Australia

The global markets were hammered on Wednesday, as President Donald Trump's 104% tariffs against China went into effect. A savage sale of U.S. Bonds sparked concerns that foreign funds are fleeing U.S. Assets. The markets have been roiled by a crisis of unprecedented volatility this week, with stocks losing trillions in value and commodities and emerging market markets being hit hard. The dollar and U.S. Treasuries, the two mainstays of the global financial systems, were at the epicenter of Wednesday's rout. Many fear that Trump's tariffs are so severe they will trigger a recession, forcing the Federal Reserve to cut...

The major stock indexes declined on Tuesday after the United States announced that 104% tariffs on imports from China would take effect shortly after midnight. However, the euro and European equity futures rose following reports that Germany's parties had reached an agreement on a coalition. However, two people who knew the situation said that the German coalition was still not agreed upon. Investors were optimistic earlier in the morning that Washington would be willing to negotiate some of its aggressive trade tariffs. The Trump administration is also It is important to begin discussions with other trading partners that are being...

The stock market limped into the weekend on Friday. The dollar was headed for its worst month-end in a while, and gold flirted near a record high as investors worried that U.S. president Donald Trump's tariffs could tip the global economic system into recession. Asian shares have struggled to recover the heavy losses of Thursday's session. The Nikkei 225 index in Japan fell by 1.85%. This is a continuation of its 2.8% decline from last Thursday. MSCI's broadest Asia-Pacific index outside Japan fell 0.26% on thin trading, as markets in China Hong Kong and Taiwan were closed for the holiday....

Stocks plunged, bonds surged and the dollar rose on Thursday, as U.S. president Donald Trump announced an even larger-than-expected wall around the largest economy in the world, disrupting trade and supply chain. Nasdaq Futures fell 4%. Tech was on the frontline because China, which has been hit with an additional 34% tariff on top of its previous 20%, is a major manufacturing hub. Apple shares fell nearly 7% after-hours. S&P futures declined 3.3%, while Nikkei Futures fell more than 4%. Australian shares fell 2%. The U.S. Dollar was higher on a rollercoaster of currency trading, except for the safe-haven Japanese...

The global stock market rose on Tuesday, following Wall Street’s overnight gains. Gold reached a record high and Treasury yields dropped as markets waited for details about U.S. president Donald Trump’s reciprocal tariffs. The Japanese yen and Swiss franc held steady as demand for traditional safe-haven assets increased. The risk-sensitive Australian Dollar also rebounded, after the Reserve Bank of Australia kept interest rates unchanged, as expected, while warning of a "pronounced" uncertainty in the global economy. Investors anxiously await April 2, the day Trump has called "Liberation Day", where he promises to reveal a massive tariff plan. The Office of...

Asian stocks dropped on Friday, with South Korea and Japan seeing heavy selling. Meanwhile, gold reached a new record high after the latest tariff salvo by U.S. president Donald Trump raised investor fears of a full-blown trade war. Trump has moved forward with a 25% auto import tariff that will kick in next Monday. This move has drawn fierce criticism from politicians, industry executives and car manufacturers around the world. Trump's escalation of the global war on trade that he started upon regaining power has shocked the markets. Shares of automakers around the world have been hit especially hard. In...

The U.S. Dollar remained a bit erratic as markets awaited clarification on President Donald Trump’s trade policy in advance of the next round of tariffs. The White House gave traders some hope that they could get some flexibility after Trump announced on Monday that some levies wouldn't be collected by the deadline of April 2, and certain countries would receive breaks. He did not provide any further details. Trump also opened a second front in his trade conflict by directing 25% secondary tariffs to any country buying oil or gas from Venezuela. This initially drove oil prices up, but was...

The financial markets started the week with a mixed bag. U.S. stocks futures rose, but the dollar weakened ahead of the coming week. This was due to data, Chinese earnings as well as the threat of steep U.S. Tariff hikes. S&P 500 Futures rose about 0.6% and Nasdaq100 futures increased 0.8% in the morning Asian session. Japan's Nikkei climbed 0.2% and Hong Kong's Hang Seng rose about 0.2% Early trade saw the euro rise 0.2% to $1.0835, after a slight drop last week. The Turkish lira is on the edge of a cliff in emerging markets as investors are uneasy...

