What's Affecting Markets Today
Asia-Pacific Markets Mixed as US-China Trade Talks Begin in Stockholm
Asia-Pacific markets traded mixed on Monday as investors monitored the start of US-China trade negotiations in Stockholm. The talks, led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, are expected to result in an extension of the current trade truce. Bessent indicated the agenda would also cover sensitive issues, including China’s oil imports from Russia and Iran.
The meeting follows US President Donald Trump’s announcement of a new trade agreement with the European Union over the weekend. Trump had previously threatened 30% tariffs on imports from China, the US’s largest trading partner.
In regional equity highlights, Japan’s Advantest fell more than 10% in early trade, while Samsung Electronics gained following news of a $16.5 billion semiconductor supply deal with Tesla. Hong Kong’s CK Hutchison is reportedly seeking a Chinese strategic investor to join a BlackRock-led bid for its ports business.
Meanwhile, Indonesian equities extended their rally, with the Jakarta Composite Index up 1.34% to a nine-month high. Gains were led by utilities, financials, and real estate stocks.
ASX Stocks
ASX 200 8,697.5 (+0.35%)
ASX Edges Higher; WiseTech Slips on CEO Appointment
The Australian sharemarket traded higher on Monday afternoon, supported by strength in US equity futures following a US-EU trade agreement and signs of a continued tariff truce with China. The S&P/ASX 200 Index rose 25.1 points, or 0.3%, to 8692 at 2.10pm AEST, with healthcare and communication services leading sector gains. CSL advanced 1% and Telstra added 0.8%.
US futures rose after the US and EU agreed to impose 15% tariffs on most European exports, including autos, while Washington is reportedly extending its tariff ceasefire with China by three months.
Macquarie climbed 0.9% amid bargain hunting, though the broader financials sector posted only modest gains. Weakness in resources offset broader advances. Coal miners fell after a court overturned a 2022 Hunter Valley project approval—Whitehaven dropped 4.2% and Yancoal 2.5%. Boss Energy plunged 42.9% on production concerns at its Honeymoon project.
WiseTech eased 0.3% after appointing Zubin Appoo as CEO. Meanwhile, Helloworld Travel surged 14.8% on upgraded earnings guidance. Stealth Group jumped 13.9% on strong iPhone 17 accessory pre-sales.
Leaders
MFG – Magellan Financial (+4.94%)
RPL – Regal Partners Ltd (+4.48%)
GDG – Generation Development (+4.46%)
NEM – Newmont Corporation (+4.46%)
MYR – Myer Holdings Ltd (+4.07%)
Laggards
BOE – Boss Energy Ltd (-42.50%)
PLS – Pilbara Minerals Ltd (-11.56%)
LTR – Liontown Resources Ltd (-9.04%)
DYL – Deep Yellow Ltd (-8.36%)
VUL – Vulcan Energy Resources Ltd (-8.07%)
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