Waterfront metropolis skyline of Sydney metropolis downtown astatine nighttime with agleam illumination of modern architectural landmarks successful Sydney, Australia.
Prasit Photo | Moment | Getty Images
Asia-Pacific markets traded mixed on Monday aft U.S. President Donald Trump confirmed that "reciprocal" tariffs, archetypal announced successful April, volition instrumentality effect on Aug. 1 for countries that haven't struck a deal.
Trump added successful a abstracted announcement Sunday that an additional 10% tariff would beryllium charged to countries "aligning themselves with the anti-American policies of BRICS" without elaborating. His announcement came arsenic the BRICS bloc of processing countries gathered successful Rio de Janeiro, Brazil, for a two-day summit.
Earlier connected Sunday, Treasury Secretary Scott Bessent said that tariffs introduced successful April volition beryllium enforced starting August 1 for countries that haven't finalized an statement with the Trump administration. While Bessent dismissed the conception that August 1 represents a caller deadline, helium acknowledged that the caller day could let trading partners further clip to renegotiate tariff terms.
Japan's benchmark Nikkei 225 slipped 0.56% to adjacent astatine 39,587.68 portion the Topix declined 0.57% to adjacent astatine 2,811.72. South Korea's Kospi added 0.17% to extremity the trading time astatine 3,059.47 and the small-cap Kosdaq closed 0.34% higher astatine 778.46.
Australia's S&P/ASX 200 slid 0.16% to extremity the time astatine 8,589.3.
Hong Kong's Hang Seng index mislaid 0.61%, and mainland China's CSI 300 dipped 0.43% to 3,965.17.
The Reserve Bank of Australia kicks commencement its two-day meeting, wherever it is wide expected to chopped rates by 25 ground points to 3.60%.
U.S. banal futures fell aft Trump confirmed that tariffs are acceptable to spell into effect Aug. 1, not July 9. Dow Jones Industrial Average futures slid by 146 points, oregon 0.32%. S&P 500 futures and Nasdaq 100 futures dipped 0.39% and 0.42%, respectively.
Last Friday stateside, the 3 large averages closed higher. The S&P 500 and Dow Jones Industrial Average powered to caller highs and capped disconnected a winning week arsenic banking behemoths ushered successful a promising commencement to the third-quarter net season. The Nasdaq Composite added 0.33% to decorativeness astatine 18,342.94 and little than 2% beneath its all-time high.
— CNBC's Samantha Subin and Brian Evans contributed to this report.
Japan's existent wages autumn astatine fastest gait successful 20 months
Real wages successful Japan person fallen astatine the fastest gait successful 20 months.
Data from Japan's ministry of health, labour and welfare revealed that existent wages fell 2.9% successful May compared to the twelvemonth before. This was sharper than the revised 2% diminution successful April and marked its 5th consecutive period of decline.
The ministry's information shows that nominal wages person risen each period from December 2021.
—Lim Hui Jie
Private credit’s trillion-dollar roar is fueling warnings of a hidden fiscal contagion
Private recognition has swiftly emerged arsenic 1 of the hottest corners of planetary finance, and its accelerated emergence is prompting alarm bells.
It comes arsenic nary astonishment that manufacture observers are saying backstage recognition could go a locus of contagion successful the adjacent fiscal crisis, said Shihan Abeyguna, Morningstar's Southeast Asia managing director.
According to PitchBook data, the backstage indebtedness manufacture is sitting connected $566.8 cardinal worthy of funds acceptable for deployment— a historical level of adust powder.
Fund managers are incentivized to lend rapidly and enactment them to work, arsenic 1 cannot cod fees connected currency that is lying around, added Abeyguna.
"If this becomes reality, past managers whitethorn find themselves lowering lending standards successful a bid to lend much money, which leads to a higher default risk," helium told CNBC.
Read the afloat communicative here.
—Lee Ying Shan
Reserve Bank of Australia expected to chopped rates successful July meeting, accidental economists
The Reserve Bank of Australia kickstarted its two-day meeting, wherever it is wide expected to chopped rates by 25 ground points to 3.60%.
ANZ economists forecast that the RBA volition chopped its currency complaint by 25 ground points successful the July and August meetings fixed the "overall resilience" successful Australia's system and ongoing tightness successful the country's labour market.
Similarly, Commonwealth Bank of Australia sees a 25 ground points cut, and believes a 50 ground points simplification is not connected the array fixed the "less uncertain planetary environment" comparative to May.
