China shares drift
China stock drifted and Hong Kong shares fell on Thursday as Washington signalled a willingness to lower tariffs against China, but ruled out unilateral moves, bewildering investors over how the damaging Sino-US trade war will evolve.
China’s blue-chip CSI300 Index and the Shanghai Composite Index both erased early gains to end the morning session down 0.1 percent.
| Sovereign Ratings | |||
|---|---|---|---|
| Details | Moody’s ratings [+] | S&P ratings [+] | Fitch ratings [+] |
| United States [+] | Aaa | AA+ | AAA |
| United Kingdom [+] | Aa3 | AA | AA- |
| Germany [+] | Aaa | AAA | AAA |
| France [+] | Aa3 | AA- | AA- |
| Japan [+] | A1 | A+ | A |
| Spain [+] | Baa1 | A | A- |
| Italy [+] | Baa3 | BBB+ | BBB |
| UAE [+] | Aa2 | AA | AA- |
| Australia [+] | Aaa | AAA | AAA |
| Bangladesh [+] | B2 | B+ | BB- |
| Belgium [+] | Aa3 | AA | AA- |
| Canada [+] | Aaa | AAA | AA+ |
| Switzerland [+] | Aaa | AAA | AAA |
| China [+] | A1 | A+ | A+ |
| Sri Lanka [+] | Caa1 | SD | RD |
| Malaysia [+] | A3 | A- | BBB+ |
| Oman [+] | Ba1 | BBB- | BB |
For second consecutive session, miners drive australian shares higher
Australian shares extended their rally for a second successive session on Thursday, with miners leading gains, as investors climbed the wall of worry on renewed hopes of progress in the US-China trade dispute.
S&P/ASX 200 index rose 0.4 percent to 7,955.6 points by 0023 GMT.
The benchmark closed 1.3 percent higher on Wednesday. Overnight, US Treasury Secretary Scott Bessent flagged that steep tariffs on China couldn’t be maintained long term.
US President Donald Trump on Tuesday said he had no plans to fire Federal Reserve Chair Jerome Powell despite days of criticism, and added that a potential deal with Beijing could sharply roll back tariffs on Chinese goods.
Tech, autos boost Japan’s Nikkei
Japan’s Nikkei share average rose to a three-week high on Thursday, tracking a tech-led rally on Wall Street overnight, as the White House signalled a willingness to de-escalate its trade war with China.
A rebound in the dollar against the yen provided a further tailwind, while an FT report that US President Donald Trump may exempt car companies from some tariffs lent additional support to auto shares.
The Nikkei gained 1.1 percent as of the midday recess, and touched 35,287.95 for the first time since April 2 when Trump stunned world markets with his far more aggressive-than-anticipated “Liberation Day” reciprocal tariffs.
The broader Topix rose 1 percent. On Wednesday, US Treasury Secretary Scott Bessent said that the current astronomical levies between the United States and China are not sustainable and “a break between the two countries in trade does not suit anyone’s interest,” signalling the White House’s willingness to talk.
Indian stocks likely to open higher
India’s benchmark indexes are set to open higher on Thursday as foreign inflows and hopes of a de-escalation in U.S.-China trade tensions could aid investor sentiment.
However, the trend through the day will likely be dictated by earnings from fast-moving consumer goods major Hindustan Unilever and Nestle India, and the expiry of monthly derivatives contracts.
Gift Nifty futures were trading at 24,415.5 as of 8:01 a.m. IST, indicating a 0.3 percent rise for the Nifty 50 compared with Wednesday’s close of 24,328.95.
Hong Kong shares end at near 3-week high
Hong Kong shares rose on Wednesday, tracking global peers amid optimism over a potential de-escalation in Sino-US trade tensions and as US President Donald Trump backed off from attacking Federal Reserve Chair Jerome Powell.
Mainland Chinese shares, however, finished largely flat.
Hong Kong’s benchmark Hang Seng index jumped 2.37 percent to close at 22,072.62 points, its highest since April 3.
Most Gulf shares gain
Most stock markets in the Gulf ended higher on Wednesday, after U.S. President Donald Trump said he had no plans to fire Federal Reserve Chair Jerome Powell and hinted at lower tariffs for China.
On Tuesday, Trump backed off from threats to fire Powell after days of intensifying criticisms of the central bank chief for not cutting interest rates.
The president also reiterated that he wanted a deal with China, following which tariffs would not be anywhere near 145 percent, and said he would set the terms of the deal if Beijing did not enter talks.
Saudi Arabia’s benchmark index finished 0.8 percent higher, led by a 3.6 percent rise in ACWA Power Company and a 2.5 percent increase in Saudi Telecom Company.
Sri Lankan stocks fall
Sri Lankan shares closed slightly lower on Wednesday as weakness in information technology and consumer staples countered gains in materials and industrials.
The CSE All-Share index settled 0.08 percent lower at 15,543.99 points.
Harischandra Mills and Lion Brewery were the top losers by index points, down 400 points and 62 points, respectively.
Trading volume on the index rose to 38.48 million shares from 36.58 million shares in the previous session.