On Wednesday morning (16 July, 9:24 AM, GMT+7, Bangkok time), indices in Asia Pacific traded mixed following statements from U.S. President Donald Trump, who announced on Tuesday a preliminary trade deal with Indonesia. Under the new arrangement, Indonesian goods headed for the U.S. would be subject to a 19% tariff, while American exports to Indonesia would be exempt from any duties.
Additionally, investors will be monitoring monetary policy announcements from Indonesia’s central bank scheduled for later in the day.
In the U.S., consumer prices increased by 0.3% last month, driving the annual inflation rate up to 2.7%, the highest level since February.
This result aligns precisely with economists’ predictions for the headline CPI. This new data revealed a rise from the 2.4% annual inflation reported in May, although still trailing the 3% recorded in January when Trump began his term.
Japan’s NIKKEI slid by 0.12% to 39,631.38. South Korea’s KOSPI dropped by 0.55% to 3,197.62, and Australia’s ASX 200 contracted by 0.75% to 8,565.9.
As for stocks in China, Hong Kong’s HSI surged by 0.56% to 24,728. Shenzhen’s SZI added 0.19% to 10,765.43, while Shanghai’s SSEC dipped by 0.13% to 3,500.36.
The U.S. stock markets were mixed on Tuesday as the Dow Jones Industrial Average (DJIA) fell by 0.98% to 44,023.29. S&P 500 edged down by 0.4% to 6,243.76, while NASDAQ rose by 0.18% to 20,677.8. VIX gained 1.05% to 17.38.
As for commodities, oil prices settled lower on Tuesday as market anxieties over a near-term supply shock diminished, following President Donald Trump’s announcement of a 50-day deadline for Russia to cease its military actions in Ukraine and avert sanctions. Brent futures decreased 50 cents or 0.7% to $68.71 a barrel, and the West Texas Intermediate (WTI) lost 46 cents or 0.7% to $66.52 per barrel.
This morning, Brent futures grew 31 cents or 0.45% to $69.02 a barrel, and the WTI futures increased 43 cents or 0.65% to $66.95 per barrel.
Meanwhile, gold futures declined by 0.07% to $3,334.5 per Troy ounce.
