This content was published on <\/p>\n
July 24, 2025 – 03:17\n<\/p>\n
(Bloomberg) \u2014 Asian equities posted their longest winning streak since January as signs the US may pursue further trade deals following its pact with Japan injected fresh momentum into stock markets.<\/p>\n
The MSCI Asia-Pacific index rose 0.9%, a sixth consecutive day of gains, as benchmarks in Japan jumped more than 1.5%. The S&P 500 ended 0.8% higher to set a third straight daily closing record. Treasuries edged lower for a second day with the yield on the 10-year rising almost 1 basis point to 4.38%. Gold steadied after dropping more than 1% in the previous session amid weak demand for haven assets.<\/p>\n
The gains in the stock market followed reports the US was closing in on an agreement with the European Union that would set a 15% tariff for most products after the accord with Japan. Progress on trade deals offered validation for investors betting Washington would adopt a pragmatic approach to trade policy before tariffs would meaningfully impact corporate profits. \u00a0<\/p>\n
\u201cMomentum is building with trade deals a week ahead of the Aug. 1 deadline,\u201d said Mark Hackett at Nationwide. \u201cThe adage \u2018don\u2019t short a dull tape\u2019 seems apropos, given the steady move higher for equities with low volatility.\u201d<\/p>\n
\u00a0<\/p>\n
Over the past two months, Trump has struck key trade agreements, including a pact with Japan and progress toward resolving disputes with China, signaling a de-escalation in global trade tensions. These moves have reassured investors, easing fears of a prolonged trade war and fueling gains across global markets.<\/p>\n
The market\u2019s so-called fear gauge \u2014 the VIX \u2014 collapsed to 15 after topping 52 at the height of April\u2019s tariff-fueled turmoil.<\/p>\n
Trump also suggested that he wouldn\u2019t go below 15% as he sets so-called \u201creciprocal\u201d tariff rates ahead of an Aug. 1 deadline.\u00a0<\/p>\n
\u201cA deal with the EU within the next week would almost entirely defuse the impact of the Aug. 1 tariff expiry deadline,\u201d said Tony Sycamore, a market analyst at IG Australia.<\/p>\n
Also, US Treasury Secretary Scott Bessent is scheduled to meet with Chinese officials in Stockholm next week for discussion aimed at extending a tariff truce.<\/p>\n
In corporate earnings, Alphabet Inc. shares climbed in after-hours trading on better-than-expected revenue while Tesla Inc. slumped 4.4% as Elon Musk warned of a \u2018few rough quarters\u2019 ahead after sales fell the most in a decade. SK Hynix shares rose as much as 3.7% after operating profit beat estimates.<\/p>\n
Elsewhere, Trump said he considered attempting to break up Nvidia Corp. to increase competition in artificial intelligence chips before finding out \u201cit\u2019s not easy in that business.\u201d Nvidia shares rose almost 1% in after-hours trading.<\/p>\n
Some of the main moves in markets:<\/p>\n
Stocks<\/p>\n
S&P 500 futures rose 0.1% as of 10:10 a.m. Tokyo timeHang Seng futures fell 0.1%Japan\u2019s Topix rose 1.6%Australia\u2019s S&P\/ASX 200 was little changedEuro Stoxx 50 futures rose 1.4%<\/p>\n
Currencies<\/p>\n
The Bloomberg Dollar Spot Index was little changedThe euro was little changed at $1.1774The Japanese yen rose 0.2% to 146.19 per dollarThe offshore yuan was little changed at 7.1461 per dollar<\/p>\n
Cryptocurrencies<\/p>\n
Bitcoin rose 0.8% to $118,953.47Ether rose 2% to $3,642.61<\/p>\n
Bonds<\/p>\n
The yield on 10-year Treasuries was little changed at 4.39%Japan\u2019s 10-year yield was little changed at 1.595%Australia\u2019s 10-year yield advanced four basis points to 4.34%<\/p>\n
Commodities<\/p>\n
West Texas Intermediate crude rose 0.4% to $65.49 a barrelSpot gold was little changed<\/p>\n
This story was produced with the assistance of Bloomberg Automation.<\/p>\n
\u2013With assistance from Winnie Hsu and Richard Henderson.<\/p>\n
\u00a92025 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"This content was published on July 24, 2025 – 03:17 (Bloomberg) \u2014 Asian equities posted their longest winning…\n","protected":false},"author":2,"featured_media":15288,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[456,84,10180,1868,467,3356,10181,56,54,55],"class_list":{"0":"post-19296","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bonds","9":"tag-business","10":"tag-business-general","11":"tag-currency-values","12":"tag-markets","13":"tag-stocks","14":"tag-ticker","15":"tag-uk","16":"tag-united-kingdom","17":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/19296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=19296"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/19296\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/15288"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=19296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=19296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=19296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}