Japan’s export growth slowed in April, weighed by a decline in shipments to the U.S. as businesses in the world’s fourth-largest economy braced for the hit to a fragile economic recovery from President Donald Trump’s tariffs.
Oil prices rose more than 1% on Wednesday after reports that Israel could be preparing to strike Iranian nuclear facilities raised fears of a supply disruption in the Middle East.
The U.S. dollar fell further Wednesday, continuing to head lower on uncertainty over President Donald Trump’s tax bill, while sterling jumped after a hot inflation report.
Thailand’s cabinet has reallocated 157 billion baht ($4.7 billion) of budget spending away from a consumer stimulus scheme to fund projects in the coming months that will help counter the impact of U.S. tariffs, the government said on Tuesday.
Most Asian stocks rose marginally on Tuesday, with China in the lead after Beijing cut a key lending rate as expected, while Australian shares maintained gains after the Reserve Bank cut interest rates and warned on the economy.
Oil prices steadied on Tuesday due to uncertainty in U.S.-Iran negotiations and Russia-Ukraine peace talks, while new government data delivered a cautious outlook for top crude-importer China’s economy.