WORLD

Asian shares are mixed as Trump’s tariff deadline looms, while US stocks set records

Jul 3, 2025, 9:30 PM | Updated: Jul 4, 2025, 12:20 am

MANILA, Philippines (AP) — Asian shares were mixed on Friday after U.S. stocks climbed further into record heights as the clock ticks on President Donald Trump’s July 9 tariff deadline.

Japan’s Nikkei 225 fell 0.6% to 39,762.20 after earlier gains, while South Korea’s KOSPI index was down 1.2% to 3,078.31.

Hong Kong’s Hang Seng index lost 0.6% to 23,914.44 while the Shanghai Composite index added 0.4% to 3,475.24. Australia’s S&P/ASX 200 rose 0.1% to 8,609.50. India’s Sensex index was up 0.1% to 83,288.73.

“Asian markets slipped into Friday like someone entering a dark alley with one eye over their shoulder — because while US equities danced higher on a sweet spotted post-payroll sugar rush, the mood in Asia was far less celebratory. The reason? That familiar, twitchy unease every time Trump gets near the tariff trigger,” Stephen Innes, managing partner at SPI Asset Management, wrote in a commentary.

On Thursday, after a report showed a U.S. job market stronger than Wall Street expected, the S&P 500 rose 0.8% and set an all-time high for the fourth time in five days. The Dow Jones Industrial Average added 344 points, or 0.8%, and the Nasdaq composite gained 1%.

Many of Trump’s stiff proposed taxes on imports are currently on pause, but they’re scheduled to kick in next week unless Trump reaches deals with other countries to lower them.

In other dealings on Friday, U.S. benchmark crude was down 19 cents to $68.81 per barrel. Brent crude, the international standard, shed 30 cents to $68.50 per barrel.

The U.S. dollar slid to 144.48 Japanese yen from 144.92 yen. The euro edged higher to $1.1771 from $1.1761.

___

AP Business Writer Stan Choe contributed.

World

FILE - Bottles of spirits are labeled with a star in Bilka in Randers, Denmark, making it easier fo...

Associated Press

US tariffs on European goods threaten to shake up the world’s largest 2-way trade relationship

FRANKFURT, Germany (AP) — America’s largest trade partner, the European Union, is among the entities awaiting word Monday on whether U.S. President Donald Trump will impose punishing tariffs on their goods, a move economists have warned would have repercussions for companies and consumers on both sides of the Atlantic. Trump imposed a 20% import tax […]

12 hours ago

FILE - Boxers Cesar Chavez Jr,, left, smiles towards his father Julio Cesar Chavez, Mexico's former...

Associated Press

In Sinaloa’s capital, news of a boxing scion’s arrest and allegations of cartel ties cause unease

CULIACAN, Mexico (AP) — Inside a sports arena in Sinaloa state’s capital, the crowd was sparse early on the card as young amateur boxers in puffy headgear threw punches and danced about the ring. Outside stood a bronze statue of Julio César Chávez in boxing trunks, one glove raised. The event Friday was organized by […]

1 day ago

FILE - People displaced by the fighting with M23 rebels make their way to the center of Goma, Democ...

Associated Press

UN experts say Rwanda supported rebels in Congo and smuggled minerals at ‘unprecedented levels’

DAKAR, Senegal (AP) — Rwanda provided “critical” support to the M23 rebels’ recent offensive in eastern Congo, which helped secure Kigali’s access to minerals and fertile ground, according to a confidential United Nations report seen by The Associated Press. The Rwanda-backed M23 rebel group is the most prominent armed group in the conflict in Eastern […]

2 days ago

Associated Press

Mexico President Sheinbaum hopes deported boxer Chávez Jr. will serve time in Mexico

MEXICO CITY (AP) — Mexico President Claudia Sheinbaum said Friday that Mexico hadn’t previously arrested boxer Julio César Chávez Jr. on a 2023 arrest order, because he had been mostly been in the United States since. Sheinbaum spoke a day after U.S. authorities announced the boxer’s arrest in California for overstaying his visa and lying […]

2 days ago

Associated Press

Asian shares are mixed as Trump’s tariff deadline looms, while US stocks set records

MANILA, Philippines (AP) — Asian shares were mixed on Friday after U.S. stocks climbed further into record heights as the clock ticks on President Donald Trump’s July 9 tariff deadline. Japan’s Nikkei 225 fell 0.6% to 39,762.20 after earlier gains, while South Korea’s KOSPI index was down 1.2% to 3,078.31. Hong Kong’s Hang Seng index […]

3 days ago

FILE - Palestinians carry boxes containing food and humanitarian aid packages delivered by the Gaza...

Associated Press

Organization denies AP report that US contractors at its Gaza food distribution sites used live ammo

JERUSALEM (AP) — The Gaza Humanitarian Foundation, an Israeli-backed American organization running a new aid program in Gaza, on Thursday denied a report by The Associated Press that American contractors guarding the foundation’s aid sites inside Gaza were using live ammunition and stun grenades as hungry Palestinians scrambled for food. AP’s story, released Wednesday, is […]

3 days ago

Asian shares are mixed as Trump’s tariff deadline looms, while US stocks set records