Investors across the world look cautious amid major economic movements, especially the uncertainty around the July 9 tariff deadline set by US President Donald Trump.
Asian markets traded mixed on Thursday as most of the indices remained flat while investors looked bullish in Japan and South Korea.
As the United States House moves towards the final vote of Donald Trump’s sweeping tax bill, investors in Asia will look for cues from Wall Street’s reaction to the vote.
The recent decision by the United States to lift export restrictions on China for chip design software developers and ethane producers is expected to boost the sentiment.
Japan’s Nikkei rebounds
Japan’s Nikkei index managed a modest gain on Thursday, despite lingering concerns over a potential trade agreement with the United States and the risk of steep tariffs dampening investor sentiment.
For most of the day, Japanese stocks traded in negative territory before edging up by the close.
The Nikkei 225 closed 0.1% higher, putting an end to a two-day losing streak, while the broader Topix index also inched up by 0.1%.
Hong Kong stocks ended in negative territory on Thursday, with the Hang Seng Index slipping by 0.63% to close at 24,069.94.
The decline was mirrored across key sub-indices. The Hang Seng China Enterprises Index dropped 0.88%, finishing at 8,648.44, while the Tech Index also lost ground, falling 0.67% to end the day at 5,233.71.
Asian markets: Kospi hits a 4-year high
The investors in South Korea looked more optimistic as the benchmark Kospi index is trading at 4-year high levels.
South Korean shares climbed over 1% on Thursday driven by strong performances in major tech and steel stocks, as investor confidence got a lift from amendments to the shareholder-friendly Commercial Act and encouraging signs from tariff negotiations with the US.
Kospi jumped 41.21 points, or 1.34%, to close at 3,116.27.
The stock markets in China appreciated the United States’ move to ease the export restrictions as the CSI 300 index surged 0.62% to close at 3,968.07.
In the broader Pacific region, Australia’s S&P/ASX 200 remained muted throughout the day and ended flat at 8,595.80.
Sensex, Nifty shed gains
Indian equity benchmarks closed lower on July 3 after a choppy trading session, with the Nifty 50 settling at 25,397.30, 0.22% lower from its previous close.
Sensex, which opened in green on Thursday witnessed major bearish action towards the closing bell and closed 0.20% lower at 83,239.47.
Among the top performers on the Nifty were Apollo Hospitals, ONGC, and Maruti Suzuki.
On the flip side, SBI Life Insurance, Kotak Mahindra Bank, and Bajaj Finserv ended the day in the red.
Sector-wise, metals, realty, and PSU banks slipped around 0.5% each.
Meanwhile, gains were seen in pharma, media, oil & gas, auto, and consumer durables, which rose between 0.3% and 1%.
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