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As on : 10-Jul-2025

Market Commentary - Foreign Markets
10-Jul-2025 15:42

China's Shanghai Composite index rise 0.48%

Asian stocks ended Thursday's session mostly higher, unfazed by U.S. President Donald Trump's latest tariff salvos.

After threatening tariffs on copper and pharma, Trump upped the stakes in his global trade war with a fresh round of tariffs on imports from eight nations.

He imposed a 50 percent tariff on Brazilian imports over Jair Bolsonaro's prosecution, prompting sharp retaliation from President Lula.

Gold edged higher on a softer dollar and lower bond yields while oil prices were little changed in Asian trade on signs of rising U.S. stockpiles and concerns about global economic outlook.

China's Shanghai Composite index rose 0.48 percent to 3,509.68 and Hong Kong's Hang Seng index climbed 0.57 percent to 24,028.37 as investors looked through the latest tariff headlines. EV and real estate stocks rallied after Beijing pledged policy support for job stability.

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