On Monday morning (26 May, 9:23 AM, GMT+7, Bangkok time), indices in Asia Pacific traded mixed as market participants digested news that the United States would delay the rollout of additional tariffs targeting European Union imports.
The White House announced a new deadline of July 9 for the potential imposition of a 50% tariff on goods coming from the EU, following discussions between President Trump and European Commission President Ursula von der Leyen. The extension gives both sides a bit more time to negotiate and possibly avoid a new round of trade tensions.
Meanwhile, the U.S. stock markets are slated to be closed on Monday for Memorial Day.
Japan’s NIKKEI surged by 0.57% to 37,370.93. South Korea’s KOSPI grew by 0.89% to 2,615.24, while Australia’s ASX 200 slid by 0.05% to 8,356.8.
As for stocks in China, Hong Kong’s HSI dropped by 0.53% to 23,475.25. Shenzhen’s SZI dipped by 0.2% to 10,112.05, while Shanghai’s SSEC added by 0.21% to 3,355.44.
Meanwhile, the US stock markets edged up on Friday as the Dow Jones Industrial Average (DJIA) decreased by 0.61% to 41,603.07. NASDAQ slumped by 1% to 18,737.21, and S&P 500 contracted by 0.67% to 5,802.82. VIX soared by 9.91% to 22.29.
As for commodities, oil prices settled higher on Friday, buoyed by U.S. traders closing positions before the extended Memorial Day holiday and heightened uncertainty surrounding ongoing nuclear negotiations between Washington and Tehran. Brent futures rose 34 cents or 0.54% to $64.78 a barrel, and the West Texas Intermediate (WTI) increased 33 cents or 0.54% to $61.53 per barrel.
This morning, Brent futures gained 19 cents or 0.29% to $64.97 a barrel, and the WTI futures grew 17 cents or 0.28% to $61.7 per barrel.
Meanwhile, gold futures declined 0.56% to $3,346.8 per Troy ounce.
