24/04/2025 Daily Reports
Asian Stocks Plunge as Unclear Tariff Teases by Trump Rekindle Market Anxiety
- Asian stocks finished a five-day winning streak, with markets retreating as hope for a peaceful conclusion of the US-China trade war dissipated with unclear teases by the Trump administration. The regional stock benchmark fell 0.3%, with Hong Kong shares leading the decline by 1.2%, as US and European futures were also lower.
- Treasury Secretary Scott Bessent dampened expectations of quick rollback of tariffs, raising doubts about recent optimism following Trump’s earlier suggestions of possible concessions. Gold rose 1.2% as risk appetite dipped, and the dollar and yen ebbed and flowed.
- This came despite earlier gains fueled by Trump’s softer words on trade and the Fed. Investors remained skeptical with the administration’s inability to provide clear-cut messaging. Analysts issued warning signals against continued US asset adjustments and diversification into Indian, Chinese, and European markets.
- Concurrently, China issued new sovereign bonds as part of its stimulus program, and European car sales recovered on the back of EV demand. Oil prices also remained under pressure from OPEC+ supply worries and new trade tensions.
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Markets Struggle to Find Direction Amid Trade Tensions
- Tariff Worries Return
US stock futures edged lower as China responded defiantly to the latest tariff threats, stalling hopes for swift resolution in the US-China trade talks. Investors are once again navigating the rollercoaster of policy uncertainty.
- Safe Havens Shine
As the dollar slipped, demand surged for classic safe havens—gold, yen, and Swiss franc. Treasury yields also fell, reflecting the growing caution.
- Corporate Struggles
IBM shares dropped 7% in premarket after earnings missed expectations, while Procter & Gamble cut its outlook due to rising input costs and consumer volatility—blaming tariffs once again.
- Deutsche Bank Turns Bearish
DB slashed its year-end S&P 500 target by 12%, warning that US firms will bear the brunt of trade friction. Their new forecast still offers 14% upside—but only enough to recover recent losses.
- Mixed Macro Outlook
While Trump hinted at “fairer” deals with China, officials emphasized that progress could take years. The geopolitical tone may be softening—but the market remains wary.
- What’s Next?
The market isn’t reacting to fundamentals—it’s reacting to headlines. Volatility is no longer an anomaly, it’s the new standard. Stay nimble, manage risk, and don’t get too comfortable in one direction.
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