Asian Stocks Rise After Choppy Day On Wall Street
Asian stocks rose at the open after US equities closed higher in a volatile session as investors weighed renewed US-China trade tensions. Shares in Japan, Australia, and South Korea all gained, while futures pointed to a weaker open for Hong Kong.
US stocks had a wild ride on Wednesday — after a rally that drove the S&P 500 up as much as 1.2%, the gauge turned lower and then eventually ended trading 0.4% up. A gauge of dollar strength slipped for a third day, while Treasuries stalled after two-year yields approached their lowest level this year.
US-China Trade Tensions
President Donald Trump said the US was now locked in a trade war with China, while Treasury Secretary Scott Bessent proposed a longer pause on high tariffs to ease a dispute over critical minerals. The remarks added to market whiplash as tensions between Washington and Beijing flared again, with stocks fluctuating after Friday’s selloff and pulling in dip buyers.
“Investors who are buying the dip are still driving the action, keeping sentiment firm even as technical indicators show signs of strain,” said Mark Hackett, a strategist at Nationwide. For Indian investors, it’s essential to stay informed about US China trade tensions and their impact on the global economy.
Oil and Gold Prices
Elsewhere, oil rose from a five-month low after Trump said Indian Prime Minister Narendra Modi had vowed to halt purchases of Russian barrels, a move that could squeeze global supply. Gold topped $4,200 an ounce for the first time. Indian investors can stay updated on oil prices and gold prices and their impact on the Indian economy.
Treasury Yields
Treasury yields edged higher on Wednesday. The yield on two-year notes closed at 3.50% after earlier trading within about three basis points of the low reached during April’s tariff-fueled market chaos. Indian investors can learn more about Treasury yields and their impact on the Indian stock market.
Earnings Season
Following one of the best six-month stretches for equities since the 1950s, the market has seen brief bouts of profit-taking in a move dubbed a “healthy reset” after a torrid surge. Those downward shifts haven’t lasted long on speculation that Federal Reserve interest-rate cuts will keep the positive momentum going for American companies.
As the earnings season got under way, Morgan Stanley and Bank of America Corp. jumped on solid results. Meantime, positive comments on artificial intelligence from ASML Holding NV boosted chipmakers. In late hours, United Airlines Holdings Inc. reported better-than-expected earnings. Indian investors can stay updated on earnings season and its impact on the Indian stock market.
Market Moves
Some of the main moves in markets include:
- S&P 500 futures were little changed as of 9:20 a.m. Tokyo time
- Hang Seng futures fell 0.2%
- Japan’s Topix rose 0.8%
- Australia’s S&P/ASX 200 rose 0.4%
- Euro Stoxx 50 futures rose 1.2%
- The Bloomberg Dollar Spot Index was little changed
- The euro was little changed at $1.1650
- The Japanese yen rose 0.2% to 150.73 per dollar
- The offshore yuan was little changed at 7.1276 per dollar
- Bitcoin fell 0.4% to $110,714.51
- Ether rose 0.7% to $3,991.73
- The yield on 10-year Treasuries was little changed at 4.02%
- Japan’s 10-year yield was unchanged at 1.650%
- Australia’s 10-year yield was little changed at 4.21%
- West Texas Intermediate crude rose 1.2% to $58.95 a barrel
- Spot gold rose 0.2% to $4,217.79 an ounce
Indian investors can stay informed about market moves and their impact on the Indian economy. For more information on stock market news, Nifty levels, and Sensex news, visit our website.