Bloomberg Daybreak: Asia Edition
Stock Rally Loses Steam After Wavering Tariff News
Apr 24, 2025
SK Kim, Executive Director at Daiwa Securities, and Mark Cranfield, Bloomberg MLIV Strategist, dive into the volatile landscape of Asian stocks amid wavering U.S.-China tariff news. They discuss how mixed signals from the Trump administration have dampened market enthusiasm and the implications for the S&P 500. SK Hynix's impressive 158% rise in operating income is highlighted, driven by AI demand and stockpiling fears. The duo also explores how major tech firms are responding to evolving trade policies, balancing short-term challenges with long-term growth prospects.
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Quick takeaways
- Uncertainty surrounding U.S.-China trade tariffs is influencing market volatility, prompting investors to seek stability in other regions.
- Strong demand for AI technology is driving growth for SK Hynix, despite uncertainties in the semiconductor market due to trade tensions.
Deep dives
U.S.-China Trade Talks Uncertainty
Recent comments from U.S. Treasury Secretary Scott Besson highlighted the uncertainty surrounding the U.S.-China trade war, particularly regarding potential tariff cuts. Despite a report suggesting the possibility of significant reductions in tariffs on Chinese goods, Besson indicated that the administration had not made a unilateral offer to cut tariffs. This comes at a time when China has expressed willingness to engage in dialogue about trade, while President Trump hinted at a potential adjustment in tariff rates in the near future. The lengthy process of achieving a balanced trade relationship could take two to three years, underscoring the complexity and slow pace of negotiations between the two nations.
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