This content was published on <\/p>\n
August 6, 2025 – 03:18\n<\/p>\n
(Bloomberg) \u2014 Asian shares traded in a narrow range as weak US services data fueled uncertainty over the Federal Reserve\u2019s policy path, while shares of chipmakers and pharmaceutical companies declined on tariff threats.<\/p>\n
Japanese shares rose while South Korean stocks dropped. The broader MSCI Asia Pacific Index was little changed. Asian chip-related stocks and some pharmaceutical companies fell after President Donald Trump said he will announce tariffs on the sectors \u201cwithin the next week or so.\u201d<\/p>\n
Treasuries edged lower with the yield on the 10-year gaining almost one basis point to 4.22%. Oil edged up after four consecutive days of declines while a gauge of the dollar was steady. US equity-index futures slipped.<\/p>\n
The S&P 500 was on the brink of all-time highs on Tuesday, before losing steam. The pullback in stocks highlighted investor anxiety over the Fed\u2019s next move, with economic data complicating the central bank\u2019s balancing act between controlling inflation and sustaining growth. Stocks had rallied Monday amid growing bets on potential rate cuts after weak jobs data last week.<\/p>\n
\u201cWe expect further choppy trading to persist in the later stages of summer, especially as the path of interest-rate policy remains unknown and highly sensitive to incoming economic data,\u201d said Chris Senyek at Wolfe Research.<\/p>\n
The US services sector effectively stagnated in July as firms \u2014 faced with tepid demand and rising costs \u2014 reduced headcount. The data, released Tuesday, painted a picture of a sluggish service economy wrestling with the fallout of higher tariffs, cautious consumers and uncertainty stemming from Trump\u2019s policies.<\/p>\n
Data out last week showed weaker-than-expected jobs data while inflation-adjusted consumer spending barely rose.<\/p>\n
\u201cTraders are continuing to speculate on the time of the Fed\u2019s next rate cuts with sticky inflation signs weighed against weakening economic indicators,\u201d said Fawad Razaqzada at City Index and Forex.com.<\/p>\n
He also noted the S&P 500 outlook could start to deteriorate in the near-term amid warnings over sky-high valuations against a backdrop of weakening economy.<\/p>\n
Asian chip-related stocks declined after a stream of negative news, including a Taiwanese probe into an alleged theft of Taiwan Semiconductor Manufacturing Co.\u2019s trade secrets. Shares of the chipmaker fell 1.7% Wednesday.<\/p>\n
Also, Advanced Micro Devices Inc. warned that its access to the crucial China market remains uncertain. Super Micro Computer Inc. tumbled after its results missed expectations.<\/p>\n
In other tariff news, Trump said he was \u201cgetting very close to a deal\u201d with Beijing. Trump also suggested he would impose increased tariffs on additional countries buying energy from Russia \u2014 including China \u2014 after saying earlier Tuesday that he would raise levies on Indian exports within 24 hours.<\/p>\n
India is racing to contain the economic fallout from Trump\u2019s threatened tariffs, which has left officials in New Delhi feeling shocked, jilted and unsure of how to respond. Indian shares and the currency fell Tuesday ahead of the central bank\u2019s rate decision later Wednesday.<\/p>\n
In other tariff news, Swiss President Karin Keller-Sutter arrived in Washington to make a last-minute bid for a deal to lower the 39% tariff imposed last week. The trip is to \u201cfacilitate meetings with the US authorities at short notice and hold talks,\u201d the government said in a statement.<\/p>\n
Corporate News:<\/p>\n
Cathay Pacific Airways Ltd. is poised to place an order for new aircraft from Boeing Co. for the first time in 12 years. Advanced Micro Devices Inc. said the chipmaker\u2019s return to the crucial China market is difficult to predict, overshadowing a generally upbeat forecast for its AI business. Some of the main moves in markets:<\/p>\n
Stocks<\/p>\n
S&P 500 futures were little changed as of 10:16 a.m. Tokyo time Nikkei 225 futures (OSE) fell 0.1% Japan\u2019s Topix rose 0.8% Australia\u2019s S&P\/ASX 200 rose 0.5% Hong Kong\u2019s Hang Seng rose 0.7% The Shanghai Composite rose 1% Euro Stoxx 50 futures were little changed Currencies<\/p>\n
The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1569 The Japanese yen was little changed at 147.64 per dollar The offshore yuan was little changed at 7.1927 per dollar The Australian dollar was little changed at $0.6474 Cryptocurrencies<\/p>\n
Bitcoin rose 0.2% to $113,875.98 Ether rose 0.3% to $3,585.91 Bonds<\/p>\n
The yield on 10-year Treasuries was little changed at 4.22% Japan\u2019s 10-year yield advanced one basis point to 1.475% Australia\u2019s 10-year yield was little changed at 4.23% Commodities<\/p>\n
West Texas Intermediate crude rose 0.4% to $65.41 a barrel Spot gold was little changed This story was produced with the assistance of Bloomberg Automation.<\/p>\n
\u2013With assistance from Winnie Hsu.<\/p>\n
\u00a92025 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"This content was published on August 6, 2025 – 03:18 (Bloomberg) \u2014 Asian shares traded in a narrow…\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":["post-46957","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-bonds","tag-business","tag-business-general","tag-currency-values","tag-markets","tag-stocks","tag-ticker","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/46957","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=46957"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/46957\/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=46957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=46957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=46957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}