financetom
World
financetom
/
World
/
Morning Bid: Tariffs, tech fatigue rev up month-end turbulence
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Morning Bid: Tariffs, tech fatigue rev up month-end turbulence
Feb 27, 2025 2:12 PM

(Reuters) - A look at the day ahead in Asian markets. 

A mega wave of regional economic data breaks on Asian markets on Friday, with investors already bracing for a nervous end to the month as they weigh up tariff threats from Washington, further signs of U.S. economic slowdown, and fatigue on Wall Street.

Top-tier indicators from Asia due on Friday include Tokyo inflation, Japanese retail sales and industrial production, and fourth quarter GDP from India, while keenly-awaited PCE inflation figures from the US will also be released. 

The mood going into the final trading day of the month is pessimistic, soured by deepening concerns over the impact U.S. President Donald Trump's proposed tariffs will have on growth.  

In the last 24 hours Trump has said 25% duties will be slapped on imports from the European Union, reiterated that tariffs on imports from Canada and Mexico will come into effect on March 4 - not April 2 as he had previously suggested - and said goods from China will be subject to an additional 10% duty.

Bank of Japan Governor Kazuo Ueda echoed these concerns from Cape Town, where the G20 meeting of finance ministers and central bank governors - which officials from many countries, including the U.S., skipped - concluded without consensus or communique.

This is another sign of the fraying of the global financial and economic order that has held for decades. The G20 "chair's summary" said participants "reiterated the commitment to resisting protectionism," but the wind from Washington is blowing in the opposite direction.

The impact on stocks continues to be most visible in tech. The Nasdaq fell sharply again on Thursday and is now down 5% year to date, significantly underperforming the Dow and S&P 500.

Chipmaker Nvidia may have issued reasonably decent results and forecasts on Wednesday but investors slammed the shares down 8.5% on Thursday. The upside for continued growth in revenue, earnings and the share price at the pace seen in recent years is negligible, so it's understandable fatigue is setting in.

Tesla shares are also on the slide, extending their losses on Thursday to more than 20% in barely a week. An ETF tracking the 'Magnificent Seven' U.S. tech shares hit a three-month low on Thursday too, and is down almost 10% since Feb. 18.

U.S. Big Tech's losses have been Chinese tech's gains, a rotation turbo-charged by the emergence of Chinese low-cost artificial intelligence model DeepSeek. Hong Kong-listed Chinese tech shares hit a fresh three-year high on Thursday before closing lower, and are on track for a monthly gain of 25%.

But with U.S. yields and the dollar also up, Asian stocks and currencies are set to open on Friday under pressure. 

Here are key developments that could provide more direction to Asian markets on Friday:

- Japan Tokyo inflation (February)

- Japan industrial production, retail sales (January)

- India GDP (Q4)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Morning Bid: Markets becalmed, eyes on Japan
Morning Bid: Markets becalmed, eyes on Japan
Oct 25, 2024
(Reuters) - A look at the day ahead in Asian markets.  A day of general calm across world markets on Thursday that saw the dollar and U.S. bond yields soften and stocks consolidate bodes well for markets in Asia on Friday as attention focuses on political and economic events in Japan.  Voters go to the polls in Sunday's general election,...
Oil prices rise 1% as Mideast attacks heighten supply concerns
Oil prices rise 1% as Mideast attacks heighten supply concerns
Oct 24, 2024
Oct 24 (Reuters) - Oil prices climbed by around 1% on Thursday, reversing some of previous session's losses, as Middle East tensions kept the market on edge ahead of the U.S. presidential election amid expectations of strong distillates demand in fourth quarter. Brent crude futures rose 77 cents, or 1%, to $75.73 a barrel by 0655 GMT, while U.S. West...
PMIs take centre stage
PMIs take centre stage
Oct 25, 2024
A look at the day ahead in European and global markets from Rae Wee Markets in Europe on Thursday will be focused on a raft of preliminary Purchasing Managers' Index (PMI) readings, particularly from the euro zone, where growth prospects have become a source of concern among investors and policymakers. Business activity in the bloc is expected to have remained...
DIARY-Europe's STOXX 600 corporate earnings week ahead
DIARY-Europe's STOXX 600 corporate earnings week ahead
Oct 25, 2024
Oct 25 (Reuters) - Diary of Europe's STOXX 600 (.STOXX) corporate earnings for the week ahead EUROPE'S STOXX 600 EARNINGS Company Name Event Name Start Date Start Time(GMT) RIC 28-Oct-2024 NTS BAWG.VI BAWAG Group AG Q3 2024 BAWAG Group AG Earnings Release 28-Oct-2024 BMO GALP.LS Galp Energia SGPS SA Q3 2024 Galp Energia SGPS SA Earnings Release 28-Oct-2024 BMO KPN.AS...
Copyright 2023-2025 - www.financetom.com All Rights Reserved