Asian stocks rose on Friday, buoyed by signs of easing trade tensions with the United States. Japan’s market led the gains, while technology companies rose on strong earnings.
The MSCI Asia Pacific Index rose 0.5%, on track for a fifth consecutive day of gains. The Nikkei 225 index climbed 2.2% after Japan’s chief trade negotiator said the US agreed to end so-called superimposed general tariffs and simultaneously lower auto taxes. Shares of SoftBank Group and Sony Group rose after they reported earnings.
New York gold futures prices soared after a Financial Times report said Swiss gold bars were facing US import tariffs. The most active New York gold futures contract rose to a record high of $3,534 per ounce during the trading session, and the premium over the London spot price widened further. Oil prices recorded their biggest weekly decline since June.
Despite the continuous market sentiment shock caused by tariff news, Asian stocks are expected to achieve their best performance since June this week, boosted by the rising expectations of the Federal Reserve’s interest rate cut. US President Donald Trump, in his latest trade offensive, targeted India and imposed a 39% tariff on Swiss products exported to the US, intensifying the tensions. He also stated that he was “very close to reaching an agreement” with China.
Tim Waterer, chief market analyst at KCM Trade, said: “Traders are keeping an eye on tariffs faced by countries such as India and Switzerland and believe that Japan’s situation is relatively good in comparison.” Investors “now think that Japan’s 15% tariff rate is relatively favorable.”
Japanese trade negotiator Ryohei Akazawa said Thursday after meeting with U.S. negotiators in Washington that the United States confirmed it would stop imposing universal tariffs on Japan and cut auto taxes as promised.
Akizawa said that US officials expressed regret that despite the verbal agreement reached by both sides, the US still imposed the superimposed rules on Japan, and stated that Washington would refund any overpaid taxes. After the meeting, Akizawa said that the two sides have not yet reached an agreement on the specific time for implementing the rule. Toyota Motor Corporation, Honda Motor Company and other automakers expressed strong dissatisfaction.
Technology companies have also driven up the Japanese stock market. SoftBank’s share price soared to a record high after the release of its quarterly earnings report. Sony’s share price continued to rise after it raised its operating profit forecast.
Technical analysis:
The functions of WeChat are subject to occasional restrictions. Students who want to experience the plug-in are kindly requested to try multiple times!!!
Gold: Yesterday, the green buy limit given by our plugin performed extremely well. With a stop-loss space of 5 dollars, it could nearly yield a profit of 40 dollars, with the maximum risk-reward ratio approaching 8 times. Considering the factor of Friday within the day, it is advisable to attempt momentum chasing, but caution should be exercised regarding position size and risk-reward ratio. At the same time, it is recommended to hold a defensive long position near 3360/70. For detailed positions, please consult the plugin.
The plugin is updated from 12:00 to 13:00 every trading day. If you want to experience the same plugin as shown in the picture, please contact V: Hana-fgfg and note “666” in the message.
Nasdaq: Yesterday, the sell operation we provided after the yellow sweep liquidity was very successful, achieving a profit-loss ratio of about 3 times. However, the performance in the blue area failed once. Today, we will continue to wait for a clear bearish signal to appear before catching the pullback. If the price continues to hit new highs without a pullback, it is recommended to wait and see. For detailed positions, please consult the plugin.
(NASDAQ 15-minute chart)
The plugin is updated from 12:00 to 13:00 every trading day. If you want to experience the same plugin as shown in the chart, please contact V: Hana-fgfg and note “666” in the message.
Crude oil: Continue to wait for a breakthrough in momentum within the day and then look for long signals. Pay attention to the performance near the 65-65.50 integer level within the day. For detailed positions, please consult the plugin.
(Crude Oil 15-Minute Chart)
The plugin is updated from 12:00 to 13:00 every trading day. If you want to experience the same plugin as shown in the picture, please contact V: Hana-fgfg and note “666” in the message.
Today’s key economic data and events to focus on:
20:30 Canada July Employment Change (Thousand)
At 22:20, James Bullard, President of the Federal Reserve Bank of St. Louis, will deliver a speech.
