Asian currencies are strengthened against the greenback while investors analyze the relief tensions of the Middle East
Asian currencies were strengthened on Thursday compared to the US dollar while investors continued to assess the relaxation of the tensions of the Middle East.
THE Taiwanese dollar Appreciated 0.8% to 29.151 against the greenback, its strongest level since June 2022.
THE Japanese yen Reinforced from 0.3% to 144.81 per US dollar, and the Yuan Offshore appreciated 0.15% to 7,1606 compared to the dollar.
Likewise, the Won South Korean And Singaporean dollar won 0.12% and 0.18% respectively to negotiate at 1,357.2 and 1.2757 against the greenback.
– Lee Ying Shan
Citi raises predictable Chinese GDP to reach the official Beijing objective of 5%
Citi Bank increased China growth forecasts for 2025 to 5%, against 4.7%, in accordance with the official Beijing objective, stimulated by robust growth in the first half and resilient exports.
The 20% tariff linked to fentanyl that US President Donald Trump has imposed on Chinese imports will probably be suspended or returned in the coming months, analysts of the investment bank in a ticket announced on Wednesday.
Despite certain “rates tariff mountains”, the bank estimates that the global exports of China would remain resilient, jumping an annual growth of 2.3%. It is despite a drop estimated at 10% of the shipment linked to the United States this year.
Deflation in the economy may persist, warned Citi, which will probably encourage decision-makers to take “mini-stages” to curb the offer and capacity of capacity.
“We see the determination of the company’s policy to achieve the objective of GDP despite little urgent need to conduct the current policy,” analysts said in a note on Wednesday.
The Chinese central bank will probably reduce its main rate of 10 basic points in the second half of this year, in addition to a drop of 50 points in the reserve needs ratio, which determines the amount of species that banks must hold in reserves.
Citi also expects the Chinese Ministry of Finance to increase its budget recovery with 500 billion additional yuan ($ 69.8 billion).
– Anniek Bao
Rice prices are cooling in Japan while supplies warm up
After months of increasing rice prices, Japanese consumers can finally obtain a certain relief.
Data from the Ministry of Agriculture of Japan revealed that the average price of a five kg rice bag had fallen to 3,920 yen ($ 27.03) for the week ending on June 15, which marked the first time that Rice had fallen below the 4,000 -year brand since the week that ended on March 2.
It was also the first time that rice prices have appeared in the objective set by Prime Minister Shigeru Ishiba.
In May, Ishiba promised to lower prices, saying that he thought that “rice prices should be in the range of 3,000 Yons, because staying in the range of 4,000 yons cannot be right”. Ishiba would also have told the opposition legislators he would take personal responsibility of the question.
Rice was a warm subject in Japan, with prices and shortages that led to empty shelves in supermarkets across the country.
Read the full story here.
—Le jie
Gold prices should drop by more than 20% at the end of 2025 and 2026, Citi explains
Gold prices should decrease by more than 20% at the end of 2025 and 2026 on the back of higher growth prospects in the United States, Citi said.
“We see the investment request for the infringement of gold at the end of 2025 and 2026, as ultimately, we see the popularity of President Trump and the growth of the United States” kicked off, “wrote Citi analysts in a note.
In addition, during the next six to nine months, the bank sees “a lot of scope for the Fed going from restrictive policy to neutral”, which strengthens the feeling of growth in the United States and in the world.
Gold prices have changed new heights this year, the cash prices in cash is currently trading at $ 3,340.29 per ounce.
—Lee Ying Shan
The actions of the South Korean defense briefly climb on the report of increased cooperation with NATO
The main actions of the South Korean defense briefly climbed early Thursday on information that the country accepted Establish an advisory body on the cooperation of the defense industry With NATO, before falling into volatile trade.
Ephemeral gains have ranks with the country Kospit Index, which decreased by more than 1%.
Hanwha Aerospace won up to 3.38%, while Hyundai Rotem increased by 5.31%. Korea Aerospace Industries was up 2.78%.
South Korean weapons have been popular in recent years as Defense expenses have increasedsending actions of the country’s defense companies To record the summits.
– Lim Hui jie
Asian flea stocks climbed after the closure of Nvidia to Record High
Actions related to semiconductors in Asia have exchanged more Nvidia Actions have increased by more than 4% in the United States and closed in a record for the first time since January.
Semiconductor testing equipment supplier The highestActions increased 3.15% of Singapore, while conglomerate technology by 8:15 am at 8:15 a.m. Flexible bank – who has a stake in Chip Designer Arm – increased by 3.42%. Tokyo Electron also increased by 0.81%.
NVIDIA is now worth 3.77 billions of dollars, making it the largest company in the world by market capitalization, slightly beating MicrosoftOne of its main customers. Apple Comes third at around 3 billions of dollars.
—Lee Ying Shan, Kif Leswing
S&P 500 closes near the flat line
The S&P 500 closed little changed on Wednesday, but remains within the reach of the weapons of its record.
The wide market index was stable to finish the session at 6,092.16, while the NASDAQ composite gained 0.31% to 19,973.55. The industrial average of Dow Jones slipped 106.59 points, or 0.25%, to end at 42,982.43.
– Brian Evans
Powell keeps a cautious tone on the rates during the Senate testimony
The president of the FED, Jerome Powell, testifies before the Senate Banks, Housing and Urban Affairs Committee during a hearing to “examine the semi -annual monetary policy report” on Capitol Hill on June 25, 2025 in Washington, DC.
Kent Nishimura | Getty images
President of the Federal Reserve Jerome Powell In his second day of testimony of Capitol Hill, stuck to his prudent approach to prices and inflation, saying that there will be room for rate reductions if the impact is temporary.
“It is a risk. We believe that, like people who are supposed to keep stable prices for the benefit of the American people, we can also manage this risk,” said the Central Bank chief apparently Before the Senate banking committee. “That’s all we do. We don’t decide yet what to do.”
As he did for His testimony Tuesday Before the Chamber’s Financial Services Committee, Powell would not put any calendar at the moment when he thinks that new interest rate drops are possible, despite the high pressure that President Donald Trump has exerted to ensure that the Fed reduces rates.
Earlier in the day, Trump called Powell as “terrible” in a conversation with journalists, and said that he had three or four candidates to replace, according to several media reports.
Despite the political pressure, most of the questions Powell encountered at the compulsory two -day hearing was cordial. Senator Bernie Moreno (R-Ohio) was one of the few to take an openly hostile it.
“You cost this government $ 400 billion a year by refusing to reduce interest rates,” said Moreno. “No one in this room has this kind of power to have an impact of $ 400 billion on our economy. I just think you should wonder if you are really looking for political loans because you don’t like prices.”
Echoing Trump’s criticism, Moreno said: “We were elected by millions of voters, you were elected by one person. He does not want you in this work.”
—Jeff Cox
