Asia markets climb after Trump’s tariff exemption pledge

MG News | August 07, 2025 at 09:27 AM GMT+05:00
August 7, 2025 (MLN): Asia-Pacific markets mostly rose following U.S. President Donald Trump’s vow to impose a 100% tariff on imports of semiconductors and chips, with exemptions for companies “building in the United States.”
Asian chip-related stocks responded unevenly to the
announcement, reflecting investor uncertainty over the unclear criteria for
tariff exemptions.
Japan’s Topix index briefly touched an all-time high, rising
0.9%, while the tech-heavy Nikkei also gained about the same, as CNBC reported.
Taiwan’s benchmark surged 2.3% to its highest level in over a year, driven by strength in the tech sector.
South Korea’s KOSPI added 0.6%,
Hong Kong’s Hang Seng rose 0.4%, and mainland Chinese blue chips advanced 0.3%.
Indian stocks, however, declined in early trade after Trump
imposed an additional 25% tariff, bringing total levies on India to 50% over
its purchases of Russian oil.
The Nifty 50 dropped 0.31%, and the BSE Sensex slipped
0.35%.
Australian shares edged slightly lower after reaching a
record high on Wednesday.
Overall sentiment in the region was buoyed by tech-led gains
on Wall Street, strong corporate earnings, and growing expectations for U.S.
interest rate cuts.
U.S. stock futures remained upbeat, with both S&P 500 and Nasdaq futures up 0.3%.
On Wednesday, the S&P 500 climbed 0.7%, while
the Nasdaq Composite advanced 1.2%.
Analysts warned of persistent downside risks despite the optimism.
Capital.com’s Kyle Rodda noted that while “Wall Street seems to have
gotten its mojo back,” stretched valuations and rising trade uncertainties pose
challenges.
He pointed to increasing downside surprises in official
economic data, including last Friday’s payrolls report.
The U.S. dollar remained soft against major peers as
expectations for a dovish Federal Reserve grew, fueled by weaker macroeconomic
indicators and Trump’s influence over upcoming Fed appointments.
The dollar index inched up to 98.245 after a 0.6% decline,
while the euro held steady at $1.1657 and sterling was unchanged at $1.3356.
Markets also awaited the Bank of England’s policy decision,
with a quarter-point rate cut widely expected.
However, internal divisions within the Monetary Policy
Committee may influence the outlook, as some members push for deeper cuts while
others favor holding rates steady.
The dollar added 0.1% to 147.53 yen.
Gold rose 0.4% to around $3,382 per ounce on a weaker
dollar. Oil prices clawed back modest gains after a 1% drop on Wednesday, with
Brent crude up to $67.09 per barrel and WTI at $64.57.
Investor sentiment was also supported by the prospect of a
meeting between Trump and Russian President Vladimir Putin over the war in
Ukraine, which boosted the euro and weighed on oil prices amid speculation on
potential sanction adjustments.
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KSE100 | 146,004.51 175.17M | 0.63% 916.01 |
ALLSHR | 90,398.80 399.03M | 0.85% 765.64 |
KSE30 | 44,806.27 79.36M | 0.21% 93.72 |
KMI30 | 207,479.80 102.76M | 0.39% 797.64 |
KMIALLSHR | 60,641.37 211.75M | 1.09% 653.10 |
BKTi | 40,349.51 23.02M | 0.83% 332.55 |
OGTi | 30,447.35 15.66M | 1.43% 430.20 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 115,260.00 | 115,820.00 114,685.00 | -570.00 -0.49% |
BRENT CRUDE | 67.31 | 67.58 66.83 | 0.42 0.63% |
RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
CRUDE OIL - WTI | 64.78 | 65.08 64.26 | 0.43 0.67% |
SUGAR #11 WORLD | 16.04 | 16.16 16.00 | -0.05 -0.31% |
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