Global stocks excited as Trump exempts smartphone tariffs

Nikkei 225 index opens in green

Japan's Nikkei 225 opened up 1.82% while the broader Topix index rose 1.77%. In South Korea, the Kospi also rose 1.29%, while the small-cap Kosdaq rose 1.22%. In Australia, the S&P/ASX 200 also rose 0.72%.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6%, after falling more than 4% last week.

While Hong Kong's Hang Seng Index futures opened at 21,059, up from last Friday's close of 20,914.69.

US stock futures also rose in Asian trading on Monday morning. S&P 500 futures rose 0.8%, while Nasdaq futures rose 1.25%.

Analysts say the excitement may stem from Mr Trump's tariff exemptions on smartphones and some electronics.

Under guidance issued late Friday by U.S. Customs and Border Protection, Mr. Trump exempted smartphones and computers as well as other equipment and components such as semiconductors from his new reciprocal tariffs.

In addition, many countries are also planning to negotiate trade with the US this week. Specifically, the Trump administration is participating in negotiations with countries including Vietnam, India, South Korea and Japan..., Politico newspaper gradually quoted two sources close to the White House said.

Meanwhile, according to local broadcaster NHK, Japan's top trade representative - Economic Revitalization Minister Akazawa Ryosei is expected to visit the US this week for talks with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer.

But analysts cautioned against the risks, as Trump and Commerce Secretary Howard Lutnick suggested on Sunday that the exemptions were not permanent. In a Truth Social post, Trump said the products would still be “subject to the current 20% Fentanyl Tariff and they are just moving to a different ‘group’ of tariffs.”

In fact, the tariff exemptions on 20 products, which account for 23% of US imports from China, are a boon for manufacturers. But the on-again, off-again policy changes have left investors confused and analysts pessimistic about the long term.

“The backing down after Liberation Day has some people breathing a sigh of relief. But not us,” said Bruce Kasman, chief economist at JPMorgan.

“A 10% general tariff is still a huge shock, and a massive 145% tariff on China is too high,” he added. “You can’t stop trade between the world’s two largest economies and not expect damage everywhere. We maintain our forecast of a 60% chance of a US/global recession.”

Source: https://thoibaonganhang.vn/chung-khoan-toan-cau-hung-khoi-vi-ong-trump-mien-thue-voi-smartphone-162714.html