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TMI BlogStock market: Asian shares sag as worries over US-China trade weigh on outlook for regionX X X X Extracts X X X X X X X X Extracts X X X X ..... Stock market: Asian shares sag as worries over US-China trade weigh on outlook for region X X X X Extracts X X X X X X X X Extracts X X X X ..... ng gave up 0.6 per cent to 23,196.33, while the Shanghai Composite index edged 0.1 per cent lower, to 3,368.24. Australia's S&P/ASX 200 shed 0.7 per cent to 8,252.50. South Korea's Kospi lost 0.3 per cent to 2,637.45 after the Bank of Korea cut its benchmark interest rate to 2.75 per cent from 3 per cent, its third cut in four meetings as it moves to support the slowing economy. Taiwan's Tai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ex fell 1 per cent and the Sensex in India gained 0.4 per cent. Trump said Monday that tariff hikes on imports from America's neighbours Canada and Mexico will move ahead after a one-month delay. The president has openly antagonised multiple US trading partners recently, threatening to raise tariffs and inviting them to retaliate with import taxes of their own that could send the economy hurtlin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g into a trade war. Trump has put an additional 10 per cent tariff on Chinese imports due to that country's role in the production of the opioid fentanyl. Major companies have warned about uncertainty over US trade policies, while the University of Michigan's latest consumer sentiment index plunged by roughly 10 per cent over the past month in part due to fears about tariffs and inflation wors ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ening. On Monday, US stocks drifted lower, compounding their sharp losses from last week. German stocks ticked higher, and the DAX advanced 0.6 per cent after political conservatives won an election dominated by concerns about Europe's largest economy. The S&P 500 dipped 0.5 per cent to 5,983.25 on Monday after flipping between small gains and losses several times through the day. The Dow Jo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nes Industrial Average added 0.1 per cent to 43,461.21, while the Nasdaq composite fell 1.2 per cent to 19,286.92. Berkshire Hathaway climbed 4.1 per cent for one of the market's bigger gains after Warren Buffett's company reported a jumped in operating profits for the latest quarter. But even there, the good news came with a bit of caution. The owner of Geico, BNSF railroad and other business ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es said over the weekend that it's sitting on a mountain of USD 334.2 billion in unused cash. Such a large amount could indicate Buffett, who's famous for buying stocks when prices are low, may not see much worth purchasing in a market that critics say looks too expensive. Starbucks rose 1.3 per cent after saying it would cut 1,100 corporate jobs and leave several hundred more positions unfilled ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as new CEO Brian Niccol tries to make it a leaner operation. Big US companies have broadly been reporting better profits for the last three months of 2024 than analysts expected, which is one of the main reasons the S&P 500 set a record before sliding at the end of last week. On Wednesday, Nvidia, the company that's become one of Wall Street's most influential stocks because of what had been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nearly insatiable demand for its chips, will make its first profit report since a China's DeepSeek upended the artificial-intelligence industry by saying it developed a large language model that can compete with big US rivals without having to use the most advanced and expensive chips. That called into question all the spending Wall Street had assumed will be required for the ecosystem that's bu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ilt around the AI boom, including electricity to power large data centres. Nvidia's stock lost 3.1 per cent and was the heaviest single weight on the S&P 500. This week will also feature updates on consumer confidence and inflation, topics leading Wall Street's agenda following last week's slump. In other dealings early Tuesday, US benchmark crude oil gained 52 cents to USD 71.22 per barrel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in electronic trading on the New York Mercantile Exchange.
Brent crude, the international standard, climbed 0.7 per cent to USD 74.75 per barrel.
The dollar fell to 149.50 Japanese yen from 149.71 yen. The euro rose to USD 1.0473 from USD 1.0468. (AP) GRS GRS X X X X Extracts X X X X X X X X Extracts X X X X
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