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LONDON (Reuters) -European investors are bracing for a pivotal second-quarter earnings season, which could offer the first meaningful insight into how companies are navigating a new era of trade volatility and, crucially, how resilient their share prices remain. Markets staged a textbook V-shaped recovery to hit record highs after April's tariff-driven selloff after U.S. President Donald Trump announced sweeping tariffs, which he then paused for 90 days, effectively covering the entire second quarter. Europe's STOXX 600 is hovering near record highs, yet earnings for its constituents are expected to contract 0.2% in Q2, LSEG I/B/E/S said, from 2.2% growth in the last quarter.
Asian shares mostly gained on Thursday after a rally in U.S. tech stocks lifted the Nasdaq to an all-time high and helped Wall Street claw back most of its losses from earlier in the week. South Korea's Kospi climbed 1.6% to 3,183.23 after the Bank of Korea kept its benchmark interest rate unchanged and as semiconductor shares rose following Nvidia's overnight rally on Wall Street. Tokyo's Nikkei 225 fell 0.4 % to 39,646.36, weighed down by selling of export-oriented auto and electronics shares amid the yen's appreciation, which cuts exporters' profits.
Asian shares mostly gained on Thursday after a rally in U.S. tech stocks lifted the Nasdaq to an all-time high and helped Wall Street claw back most of its losses from earlier in the week. South Korea's Kospi climbed 1.6% to 3,183.23 after the Bank of Korea kept its benchmark interest rate unchanged and as semiconductor shares rose following Nvidia's overnight rally on Wall Street. Tokyo's Nikkei 225 fell 0.4 % to 39,646.36, weighed down by selling of export-oriented auto and electronics shares amid the yen's appreciation, which cuts exporters' profits.
There have been growing signs that investors are becoming more indifferent to Donald Trump's tariff salvos, and nowhere has this been more evident than in the price action across stocks over the past few days. Asia shares on Thursday rode the high from Nvidia's brief rise to a $4 trillion valuation and futures pointed to similar gains in Europe later in the day, even as Trump dealt his latest blow to the global trade landscape. The U.S. President launched his tariff assault into overdrive on Wednesday as he announced a new 50% tariff on U.S. copper imports and a 50% duty on goods from Brazil, both to start on August 1.
RSI and OBV readings on lower timeframes suggest short-term exhaustion, but macro sentiment remains net bullish.
US President Donald Trump has said the US would begin levying a 50% tariff on copper imports from Aug. 1, confirming a move that will hurt American producers of everything from automobiles to appliances. Bloomberg's Jill Disis breaks down the impact Trump's new tariff moves may have on global trade.
SINGAPORE (Reuters) -Asian stocks rose slightly on Thursday, riding on optimism from Nvidia's brief rise to a world-record $4 trillion valuation and as investors largely shrugged off U.S. President Donald Trump's latest tariff salvos. U.S. copper futures widened their premium to the London benchmark overnight after Trump announced plans to impose a 50% tariff on copper. Trump also turned his trade ire against Brazil on Wednesday as he threatened a punitive 50% tariff on exports to the U.S. and issued tariff notices to seven minor trading partners.
TOKYO (Reuters) -Japan is unlikely to face pressure from the United States to intentionally strengthen the yen despite President Donald Trump's criticism of its large trade surplus with the U.S., former top currency diplomat Masatsugu Asakawa told Reuters. Trump's focus on addressing the U.S. trade deficit and his remarks about Japan maintaining a weak yen have fuelled speculation about potential pressure on Tokyo to adjust the yen's value against the dollar and give U.S. manufacturers a competitive advantage.
TOKYO (Reuters) -The U.S. dollar stabilised on Thursday after retreating from a two-week high versus major peers, as markets took President Donald Trump's latest tariff salvos in stride, except in Brazil where a threatened 50% levy sent the real sliding. The real dropped as much as 2.8% to 5.6047 per dollar for the first time since June 6 overnight, and was last changing hands at 5.5826 per dollar.