6%, and Delta Air Lines climbed 5.8%.

    __

    AP Business writers Stan Choe and Matt Ott contributed.

    Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

    Share this @internewscast.com
    FacebookXRedditPinterest
    You May Also Like
    4 former Milwaukee hotel workers get probation and time served in dogpile death
    • Local news

    4 Ex-Hotel Employees in Milwaukee Receive Probation and Credit for Time Served After Dogpile Death

    MADISON, Wis. – On Wednesday, a judge sentenced four former employees of…
    • Internewscast
    • September 3, 2025
    Epstein survivors rally for transparency on Capitol Hill
    • Local news

    Epstein Victims Demand Clarity at Capitol Hill Rally

    Internet Explorer 11 is not supported. For the best experience, please use…
    • Internewscast
    • September 3, 2025
    'It was always the vision' Chase Brown soaks in Illini home opener ahead of NFL season
    • Local news

    “Chase Brown Reflects on Illini Home Opener as He Prepares for NFL Journey”

    CHAMPAIGN, Ill. (WCIA) – Illinois football listed the attendance for Friday night’s…
    • Internewscast
    • September 3, 2025
    In rare interviews, federal judges criticize Supreme Court's handling of Trump cases
    • Local news

    In unusual interviews, federal judges express disapproval of Supreme Court’s approach to Trump-related cases

    WASHINGTON — Federal judges are frustrated with the Supreme Court for increasingly…
    • Internewscast
    • September 4, 2025

    Defense Objects to Venue Change for Former Letcher County Sheriff’s Murder Trial

    LETCHER COUNTY, Ky. (WJHL) — The defense team has responded to a…
    • Internewscast
    • September 4, 2025

    Splash Bash Begins at Kingsport Aquatic Center

    The Kingsport Aquatic Center in Kingsport, Tenn. (WJHL), launched its Drool Party…
    • Internewscast
    • September 4, 2025
    Asian shares are higher after Wall Street steadies itself as Alphabet rallies
    • Local news

    Asian markets see gains following Wall Street’s recovery driven by Alphabet’s surge

    MANILA – Asian stock markets generally saw gains on Thursday, buoyed by…
    • Internewscast
    • September 4, 2025

    Two Schools in Sullivan County Dismissing Students Early Due to Waterline Issue

    SULLIVAN COUNTY, Tenn. (WJHL) — A waterline break in Sullivan County has…
    • Internewscast
    • September 3, 2025
    'Missing minute' of Jeffrey Epstein jailhouse video surfaces
    • Local news

    “Revealed: The ‘Missing Minute’ from Jeffrey Epstein Jail Video”

    An attorney known for representing victims of sex trafficker Jeffrey Epstein is…
    • Internewscast
    • September 4, 2025
    South Carolina woman accused in death of baby left in hot car released from jail on bond
    • Local news

    South Carolina Woman Charged in Infant’s Hot Car Death Freed on Bail

    A woman from Williamsburg County, South Carolina, who was responsible for a…
    • Internewscast
    • September 4, 2025
    Weapons, military units on display in China's major parade
    • Local news

    China Showcases Military Weapons and Units in Grand Parade

    BEIJING (AP) — Some of the weapons and military units in China’s major…
    • Internewscast
    • September 3, 2025
    Hot mic captures Xi and Putin discussing immortality and organ transplants
    • Local news

    Microphones Pick Up Xi and Putin Chatting About Eternal Life and Organ Transplant Advances

    IE 11 is not supported. For an optimal experience visit our site…
    • Internewscast
    • September 4, 2025

    Arsenal to Release Classic ’90s Jersey in New Retro Line

    Arsenal is poised to reintroduce their iconic 1992-94 home jersey as part…
    • Internewscast
    • September 4, 2025
    SpaceX Falcon 9 rocket to send more Starlink satellites into orbit from Florida
    • Local news

    SpaceX Falcon 9 Launches Additional Starlink Satellites from Florida

    KENNEDY SPACE CENTER, Fla. – SpaceX on Friday will launch yet another…
    • Internewscast
    • September 4, 2025

    High Springs Resident Sentenced for Distributing Child Pornography

    Press release from the U.S. Attorney, Northern District of Florida GAINESVILLE, Fla.…
    • Internewscast
    • September 4, 2025
    Linehan was 'relentless' in his posts about transgender woman
    • News

    Linehan’s Persistent Commentary on Transgender Woman Spurs Discussion

    Father Ted creator Graham Linehan was described as ‘relentless’ in his…
    • Internewscast
    • September 4, 2025
    Internewscast Journal
    • Home
    • Privacy Policy
    • DMCA Notice
    • Terms and Conditions
    • Guest Post
    • Support Our Cause
    Copyright 2023. All Right Reserverd.