Asia shares rose Friday, and global markets tried to rebound after a brutal sale earlier in the week. Gold reached a new record as investors became nervous due to the latest escalation in global trade tensions. After Senator Chuck Schumer announced that he would vote for a Republican funding bill to avoid a government shutdown, he signaled his party's support. U.S. Stock Futures were a strong response. Nasdaq futures gained more than 1% in one instance and S&P futures advanced by 0.6%. FTSE Futures also gained 0.3%. DAX futures rose 0.6%. Alvin Tan is the head of Asia FX Strategy...

Investors were less concerned about the impact of U.S. trade policies on global markets as a result of data showing a lower inflation rate in the U.S. The oil prices are aiming for their second consecutive day of gains following data on stockpile increases, while the euro has retreated slightly from its five-month high set the day before on the hopes that a ceasefire would be reached between Ukraine and Russia. The U.S. Department of Labor released data on Wednesday showing that the Consumer Price Index (CPI), which measures prices in the United States, rose 2.8% annually in February. This...

The euro reached a five-month-high on Wednesday, as Ukraine was ready to accept a ceasefire lasting a full month. Meanwhile, stocks were swayed by the back and forth of U.S. tariffs plans and concerns about an economic slowdown in the U.S. European equity futures jumped by 0.8%, and FTSE Futures climbed 0.3%. This was after the U.S. announced it would resume military aid to Ukraine and share intelligence with Ukraine following Kyiv's acceptance of a U.S. proposed ceasefire. Russia has not yet responded. In New York, the euro reached its highest level since October at $1.0947. It remained steady at...

Meg O'Neill, the CEO of Woodside LNG Australia, said on Monday that the company may delay a final decision on the Louisiana plant's liquefied gas project until the second quarter 2025 if talks to sell the half of the project continue. Woodside is looking to sell up to 50% of the project. The company has been reported to be in discussions with several buyers, including Tokyo Gas and Japan's JERA. O'Neill stated in an interview conducted on the sidelines an energy conference held in Houston, "We want confidence in our partners and a sell-down that is adequate." The goal is...

Australian shares fell nearly 2% Wednesday, losing market value of $34.5 billion as a result of the escalating trade tensions, particularly between China and the United States. After a 2.3% increase on Tuesday, the S&P/ASX 200 ended 1.8% lower. The index is down by nearly 15% since its all-time peak in mid-February. After President Donald Trump's tariffs kicked in, other top Asian stock indices fell as well. Fears of foreign funds fleeing U.S. investments were sparked by a savage sale in Treasuries. George Kurian is a portfolio manager with Oracle Investment Management. He said that investors' primary concern is the...

Peabody Energy announced on Tuesday that it is reviewing all options in relation to its $3.78 Billion acquisition agreement with Anglo American, for some of the Australian steelmaking coal assets. This was after an ignition incident at a mine. The deal was signed in the last year, and it was expected to be completed by mid-2025. Media reports claim that production at Anglo American Moranbah North Mine, located in Queensland's Bowen Basin, Australia, was suspended last week after an underground fire broke-out at the mine. Peabody stated that it is in constant communication with Anglo American, to better understand its...

Three sources familiar with the matter have confirmed that Saudi Arabia's Ma'aden, the country's largest mining company, is looking at forming a rare-earths processing partnership. The kingdom wants to be a global hub for critical minerals. Sources said Ma'aden was considering a partnership with MP Materials in the United States, China's Shenghe Resources or Australia's Lynas rare earths, as well as Canada's Neo Performance Materials. According to sources who weren't authorized to speak publicly about the discussions, Ma'aden intends to select at least one partner before the end of the month to assist in developing plans for a rare-earths processing...

Australian listed miners of heavy-rare earths rallied Monday, despite major selloffs on other markets. They were betting that Western governments would redouble their efforts to create a separate supply after China, the top producer, imposed export controls. Shares in Lynas, the top rare earths producer in the world outside China, rose 5%, as did Meteoric Resources which has a Brazil project. Meanwhile, shares in Australia's heavy rare earths developer Northern Minerals soared by 9.5%. China placed export restrictions for rare earth elements as part of a sweeping response to U.S. president Donald Trump's new tariffs. This has resulted in a...

