Overview
- Asian stock markets, including Japan's Nikkei and South Korea's Kospi, rose on optimism surrounding U.S.-Japan trade negotiations, with the Nikkei posting its best weekly gain in three months.
- President Trump described the U.S.-Japan trade discussions as achieving 'big progress,' signaling potential relief from tariff pressures for key trading partners.
- U.S.-China trade talks remain at an impasse, contributing to a 0.4% drop in China's CSI 300 Index, as investors express disappointment over the lack of progress.
- The Federal Reserve maintained a cautious stance on interest rate cuts despite trade uncertainties, while the European Central Bank reduced rates by 25 basis points to counter economic risks.
- Nvidia projected a $5.5 billion charge due to new U.S. export controls on AI chips, weighing on semiconductor stocks and highlighting the impact of trade restrictions on the tech sector.