Despite Tariff Uncertainty, Asian Mkts Advance

Despite last week’s rally, as talk of Trump firing FedChair Jerome Powell receded and hints emerged of a selective softening of his stance on tariffs, not much has changed. Companies are facing uncertainty created by Trump’s tariffs

Hong Kong: Asian markets inched higher in cautious trading on Monday as investors watched to see what may come of negotiations over US President Donald Trump’s tariffs.US futures fell and oil prices were little changed. Shares in China fell despite more efforts by Beijing to boost the economy, as uncertainty persisted over the status of any talks between Washington and Beijing. The president says he’s actively negotiating with the Chinese government on tariffs — while the Chinese and US Treasury Secretary Scott Bessent have said talks have yet to start.

Hong Kong’s Hang Seng edged 0.1 per cent higher to 21,995.82 while the Shanghai Composite Index was nearly unchanged at 3,294.02. Tokyo’s Nikkei 225 added 0.4 per cent to 35,863.60 and the Kospi in South Korea added 0.1 per cent to 2,5549.19. Australia’s S&P/ASX 200 advanced 0.8 per cent to 8,028.20. Taiwan’s Taiex gained 0.6 per cent

On Friday, Big Tech stocks helped Wall Street close a winning, roller-coaster week, one that saw markets swing from fear to relief and back to caution because of Trump’s trade war. The S&P 500 rose 0.7 per cent to 5,525.21 to add some more to a big three-day rally, and it’s back within 10.1 per cent of its record set earlier this year. Spurts for Nvidia and other influential tech stocks sent the Nasdaq composite up a market-leading 1.3 per cent to 17,382.94. The Dow Jones Industrial Average added only a modest 0.1 per cent to 40,113.50.

Alphabet climbed 1.7 per cent in its first trading after Google’s parent company reported late Thursday that its profit soared 50 per cent in the beginning of 2025 from a year earlier, more than analysts expected. Another market heavyweight, Nvidia, was also a major force pushing the S&P 500 index upward after the chip company rose 4.3 per cent.

They helped offset a 6.7 per cent drop for Intel, which fell even though its results for the beginning of the year also topped expectations. The chip company said it’s seeing “elevated uncertainty across the industry” and gave a forecast for upcoming revenue and profit that fell short of analysts’ expectations.

Despite last week’s rally, as talk of Trump firing Federal Reserve Chair Jerome Powell receded and hints emerged of a selective softening of his stance on tariffs, not much has changed, Stephen Innes of SPI Asset Management said in a commentary.