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Asian stocks jumped on Monday on Beijing’s fresh stimulus measures aimed at boosting consumer spending, while regional currencies traded cautiously as investors weighed mounting trade frictions that threaten global economic growth. Seoul’s benchmark climbed 1.6% to their highest since February 27, while stocks in Kuala Lumpur gained 1.1% in its third consecutive winning session. Shares in Taipei added 0.7% after advancing as much as 1.5% earlier in the session. On Sunday, China unveiled sweeping measures to boost domestic consumption, including income hikes and childcare subsidies, just days after financial regulators...

India has “absolutely no interest” in undermining the US dollar, and its fellow members of the Brics grouping of emerging economies have not formed a unified position on a proposed alternative payment system, according to New Delhi’s foreign minister.Speaking at the London-based think tank Chatham House last week during a six-day visit to Britain and Ireland, Subrahmanyam Jaishankar described the dollar as a “source of international economic stability”.His comments followed repeated warnings from US President Donald Trump against any efforts by Brics – an acronym of founding nations Brazil, Russia,...

India has "absolutely no interest" in undermining the US dollar, and its fellow members of the Brics grouping of emerging economies have not formed a unified position on a proposed alternative payment system, according to New Delhi's foreign minister.Speaking at the London-based think tank Chatham House last week during a six-day visit to Britain and Ireland, Subrahmanyam Jaishankar described the dollar as a "source of international economic stability".His comments followed repeated warnings from US President Donald Trump against any efforts by Brics - an acronym of founding nations Brazil, Russia,...

For President Donald Trump, the Taiwan Semiconductor Manufacturing Co.’s $100 billion investment in U.S. chip manufacturing represented “a tremendous leap—like, a leap that nobody would have really said was possible.” But TSMC’s $100 billion is just a small part of the at least $3 trillion in investments and trade commitments the Trump administration has racked up in just six weeks since Inauguration Day. The $3 trillion of investment and trade commitments with the United States involve key allies, such as India and Japan, and major players in the private sector—Apple...

US President Donald Trump’s latest accusation of China’s trade advantage via yuan depreciation suggests his sights are set on reducing the US trade deficit, according to analysts who also noted that a priority of China’s central bank is stabilising the currency against the backdrop of a strong dollar and mounting tariff risks.They contended that Trump’s warning on Monday – that China and Japan “can’t continue to reduce” their currencies because it is “unfair” to the US – clashes with Beijing’s actual efforts to prevent a sharp yuan depreciation. Japan also...

US markets have eliminated all their post-election gains as stocks deepen their sell-off with fresh tariffs on Canada, Mexico, and China now officially in effect. The S&P 500 (^GSPC) has erased about $3.3 trillion in market cap since its record closing high of 6,144.15 on Feb. 19. At that time, the benchmark index's post-election gains had been hovering at just around 6%. Since the start of 2025, the S&P 500 is down around 2% while the Nasdaq Composite (^IXIC) is off nearly 6% and is currently flirting with correction territory,...

Alden Bentley, Harry Robertson and Ankur Banerjee  |  ReutersTrump doubles tariffs on China; China retaliates with tariffs on US goodsUnited States President Donald Trump doubled the tariff on Chinese imports, bringing that rate to 20%. China retaliated by announcing 15% tariffs on various imports from the US.Fox - SeattleThe dollar fell to a three-month low on Tuesday as concerns about slowing growth and the impact from tariffs on the U.S. economy outweighed any potential boost from new levies on Canada, China and Mexico.President Donald Trump's 25% tariffs on goods from Canada and Mexico took effect Tuesday, along with a doubling of duties on Chinese goods to 20%.In response, China said it will...

The Mexican peso slumped after U.S. President Donald Trump imposed new import tariffs against the country, though other developing-nation currencies held their own amid concerns about the impact of the escalating trade war on growth in the world’s largest economy. The peso fell as much as 1% against the dollar, extending its decline to a fourth day and hitting the weakest level in a month after the 25% duties came into effect, together with levies on Canada and China. Investors are awaiting Mexico’s response, with President Claudia Sheinbaum expected to...

US stock futures edged higher on Tuesday as China's careful response to President Donald Trump's tariff hike eased market nerves over the prospect of a deepening trade war. Dow Jones Industrial Average futures () rose roughly 0.2%, while S&P 500 futures () stepped up 0.3%. Contracts on the tech-heavy Nasdaq 100 () put on 0.4%. Rising fears of a full-on trade war drove a sell-off in stocks on Monday after the president said there was "no room left" for Canada or Mexico to strike a deal to mitigate promised tariffs....

Japan has denied an accusation by US President Donald Trump that it is manipulating the yen to benefit local manufacturers after the American leader suggested he is planning to impose retaliatory tariffs if his demands are not met.Speaking to reporters in the White House on Monday night, Trump singled out Japan and China for criticism.“Whether it is Japan or China, the weak currency against the dollar puts us at a great disadvantage,” Trump said. “It is hard for Caterpillar to make tractors when Japan and China are devaluing their currencies.“I...