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Hang Seng Index<\/p>\n
Singapore’s trade ministry upgrades 2025 GDP growth outlook to 1.5%-2.5%<\/p>\n
Singapore’s Ministry of Trade and Industry has revised its 2025 growth forecast for the city-state upwards to 1.5%-2.5% from 0%-2%.<\/a><\/p>\n The ministry announced its narrowed forecast Tuesday and said it “largely reflects the better-than-expected performance of the Singapore economy in the first half of 2025.”<\/p>\n Singapore’s economy expanded by 4.4% on a year-on-year basis in the second quarter ended June, extending the 4.1% growth recorded in the preceding quarter, the ministry revealed.<\/p>\n \u2014 Amala Balakrishner<\/p>\n Chinese and Hong Kong stocks open flat<\/p>\n Chinese and Hong Kong stocks were little changed Tuesday, as investors assessed the latest developments in U.S.-China trade relations.<\/p>\n As of 9:45 a.m. local time (9:45 p.m. ET Monday), the Hang Seng Index<\/a>\u00a0moved down 0.1%, while mainland’s\u00a0CSI 300<\/a>\u00a0was flat.<\/p>\n \u2014 Amala Balakrishner<\/p>\n SoftBank Group shares surge 8%<\/p>\n Shares of\u00a0SoftBank Group<\/a>\u00a0surged as much as 8.01% Tuesday, extending its gains for the fifth consecutive session.<\/p>\n The Japanese investment firm was also among the best performing stocks on the blue-chip Nikkei 225<\/a> benchmark which hit a fresh high earlier in the session.<\/p>\n Stock Chart IconStock chart icon SoftBank Group<\/p>\n The gains come as the Japanese firm has selected investment banks to support a potential listing of its portfolio company<\/a> \u2014Japanese payments app operator PayPay \u2014 in the U.S., Reuters reported Monday citing two people familiar with the matter.<\/p>\n \u2014 Amala Balakrishner<\/p>\n Australian stocks extend gains to fresh record high<\/p>\n Australian stocks extended their gains for a second day, reaching a new record high.<\/p>\n The 200-stock benchmark S&P\/ASX 200<\/a> rose 0.14% to 8,856.80 as of 10.48 a.m. Australian Eastern Standard Time (8:48 p.m. ET Monday), after hitting a fresh high of 8,828.67 earlier in the session.<\/p>\n Stock Chart IconStock chart icon S&P\/ASX<\/p>\n The benchmark’s strong moves come as trade negotiations between the U.S. and China show signs of progress.<\/p>\n China is the top export destination<\/a> for Australian goods, and investors are hoping that improving trade relations between the world’s two largest economies would spur economic activity down under.<\/p>\n \u2014 Amala Balakrishner<\/p>\n Japan’s Nikkei 225 hits record high<\/p>\n Japan’s blue-chip\u00a0Nikkei\u00a0225<\/a> index hit an all-time high of 42,629.17 on Tuesday, led by energy, technology, financials and utilities sectors.<\/p>\n Stock Chart IconStock chart icon Nikkei 225<\/p>\n Asia-Pacific markets open higher<\/p>\n Asia-Pacific markets opened higher Tuesday.<\/p>\n Japan’s Nikkei 225<\/a> benchmark rose 1.26%, while the broader Topix index added 0.74%, as of 8:07 a.m. Singapore time (8:07 p.m. ET Monday).<\/p>\n In South Korea, the\u00a0Kospi<\/a>\u00a0index added 0.66%, while the small-cap Kosdaq increased by 0.4%.<\/p>\n Over in Australia, the\u00a0S&P\/ASX 200<\/a> benchmark was flat.<\/p>\n \u2014 Amala Balakrishner<\/p>\n U.S. futures mostly move up in early Asia hoursHere are the opening calls for the day <\/p>\n Good morning from Singapore.<\/p>\n The U.S.-China trade truce extension overnight has allowed the world’s largest economies more room to negotiate a deal. <\/p>\n Investors, meanwhile, await the Australian central bank’s rate decision. The Reserve Bank of Australia is expected to slash cash rates to 3.6% from 3.85% at the close of its two-day policy meeting later in the day.<\/p>\n Australia’s\u00a0S&P\/ASX 200<\/a>\u00a0was set to start the day lower with futures tied to the benchmark at 8,783, compared with the index’s Monday close of 8,844.80.<\/p>\n Japan Nikkei 225<\/a>\u00a0was set to open higher, with the futures contract in Chicago at 42,295 while its counterpart in Osaka last traded at 42,270, against the index’s last close of 41,820.48.<\/p>\n Futures for Hong Kong’s\u00a0Hang Seng index<\/a>\u00a0stood at 24,765, pointing to a weaker open compared with the HSI’s last close of 24,906.81.<\/p>\n \u2014 Amala Balakrishner<\/p>\n A September rate cut from the Fed would be a risky move, BofA says<\/p>\n Bank of America thinks the Federal Reserve may want to hold off on cutting interest rates at the end of its next FOMC meeting in the wake of the latest jobs report<\/a>.<\/p>\n “We think those FOMC members that argue for cuts don’t put enough weight on the labor supply shock or the fact that inflation is stuck above target, with risks of a larger and more persistent shock after the latest tariff hikes,” economist Claudio Irigoyen wrote on Monday. “Cutting in September may risk starting the easing cycle without evidence that inflation has peaked.”<\/p>\n He also said that he still doesn’t expect the Federal Reserve to cut interest rates this year.<\/p>\n “The downward revision to nonfarm payrolls increases the probability of what we view as the most likely alternate scenario: ‘bad cuts,’ due to deterioration in the labor market,” Irigoyen wrote. “We view the combination of policies to be mildly stagflationary, with significant uncertainty regarding the size and timing of the impact on inflation and growth.”<\/p>\n \u2014 Sean Conlon<\/p>\n Stocks fall across the board<\/p>\n Stocks fell across the board to end Monday’s session.<\/p>\n The Dow Jones Industrial Average<\/a> lost 200.52 points, or 0.45%, and closed at 43,975.09. The S&P 500<\/a> slipped 0.25% to end at 6,373.45, while the Nasdaq Composite<\/a> shed 0.3% to settle at 21,385.40.<\/p>\n \u2014 Lisa Kailai Han<\/p>\n","protected":false},"excerpt":{"rendered":"Trump’s China tariff truce extension offers scope for ‘relief jump’ in HK stocks: Mizuho U.S. President Donald Trump’s…\n","protected":false},"author":2,"featured_media":61676,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[9075,9073,64,63,9064,9071,1053,99,174,1062,9066,5056,9067,9062,9068,171,1061,9070,5063,9074,1063,9069,4933,9061,48037,9065,9072,9063],"class_list":["post-61675","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-arm-holdings-plc","tag-asia-economy","tag-au","tag-australia","tag-australian-dollar-us-dollar-fx-spot-rate","tag-breaking-news-asia","tag-breaking-news-markets","tag-business","tag-business-news","tag-dow-jones-industrial-average","tag-dxy-us-dollar-currency-index","tag-economic-events","tag-hang-seng-index","tag-ice-brent-crude-apr23","tag-kospi-index","tag-markets","tag-nasdaq-composite","tag-nikkei-225-index","tag-nvidia-corp","tag-prices","tag-sp-500-index","tag-sp-asx-200","tag-shanghai","tag-shenzhen-component-index","tag-softbank-group-corp","tag-usd-jpy","tag-world-markets","tag-wti-crude-mar23"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/61675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=61675"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/61675\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/61676"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=61675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=61675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=61675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/p>\n<\/p>\n<\/p>\n