Stock markets in Asia showed mixed outcomes on Monday, continuing from the momentum set by US stocks which recently hit new records. The rise in US futures and oil prices was linked to trade discussions held in Stockholm between US and Chinese officials. Further developments saw European futures rise after the European Union secured a deal with the Trump administration for a 15% tariff on most US exports.
Part of this economic climate involved Tokyo’s Nikkei 225 falling by 1% to 41,056.81 due to uncertainties surrounding Japan’s trade agreement with President Trump, particularly the $550 billion investment plan in the US. However, Hong Kong’s Hang Seng index advanced by 0.4% and the Taiex in Taiwan increased by 0.3%. The Australian index S&P/ASX 200 also saw a rise of 0.3% to reflect a resilient outlook.
Meanwhile, the technology sector noted significant movements. Deckers, behind the Ugg boots, saw an 11.3% increase in stock after surpassing profit expectations, primarily due to a surge in overseas revenue. Contrastingly, Intel suffered an 8.5% setback following an earnings loss, signaling competitive pressures and a necessity for substantial organizational restructuring. The wider economic narrative highlights a tense trade environment, exacerbated by President Trump’s present negotiations, and anticipations of Federal Reserve interest rate adjustments.
(With inputs from agencies.)
