Markets Respond to Trump's Tariff Announcement

Following US President Donald Trump's firm stance against extending the deadline for tariffs effective August 1, markets in the Asia-Pacific region showed mixed reactions. Trump's introduction of a 50% tariff on copper imports and warnings of potential 200% tariffs on pharmaceutical products entering the US have put the trade war back in the spotlight.

China's Economic Indicators Show Signs of Recovery

Data from China's National Bureau of Statistics revealed a 0.1% year-on-year increase in the consumer price index (CPI) for June, marking the end of a four-month deflationary streak. This development provides a glimmer of hope for the Chinese economy amidst global trade tensions.

Regional Market Performances

Japan's Nikkei 225 saw a modest increase of 0.31%, while the dollar gained 0.27% against the yen. South Korea's Kospi rose by 0.54%, contrasting with Australia's S&P/ASX 200, which fell by 0.34%. In China, the Shanghai and Shenzhen Composites grew by 0.38% and 0.36% respectively, whereas Hong Kong's Hang Seng decreased by 0.71%.