Global Stock Markets: Trump's threat has no effect on global markets

News Topical, Digital Desk : Asian stock markets have shown strength despite US President Donald Trump's threat to increase tariffs on India. However, this news is a cause of concern for India because Trump has accused India of profiteering by buying oil from Russia. Trump wrote on Truth Social that India is not only buying large quantities of oil from Russia, but is also selling much of it at a profit in the open market. They do not care how many people are dying in Ukraine. Therefore, I am going to increase tariffs on products coming from India on a large scale.

Situation of major Asian markets:
Index Level Change
S&P/ASX 200 (Australia) 8,757.90 +1.09%
Hang Seng (Hong Kong) 24,746.81 +0.05%
KOSPI (South Korea) 3,193.92 +1.47%
Nikkei 225 (Japan) 40,447.18 +0.39%
Shanghai Composite 3,588.81 +0.15%
NIFTY 50 (India) 24,722.75 UNCHANGED

Response of Indian Government
The Ministry of External Affairs termed Trump's statement as inappropriate and impractical and said that India will take all necessary steps to protect its national interest and economic security.

Mitsubishi gets $6.5 billion order from Australian Navy - Japan's Mitsubishi Heavy Industries got contract for 11 warships. Stocks gained 4%. This order was received leaving Germany's ThyssenKrupp behind.

Tremendous recovery on Wall Street - Dow Jones gained nearly 600 points. S&P 500 recorded its biggest one-day gain since May. Megacap tech stocks and Russell 2000 gained 2%. Earnings of S&P 500 companies rose 9.1% so far, which is much higher than the forecast of 3%.

Commodity and currency: Gold remains above $3,400. US dollar index below 99. Brent crude fell below $69 - OPEC+ announced to increase production by 5.48 lakh barrels per day.

Today's events: Quarterly results of AMD, Pfizer, Amgen will be released. US trade deficit and service PMI data will be released. If we talk about reports, opinions are quite different. UBS: If the Fed cuts rates in September, markets will get more support. SocGen: There is a risk of valuation bubble due to aggressive rate cuts. Principal AM: Along with returns, it is important to be cautious about policy uncertainty and slow growth.