Decline in Oil Prices Amid U.S.-China Trade Tensions
Oil prices decreased on Thursday due to ongoing trade tensions between the U.S. and China.
Brent Crude saw a 1.41% decline, bringing its price to $64.61 per barrel by 12:40 p.m. Singapore time, following a significant one-day gain the previous session.
Similarly, West Texas Intermediate (WTI) dropped by 1.19% to $61.62.
The dip in oil prices is particularly concerning for China, the globe’s largest oil importer, as heightened U.S. tariffs may negatively impact its fuel and petrochemical sectors.
— Amala Balakrishner
Tech Giants in Asia Experience Significant Gains
In the Asia-Pacific region, technology stocks made notable gains on Thursday, reversing earlier losses from the week.
In Japan, the surge was led by Renesas Electronics, which rose 14.31% by noon in Singapore.
Other strong performers included SoftBank Group with a 10.97% increase, Lasertec which gained 14.06%, and Advantest Corp with a rise of 13.78%.
South Korea’s SK Hynix climbed 9.27%, while Samsung Electronics increased by 5.57%. Gains among tech stocks in Hong Kong were generally modest, primarily within the low single digits.
— Amala Balakrishner
Ray Dalio Encourages Trump to Negotiate with China
Ray Dalio from Bridgewater Associates urged President Trump to negotiate with China following his announcement to pause tariffs on all countries except China for 90 days.
Dalio expressed on social media that there are more beneficial approaches to address issues around unsustainable debt and imbalances, emphasizing the importance of negotiations.
Trump’s decision prompted a rally in Wall Street, contributing to a surge in Asian markets on Thursday.
— Vinay Dwivedi
Australian Mining Stocks Surge with Rising Gold Prices
On Monday, Australian mining stocks experienced considerable rises as gold prices increased following President Trump’s temporary suspension of tariffs on all nations except China for 90 days.
Gold miners like Evolution Mining and Kingsgate Consolidated saw gains of 7.16% and 8.15%, respectively.
Major mining companies such as Rio Tinto, Fortescue, and BHP Group had increases of 6.29%, 5.81%, and 6.09% respectively, reflecting a positive trend in the sector.
— Amala Balakrishner
Spot Gold Prices Exceed $3,100 Amid Market Rally
The price of spot gold surpassed the $3,100 threshold on Thursday as investors sought safety in the precious metal amid rising tensions with China, with prices reaching $3,123.72 per ounce.
This increase followed a strong performance the previous day, marking significant interest in gold during turbulent market conditions.
SK Hynix Stock Soars Over 10% Following Tariff News and AI Demand
Shares of SK Hynix surged by over 10% after President Trump’s announcement to pause certain tariffs and reports indicated that the company outperformed its rival, Samsung, in key markets.
SK Hynix’s revenue share in the DRAM market reached 36%, surpassing Samsung’s 34%, with strong demand for high bandwidth memory contributing to this milestone.
— Dylan Butts
China’s Consumer Prices Decrease for Second Month; Producer Prices Decline Deepens
China’s consumer prices contracted for the second consecutive month amidst a deepening decline in producer prices as the trade conflict with the U.S. escalates.
The Consumer Price Index dropped by 0.1% year-on-year in March, continuing from a 0.7% decrease in February, while producer prices have now fallen for 29 straight months with a drop of 2.5% in March.
— Lim Hui Jie, Anniek Bao
