Posts by Swedan Margen
Asia: Stocks crack higher as Trump delays painful tariffs
[HONG KONG] Asian stocks rocketed on Thursday as investors breathed a huge sigh of relief after Donald Trump announced a pause on crippling tariffs on US partners, with Chinese markets even brushing off his decision to ramp up duties on Beijing to 125 per cent. Equities surged across the board, tracking a blistering performance on…
Read MoreChinese sellers on Amazon to hike prices or exit US as tariffs soar, association says
[SHENZHEN] Chinese companies that sell products on Amazon are preparing to hike prices for the US or quit that market due to the “unprecedented blow” from President Donald Trump’s tariff hikes, the head of China’s largest e-commerce association said. Trump said on Wednesday he would raise tariffs on Chinese imports to 125 per cent from…
Read MoreAustralian, New Zealand dollars stage massive rally after Trump’s tariff reversal
[SYDNEY] The Australian and New Zealand dollars were revived by a historic stock market rebound after US President Donald Trump paused most of his reciprocal tariffs, but worryingly for the two Antipodeans, he said duties on China would rise to 125 per cent. The Aussie slipped 0.5 per cent to US$0.6121 on Thursday, having rallied 3.3…
Read MoreGold climbs on safe-haven demand as Trump hikes China tariffs
[BENGALURU] Gold prices rose on Thursday (Apr 10) as investors turned to the safe-haven asset after US President Donald Trump escalated tariffs on China, the world’s top metal consumer, despite his decision to temporarily ease steep duties on several other countries. Spot gold was up 0.2 per cent at US$3,089.17 an ounce, as at 0022…
Read MoreCEOs brace for recession even after tariff reprieve boosts stocks
[NEW YORK] US President Donald Trump’s 90-day reprieve on some tariffs sent the stock market soaring on Wednesday (Apr 9). The chaos sown by his ongoing trade war, however, has led many senior business executives to plan for a recession. Corporate chiefs from Delta Air Lines to Walmart are warning of a wave of pessimism…
Read MoreStocks to watch: ST Engineering, SGX, SIA, DBS, UOB, Venture, YZJ Shipbuilding, CapitaLand Investment
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Apr 10). ST Engineering: The company announced on Thursday that its urban solutions business has secured a S$1.4 billion contract to provide turnkey rail services for the new Taichung mass rapid transit Blue Line. The contracted scope covers a…
Read MoreTrump says he does not want to see US Steel go to Japan
[WASHINGTON] US President Donald Trump said on Wednesday he does not want US Steel Corp to go to Japan, suggesting he does not support Nippon Steel’s US$14 billion bid for the American steel producer. The comment appeared to contradict recent actions by the Trump administration. On Monday, Trump directed a national security panel to take…
Read MoreApple’s iPhone cost could rise 90% if it’s made in US: Bank of America report
[LUTON] It’s possible for Apple to move its iPhone production to the US, but it would almost double the cost of making the device while creating logistical headaches, according to the Bank of America (BOA). “The cost of an iPhone can increase 25 per cent purely on higher labour cost in the US,” a group…
Read MoreApple’s iPhone cost could rise 90% if it’s made in US: BOA
[LUTON] It’s possible for Apple to move iPhone production to America, but it would almost double the cost of making the device while creating logistical headaches, according to Bank of America (BOA). “iPhone cost can increase 25 per cent purely on higher labour cost in the US,” BOA analysts led by Wamsi Mohan wrote in…
Read MoreAmazon seeks partners for US$15 billion warehouse expansion plan
[NEW YORK] Amazon.com is considering a US$15 billion warehouse expansion plan for nearly 80 new logistics facilities in US cities and rural areas that would reverse its post-pandemic construction slowdown, according to sources familiar with the matter. The e-commerce company is asking potential capital partners to submit proposals, the sources said, asking not to be…
Read MoreNike’s 30-year gamble on Vietnam is rattled by Trump tariffs
[NEW YORK] At Nike headquarters in Beaverton, Oregon, executives are trying to figure out how to best spread the pain of new tariffs. Nike, the factories that produce its goods, the wholesalers that sell the goods and ultimately shoppers will all likely share portions of the cost, according to a source familiar with the matter…
Read MoreEurope: Shares resume selloff as trade war escalates; healthcare slumps
EUROPEAN shares tumbled further on Wednesday as China more than doubled its tariffs on US imports, with healthcare stocks leading declines after US President Donald Trump threatened more sector-specific tariffs. The pan-European Stoxx 600 slumped 3.5 per cent to 469.89 points, as the previous session’s rally fizzled out. The healthcare sector fell 5.8 per cent to…
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