Trump to go to Federal Reserve, escalating marketing campaign towards Chair Powell
U.S. President Donald Trump will go to the Federal Reserve on Thursday, the White Home stated, escalating his stress marketing campaign towards Chairman Jerome Powell.
That is the primary time in practically twenty years that an American president has made an official journey to the central financial institution.
The White Home launched a schedule on Wednesday that acknowledged Trump would go to the Federal Reserve at 4:00 p.m. ET on Thursday.
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— Anniek Bao
China markets open flat
Mainland China and Hong Kong shares opened flat amid a swathe of inexperienced within the area.
Each mainland China’s CSI 300 and Hong Kong’s Dangle Seng Index had been flat.
The Dangle Seng Tech Index, which tracks the most important know-how firms listed in Hong Kong, fell 0.18%.
Chinese language yuan appreciates to strongest degree towards buck since November 2024
The Chinese language offshore yuan appreciated to 7.1444 towards the greenback, marking the strongest degree since November 2024, knowledge from LSEG confirmed.
Equally, the Thai baht appreciated to 32.07 per U.S. greenback, marking the strongest towards the buck since February 2022.
— Lee Ying Shan
Japan’s Topix hits document excessive as Asia-Pacific buying and selling begins
Japan’s broad-based Topix rose 1.2% to hit a document excessive in early Asia buying and selling hours, knowledge from LSEG confirmed.
The benchmark Nikkei 225 rose 1.09%, extending positive factors from Wednesday following the announcement of Japan’s commerce cope with the U.S.
South Korea’s Kospi rose 1.17% on the open, and the Kosdaq Index inched 0.64% increased.
Australia’s S&P/ASX 200 rose 0.15%.
— Lee Ying Shan
Nvidia provider SK Hynix second-quarter revenue and income hit document highs, topping estimates
South Korea’s SK Hynix shares jumped 2.6% after it posted document working revenue and income within the second quarter on sustained demand for its excessive bandwidth reminiscence know-how utilized in generative AI chipsets.
Listed below are SK Hynix’s second-quarter outcomes in contrast with LSEG SmartEstimates, that are weighted towards forecasts from analysts who’re extra persistently correct:
- Income: 22.23 trillion received ($16.17 billion) vs. 20.56 trillion received
- Working revenue: 9.21 trillion received vs. 9 trillion received
Income rose about 35% within the June quarter in contrast with the identical interval a 12 months earlier, whereas working revenue rose practically 69% 12 months on 12 months.
On a quarter-on-quarter foundation, income rose 26%, whereas working revenue jumped 24%.
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—Dylan Butts
South Korea avoids technical recession as GDP expands 0.6% in second quarter
South Korea prevented a technical recession as its financial system expanded by 0.6% from the earlier quarter, beating expectations, in accordance with advance estimates.
This was increased than the 0.5% anticipated by economists polled by Reuters, and a reversal from the 0.2% contraction seen within the first quarter.
On a year-over-year foundation, the nation’s GDP rose 0.5%, up from 0% within the first quarter and better than a 0.4% growth anticipated by the Reuters ballot.
Complete consumption, which incorporates non-public and authorities expenditure, elevated 0.7% from the earlier quarter, a stronger exhibiting in comparison with the 0.1% contraction seen within the first three months of the 12 months.
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— Lim Hui Jie
Asia-Pacific markets set to start out the day largely increased
Good morning from Singapore! Asia markets had been poised for a largely increased open.
Japan’s benchmark Nikkei 225 was set to start out the buying and selling day increased, with the futures contract in Chicago at 41,745 and its counterpart in Osaka at 41,730, towards the index’s final shut at 41,171.32.
Futures for Hong Kong’s Dangle Seng index stood at 25,540, pointing to a slightly stronger open in contrast with the HSI’s final shut of 25,538.07.
Conversely, Australia’s S&P/ASX 200 was on observe to start out the day decrease with futures tied to the benchmark at 8,721, in contrast with its final shut of 8,737.2.
— Lee Ying Shan
Shares end Wednesday’s session within the inexperienced
Shares ended the session increased on Wednesday, with the S&P 500 ending with its third consecutive document closing excessive this week.
The broad market index gained 0.78% to shut at 6,358.91.
Moreover, the blue-chip Dow Jones Industrial Common moved 507.85 factors increased, or 1.14%, to finish the session at 45,010.29. The tech-heavy Nasdaq Composite additionally jumped 0.61% to complete at 21,020.02, its first shut above the 21,000 degree.
— Sean Conlon
U.S.-Japan commerce deal might harm Japan’s financial system, UBS says
U.S. Secretary of the Treasury Scott Bessent gestures as Japan’s Financial Revitalization Minister Ryosei Akazawa seems on the day they go to U.S. pavilion at Expo 2025 in Osaka, Japan, July 19, 2025.
Kim Kyung-hoon | Reuters
Though the commerce deal between the U.S. and Japan turned out to be higher than the market anticipated, it’d nonetheless trigger some harm to Japan’s financial system, in accordance with UBS.
“The 15% tariff will nonetheless probably result in declines in exports and company earnings, and the ensuing stagnation in capital funding and consumption will probably proceed to exert downward stress on the Japanese financial system by about 0.4 share factors 12 months over 12 months, in our view,” analyst Chisa Kobayashi wrote on Wednesday.
Together with that, Kobayashi stated that she doesn’t anticipate the Financial institution of Japan to hike rates of interest this 12 months, including that she anticipates that the following fee hike will probably be “solely be after mid-2026.”
— Sean Conlon