—Lee Ying Shan
Trump says countries aligning with BRICS policies volition look further 10% tariff
U.S. President Donald Trump announced that an further 10% tariff volition beryllium charged to countries "aligning themselves with the anti-American policies of BRICS," without elaborating.
"Any Country aligning themselves with the Anti-American policies of BRICS, volition beryllium charged an ADDITIONAL 10% Tariff. There volition beryllium nary exceptions to this policy," Trump said successful a station connected Truth Social Sunday evening stateside.
Separately, Trump confirmed that the U.S. volition commencement delivering letters connected Monday, detailing country-specific tariff rates and immoderate agreements reached with assorted trading partners.
Read the afloat communicative here.
— Anniek Bao
Oil prices autumn aft OPEC+ agrees to larger-than-expected lipid accumulation hike
Oil prices fell aft 8 oil-producing nations of the OPEC+ confederation agreed implicit the play to summation their corporate crude production by 548,000 barrels per day, arsenic they continued to unwind a acceptable of voluntary proviso cuts.
This subset of the confederation — comprising heavyweight producers Russia and Saudi Arabia, alongside Algeria, Iraq, Kazakhstan, Kuwait, Oman and the United Arab Emirates — met digitally. They had been expected to summation their output by a smaller 411,000 barrels per day.
The U.S. West Texas Intermediate crude fell 1.91% to $65.72 per barrel, portion planetary benchmark Brent was down 1.17% to $67.50 per tube arsenic of 9.06 a.m. Singapore time.
If determination is nary reversal of these output hikes, "the signifier is set" for an lipid surplus, which volition resistance lipid prices adjacent further going into the extremity of the year, said Vishnu Varathan, Mizuho Securities' caput of macro research, Asia ex-Japan.
—Lee Ying Shan, Ruxandra Iordache
Asia-Pacific markets footwear disconnected Monday trading lower
Asia-Pacific markets kicked disconnected Monday trading lower. Japan's benchmark Nikkei 225 slipped 0.26% portion the Topix declined 0.18%. South Korea's Kospi fell 0.48% and the small-cap Kosdaq slipped 0.5%.
Australia's S&P/ASX 200 was level astatine the open.
—Lee Ying Shan
Good greeting from Singapore, present are the opening calls
Hello from Singapore!
Asia-Pacific banal markets are looking astatine a mixed trading Monday aft U.S. President Donald Trump confirmed that higher tariffs, archetypal announced connected April 2, volition take effect connected Aug. 1 for countries that person not struck a commercialized deal.
In April, Trump besides announced a 90-day intermission connected the steep tariffs, which is owed to expire connected Wednesday.
Australia's S&P/ASX 200 is acceptable to unfastened little with futures tied to the benchmark astatine 8,583 compared to its past adjacent of 8,603. Futures for Hong Kong's Hang Seng index stood astatine 23,899, little than its past adjacent of 23,916.06.
Japan's benchmark Nikkei 225 was acceptable to unfastened higher, with the futures declaration successful Chicago astatine 39,915 against the index's past adjacent of 39,810.88.
—Lee Ying Shan
Trump confirms that tariffs volition spell into effect Aug. 1
U.S. President Donald Trump stands adjacent to U.S. Secretary of Commerce Howard Lutnick, arsenic helium speaks to members of the media, upon his accomplishment astatine Morristown Airport, successful Morristown, New Jersey, connected July 6, 2025.
Nathan Howard | Reuters
U.S. President Donald Trump and high-ranking Cabinet officials confirmed that tariffs volition spell into effect Aug. 1, not July 9.
Trump and Commerce Secretary Howard Lutnick were asked successful an interrogation with excavation reporters Sunday to clarify erstwhile the caller higher tariffs rates volition beryllium implemented. Lutnick responded, "Tariffs spell into effect Aug. 1. But the president is mounting the rates, and the deals, close now." Trump assented with the statement.
Earlier successful the day, Treasury Secretary Scott Bessent said successful an interview connected CNN's "State of the Union" that tariffs announced backmost successful April volition spell into effect connected Aug. 1 for those countries that person yet to scope an statement with the U.S. He said duties volition "boomerang" backmost to higher April 2 levels if determination is nary progress.
As of Sunday, Trump's April 9 executive order which established the July 9 tariff implementation day did not look to person been formally revised. While the president has wide tariff powers, the April 9 bid would typically beryllium replaced with a caller bid establishing the Aug. 1 date.
The White House did not instantly reply to a question from CNBC astir whether the president planned to contented a caller enforcement bid earlier July 9.
— Sarah Min
English (US) ·