Markets

Insights on global financial markets, including stocks, currencies, and more.

Markets
APAC markets mixed as tariffs swing back into focus
Asia-Pacific markets traded mostly higher on Tuesday, after United States President Donald Trump unveiled steep tariffs on 14 nations, including key regional exporters Japan and South Korea. In a series of letters posted on Truth Social, Trump outlined new import duties that are set to take effect from 1 August. Exports to the U.S. from Japan, South Korea, Malaysia, Kazakhstan, and Tunisia will face 25% tariffs. Imports from Laos and Myanmar will be subject to an even steeper 40% duty. Other countries in the region are also set to be affected. Indonesia faces a 32% excise duty, Bangladesh 35%, while Cambodia and Thailand will be hit with 36% tariff rates, according to the posted letters. By 11:15 am AEST (1:15 am GMT), Australia’s S&P/ASX 200 was flat at 8,591.8, recovering from earlier losses. Japan’s Nikkei 225 rose 0.4%, and South Korea’s Kospi 200 gained a more robust 1.5%. Among the data released, National Australia Bank's Monthly Business Survey showed business confidence rose 3 points to +5 in June, beating expectations, while business conditions jumped 8 points to 9, boosted by strong gains in trading conditions and profitability. In the United States overnight, the major averages retreated as investors d
Markets
US futures extend declines as trade action heats up
United States stock futures moved lower in overnight trade on Monday (Tuesday AEST) after President Donald Trump revealed new levies on imports from 14 countries while extending the implementation deadline to 1 August. By 9:15 am AEST (11:15 pm GMT), futures tied to the Dow Jones Industrial Average were down 0.3%, while S&P 500 and Nasdaq 100 futures each declined by 0.2%. The drop in futures followed a turbulent session on Wall Street, where major indices closed lower amid heightened trade tensions. The Dow and the Nasdaq Composite slid 0.9% apiece, while the S&P 500 fell 0.8%, as investors reacted to a rapid sequence of trade-related announcements from the White House. Late Monday afternoon, Trump shared additional signed letters on Truth Social, increasing the total number of countries subject to the new tariff regime to 14. The action targets nations accused of unfair trade practices and will see elevated tariffs on their exports to the U.S. starting in August. The president also signed an executive order officially postponing the tariff start date to 1 August, pushing it back from the originally anticipated deadline of Wednesday. Trump further warned of an additional 10% tariff on countries that align the
Markets
Down day expected as investors await RBA ruling
Australian shares look set to head in the likely direction of official interest rates on a day where eyes are fixed on the Reserve Bank of Australia (RBA). Lower United States stock prices have set the scene for a fall in the Australian Securities Exchange's (ASX) main price indicator with an 0.5% drop flagged by ASX futures trading ahead of the market opening at 10 am AEST (12 pm Monday). The S&P/ASX 200 share price index (SPI) September contract was trading 47 points below the previous settlement at 8,526 points, at the time of writing. As a 25-basis point cut in the cash rate to 3.60% is widely expected to be announced by the RBA at 2:30pm AEST today, there may be more interest in the commentary that accompanies the monetary policy decision. U.S. President Donald Trump rattled financial markets by announcing large tariffs against trading partners including Japan and South Korea on Monday (Tuesday AEST), sending U.S. stock indices down sharply. The Dow Jones Industrial Average and the Nasdaq Composite each dropped 0.9% while the S&P 500 slipped by 0.8%. “Markets had been telling us that peak tariff risk is behind us, but to have tariffs back in the forefront is causing some skittishness," Manulife John Hancock
Markets
America's bid for funding from stablecoins is GENIUS
Washington last month may have handed Wall Street a loaded gun with the Senate's 68-30 passage of the GENIUS Act on 17 June, weaponising stablecoins rather than simply regulating them. There's also the related House STABLE Act that passed the committee 32-17 on 2 April that awaits full House consideration. Stablecoins are digital tokens designed to hold steady value and are used by crypto traders as a tool to hedge against volatility. And if the sentiment rings true, it represents America's calculated bid to lock down dollar dominance for decades, using blockchain rails to export US debt globally as competitors scramble for strategic positioning. The real game centres on control rather than compliance, despite official narratives suggesting consumer protection motivations. "It establishes, for the first time, a regulatory regime for stablecoins, a rapidly developing financial product and industry," Mayer Brown's Andrew Olmem said. The STABLE and GENIUS Acts don't merely regulate stablecoins - they create a government-sanctioned oligopoly with three privileged issuer classes capturing trillion-dollar payment flows.Bank subsidiaries OCC-approved entities State-chartered operators …are set to become the sole ‘perm
Markets
US stocks finish lower as tariff letters hit sentiment
United States equities declined on Monday (Tuesday AEST) after President Donald Trump released letters outlining new tariff rates on imported goods, and warned of further trade penalties in the coming days. The Dow Jones Industrial Average dropped 422.2 points, or 0.9%, to finish at 44,406.4. The S&P 500 retreated 49.4 points, or 0.8%, to close at 6,230.0, while the tech-heavy Nasdaq Composite slipped 188.6 points, or 0.9%, to end the session at 20,412.5. The declines followed a series of posts by President Trump on Truth Social, where he shared screenshots of signed letters addressed to leaders of multiple countries announcing new tariffs on their exports to the United States. Among the targeted nations were South Korea, Japan, Malaysia, Kazakhstan, South Africa, Thailand, Laos, Indonesia and Myanmar. According to White House press secretary Karoline Leavitt, a total of 14 letters would be sent on Monday, with more to follow in the coming days. She also confirmed that President Trump would sign an executive order to delay the new tariff enforcement date until August 1. The markets were further rattled by the prospect of additional trade barriers. Trump warned of a possible 10% tariff hike on any country “aligned

