Asian Markets Steady Amid Political Turbulence and Tech Earnings
Asian shares and the yen remained stable despite political challenges in Japan, with attention on upcoming tech earnings. Investors await progress on U.S.-EU trade talks and potential Trump-Xi meetings. Japanese elections weakened the government, while the BOJ faces constraints on raising interest rates amid instability.
Asian shares and the yen maintained stability on Monday, despite political challenges in Japan, as Wall Street futures geared up for earnings from key tech giants. In Japan, elections proved detrimental for Prime Minister Shigeru Ishiba's government, weakening his hold on power but within expected limits.
Investors remain hopeful for progress on trade talks before President Donald Trump's tariff deadline, with U.S. Commerce Secretary Howard Lutnick optimistic about a deal with the EU. Reports suggest a potential meeting between Trump and China's Xi Jinping, possibly in October, while European Commission President Ursula von der Leyen plans to meet Xi this Thursday.
In market moves, Chinese blue chips firmed while European futures showed slight fluctuations. Tech giants, including Alphabet and Tesla, are set to report earnings, with high expectations for the aerospace and defense sectors. U.S. Treasury futures held steady amid discussions on interest rates, while gold and oil faced market pressures.
(With inputs from agencies.)
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