Asian stock markets remained steady on Monday as euro strengthened following an extension of U.S. tariff threats by President Donald Trump, giving temporary relief to investors amid ongoing trade uncertainties.
Trump delayed the deadline for imposing 50% tariffs on EU goods from June 1 to July 9 after the European Commission requested more time to negotiate a deal. Despite signs of market stabilization after last month’s selloff, Trump’s unpredictable trade policy keeps investors cautious. Analysts note a shift of funds from the U.S. to Europe and Asia amid concerns about a possible U.S. recession and global slowdown.
Asian shares were mostly flat, with Japan’s Nikkei gaining on positive news for Nippon Steel. The euro reached its highest level since April, while risk-sensitive currencies like the Australian and New Zealand dollars also gained. Meanwhile, China’s markets fell slightly after tariff threats on iPhones, though signs of a resilient global economy provided some relief. Investors remain watchful ahead of inflation data releases from Japan, Germany, and the U.S.
Read next
08:46
World News
French President Emmanuel Macron is set to meet Indonesian President Prabowo Subianto in Jakarta to discuss strengthening defence cooperation and mining partnerships between the two countries.
07:46
Science News
SpaceX's latest Starship launch from Texas ended in an uncontrolled spin before completing key mission goals, highlighting fresh challenges for Elon Musk’s ambitious Mars program.
07:17
World News
U.S. President Donald Trump's administration has moved to terminate all remaining federal contracts with Harvard University, directing agencies to review and possibly reallocate contracts worth approximately $100 million.
07:00
French police arrest 24 over kidnapping plots targeting crypto figures
06:00
Sudan is on the brink of a serious health disaster as cholera and other deadly diseases spread across the country, warns aid group International Rescue Committee (IRC).
What is your opinion on this topic?
Leave the first comment