Australian listed miners of heavy-rare earths rallied Monday, despite major selloffs on other markets. They were betting that Western governments would redouble their efforts to create a separate supply after China, the top producer, imposed export controls. Shares in Australia's heavy rare earths developer Northern Minerals, which has a project in Brazil and is based in Australia, surged by 9.5%. China placed export restrictions for rare earth elements as part of its response to U.S. president Donald Trump's tariffs on Friday, which squeezed supply of minerals to the West used to manufacture weapons, electronic devices and a variety of consumer...

China announced an additional 34% tariff on U.S. products on Friday. This is the most significant escalation of a trade conflict with President Donald Trump, which has fueled fears of a worldwide recession and caused a stock market crash. Beijing announced that it had added several U.S. companies to an export control listing and classified others as "unreliable". From Canada to China, nations have prepared retaliation as a trade war escalates after Trump raised U.S. Tariff Barriers to their highest levels in over a century. This led to a drop in the world financial markets. Shigeru Shiba, the Prime Minister...

A mining union in Australia said that it had secured important financial benefits for its employees working in the iron rich Pilbara region, including compensation for flight delays and bonuses. The Mining and Energy Union said that Rio Tinto will compensate "Fly-In-Fly-Out" workers who are heading home for delays of more than four hours with A$500 (313.55) and A$1,000 (for delays over 12 hours). The amendment was made after more than 400 Rio Tinto workers from the Paraburdoo Iron Ore Project signed a petition of the Western Mine Workers Alliance to begin bargaining for a new collective agreement. This is...

Donald Trump announced on Wednesday that he will impose a baseline 10% tariff on all imports into the United States, and higher duties for some of the biggest trading partners. This could lead to a trade conflict and upset the global economy. Countermeasures from trading partners could result in a dramatic increase in prices of everything, including bicycles and wine. Trump has already levied 25% on automobiles and auto parts. The latest responses from business executives, unions and trade associations. Companies STELLANTIS The automaker announced that it would temporarily stop production in some of its Canadian assembly plants and Mexican...

Donald Trump announced on Wednesday that he will impose a baseline 10% tariff on all imports into the United States, and increased duties on some of its biggest trading partners. This could lead to a trade conflict and upset the global economy. Countermeasures from trading partners could result in a dramatic increase in prices of everything, including bicycles and wine. Trump has already levied 25% on automobiles and auto parts. Here are some reactions from business executives, trade and union associations: Companies KATSUYA NAKANISHI is the CEO of MITSUBISHICORP The CEO of a Japanese trading company said that the firm...

Three sources familiar with the matter said that BHP, the world's largest listed miner, considered splitting off its Australian coal and iron ore divisions as part a medium-term strategy for growth. BHP Group considered separating the divisions as part of its plan to focus on commodities such as potash and cobalt, which are expected to grow in the future. Two sources confirmed that the company had considered a listing for Australia before management decided against it. They said that the consideration was in progress as BHP was preparing to bid on Anglo American for 2023 and 2024 and was pushing...

Mexico and Canada were spared new tariffs Wednesday, as President Donald Trump excluded the top US trading partners from his 10% global tariff baseline. Previous duties are still in place. Tariffs will not be applied to most goods from Mexico and Canada which comply with the USMCA agreement between the three nations, except for steel and aluminium and auto exports. Trump imposed tariffs of 25% on Mexico and Canada because they did not do enough to stop migration and the trafficking of fentanyl. However, he later announced a concession for USMCA-compliant goods. The White House fact sheet stated that "for...

U.S. president Donald Trump escalated the trade war by announcing on Wednesday that he would impose reciprocal duties to match duties placed on U.S. products by other countries. Trump told an audience in the White House Rose Garden that "it's our declaration" of independence. "We will set a minimum base tariff of 10%." The rates for China will be 34% while those for the European Union, Japan and Canada would be 20% and 24% respectively. S&P futures fell 3%, indicating that investors are expecting deep losses on Wall Street when it opens Thursday. S&P 500 Futures fell 3%. This suggests...