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  • Apr 13, 2025

Asian markets rally after Wall Street ends higher in the chaotic and historic week

Asian markets rallied on Monday as tensions over trade eased slightly after U.S. President Donald Trump said electronics such as phones and laptops would not be subject to the same high import duties as some other products. Hong Kong's Hang Seng jumped 2.4% to 21,419.59, while the Shanghai Composite index picked up 0.9% to 3,266.26 after the government reported that China's exports surged 12.4% in March from a year earlier. U.S. President Donald Trump said he was exempting smartphones, computers and other electronics from his tariffs after China announced Friday that it was boosting its tariffs on U.S. products to 125% in the latest tit-for-tat increase following Trump’s escalations on imports from China.

  • Apr 13, 2025

Asian tech stocks bounce back after Trump tariff exemptions

TAIPEI/SHANGHAI (Reuters) -Shares in Asian tech companies that are major suppliers to companies like Apple rose on Monday after the U.S. government granted temporary exclusions from steep tariffs on smartphones, computers and some other electronics imported largely from China. Shares in Foxconn, Apple's largest iPhone assembler, rose as much as 7.8% before trimming gains to close 3% higher. China's Goertek and Lens Tech both rose by more than 7% before also trimming gains.

  • Apr 13, 2025

Goldman Sachs expects oil prices to decline through 2026

The bank expects Brent and WTI oil prices to edge down, averaging $63 and $59 a barrel, respectively, for the remainder of 2025, and $58 and $55 in 2026. Given the weak growth outlook amid a global trade war, the bank expects that oil demand will rise by only 300,000 barrels per day (bpd) between the end of last year and the end of 2025. The bank has cut its global demand growth forecasts for the fourth quarter of 2026 by 900,000 barrels-per-day since mid-March due to an escalating trade war between the U.S. and China.

  • Apr 13, 2025

Oil steady as investors weigh tariff impact on global demand

Oil prices held steady on Monday as exemptions for some electronics goods from U.S. tariffs and data showing a sharp rebound in China's crude imports in March, were outweighed by concerns that the trade war could weaken global economic growth and dent fuel demand. Brent crude futures were flat at $64.76 at 11:19 a.m. ET (1519 GMT). "The OPEC cutting its global demand forecast just underscores the troubled outlook we have here from the tariffs and all the other uncertainty in the market," said John Kilduff, partner with Again Capital, referring to OPEC revising down its demand forecast in a report released on Monday.

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