Markets
ASX 200 eases from records; Northern Star sheds 8.7%
Australian shares edged lower on Monday as investors remained cautious ahead of the Reserve Bank of Australia’s (RBA) policy meeting on Tuesday, where a 25-basis point interest rate cut is widely expected. Lingering uncertainty surrounding United States President Donald Trump’s ongoing tariff negotiations also weighed on sentiment. The benchmark S&P/ASX 200 index closed 13.7 points or 0.2% lower at 8,589.3, with six of the 11 sectors finishing in the red. The materials sector came under pressure, with major miners BHP, Rio Tinto declining 0.3% and 0.2%, respectively, while Fortescue ticked up 0.1%. Gold producer Northern Star Resources plunged 8.7% after releasing an operational update that showed output at the lower end of guidance. The company also flagged a ramp-up in capital expenditure to improve future production levels. South32 eased 0.6% after announcing it had agreed to sell its Cerro Matoso open-cut ferronickel mine in northern Colombia to a subsidiary of global industrial group CoreX. Mineral Resources closed 2% lower after announcing the appointment of Lawrie Tremaine and Ross Carroll as independent non-executive directors. Consumer discretionary stocks were broadly weaker, with JB Hi-Fi down 0.3%,
Markets
Gold starts lower as tariff jitters lift US dollar
Gold prices opened the week lower, weighed down by renewed demand for the United States dollar as investors braced for the economic impact of President Donald Trump’s incoming tariff announcements. By 3:40 pm AEST (5:40 am GMT), spot gold fell by $24.64, or 0.7%, to US$3,312.25 per ounce, pulling back from last week’s peak of $3,336.6. The retreat follows a 1.9% weekly gain but reflects fresh caution in global markets as trade tensions rise. Markets remain on edge as Trump’s trade deal negotiations continue. During Monday's U.S. session, letters are expected to be sent to 12 countries that have yet to finalise trade agreements with the United States. These letters will outline country-specific tariff rates set to take effect on 1 August. Trump warned the new rates could reach as high as 70%, up from the 10% base tariff rate introduced in April. Adding to the anxiety, Trump also stated that an additional 10% tariff would apply to countries "aligning themselves with the anti-American policies of BRICS". Gold, a non-yielding asset, also came under pressure from stronger-than-expected U.S. jobs data last week, which dampened expectations for near-term interest rate cuts by the Federal Reserve. June’s nonfarm payro
Markets
Markets: Oil trades down as OPEC+ raises output
Oil prices retreated during Asian trade on Monday after the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) announced a sharper-than-anticipated production increase for August, unsettling markets already anxious over the impact of new United States tariff plans on global economic growth. By 3:00 pm AEST (5:00 am GMT), Brent crude futures dropped $0.36, or 0.5%, to US$67.94 per barrel, while U.S. West Texas Intermediate (WTI) crude declined $0.31, or 0.5%, to $66.19 per barrel. The Organisation of the Petroleum Exporting Countries and its allies, known as OPEC+, revealed on Saturday that it would boost output by 548,000 barrels per day (bpd) in August. This represents a notable step up from the 411,000 bpd monthly increases approved for May, June, and July, and a significant jump from the 138,000 bpd added in April. In a client note, ANZ analysts said: "The group also warned that it will consider another 548kb/d hike in September at the next meeting on 3 August. This would complete the revival of the 2.2mb/d voluntary cuts, some 12 months ahead of the original schedule. "The group said the decision was based on a steady global economic outlook and current healthy market fundamentals, as refle
Markets
APAC markets mixed as tariff deadline extended
Asia-Pacific markets traded mixed at Monday’s open, as investors assessed renewed tariff guidance from the United States following President Donald Trump’s confirmation that duties announced in April will come into effect on 1 August. Treasury Secretary Scott Bessent said on Sunday that tariffs will be imposed on countries that have yet to finalise trade deals with the U.S. While dismissing suggestions that 1 August represents a new deadline, Bessent acknowledged the revised schedule could give trading partners more time to renegotiate. By 11:15 am AEST (1:15 am GMT), Australia’s S&P/ASX 200 rose 0.1%, trading above its previous record close of 8,603. Japan’s Nikkei 225 fell 0.6%, while South Korea’s Kospi 200 traded flat. On Wall Street last Thursday, the Dow Jones Industrial Average climbed 0.8%. The S&P 500 and Nasdaq Composite also reached fresh record highs, gaining 0.8% and 1% respectively, buoyed by stronger-than-expected jobs data. U.S. markets were closed on Friday in observance of the Independence Day public holiday. In commodities, Brent crude declined 0.7% to settle at US$68.30 per barrel. Spot gold edged higher by 0.3% to US$3,336.62 per ounce, supported by safe-haven demand. Chinese equities w