Asian stocks jump on trade deal hopes, Tokyo hit by tariff warning

A steep reduction in United States funding for overseas humanitarian programmes could result in more than 14 million additional deaths by 2030, including 4.5 million children under the age of five, according to research published on Monday in The Lancet medical journal.

German retail sales unexpectedly fell by 1.6% in May compared with the previous month, statistics office data showed on Monday, dampening hopes for strong growth in the second quarter for Europe`s economic powerhouse.

Canada announced Sunday it will withdraw its Digital Services Tax (DST) targeting US tech giants, aiming to revive trade negotiations with Washington after US President Donald Trump halted discussions in response to the levy.

US Billionaire entrepreneur Elon Musk has sharply criticized the latest version of a tax and spending bill released by the U.S. Senate, calling the proposal “utterly insane and destructive.” The Tesla and SpaceX CEO warned that the legislation could deal a severe blow to the U.S. economy and its long-term competitiveness.

The Group of Seven (G7) nations has agreed to a deal that would exempt American multinational corporations from a global minimum tax, marking a significant policy win for the Trump administration, which had strongly advocated for the exception.

U.S. President Donald Trump wants a pay raise for troops, more high-tech missiles and drones in next year`s defense budget, while cutting Navy jobs, and buying fewer ships and fighter jets to save money, according to budget materials posted Wednesday.

Global stock markets declined on Thursday, pressured by lingering geopolitical concerns and renewed uncertainty over U.S. monetary policy. Oil prices edged higher for a second consecutive session, while the U.S. dollar weakened following fresh comments from President Donald Trump about replacing Federal Reserve Chair Jerome Powell—a signal that investors interpreted as a possible shift toward more aggressive interest rate cuts.

Stocks extended their broad rebound on Wednesday after Iran and Israel agreed to halt hostilities, ending 12 tense days in the Middle East and easing fears of a wider regional conflict. The truce, brokered by Washington, followed U.S. strikes that, according to President Donald Trump, “completely destroyed” Iranian nuclear sites.

Oil prices hit their lowest in two weeks on Tuesday after Israel agreed to U.S. President Donald Trump`s proposal for a ceasefire with Iran, alleviating worries of supply disruptions in the Middle East - a major oil-producing region.

Gold prices dropped to their lowest level in nearly two weeks on Tuesday, following U.S. President Donald Trump’s announcement that Israel and Iran had agreed to a ceasefire—signaling a potential de-escalation in tensions and reducing demand for safe-haven assets.

U.S. Secretary of State Marco Rubio has called on China to prevent Iran from closing the strategic Strait of Hormuz, warning that any disruption to the vital oil shipping route could have global economic consequences.

Oil prices are expected to surge as global markets react to a dramatic escalation in the conflict between the United States and Iran. The Trump administration’s decision to authorize airstrikes on Iranian nuclear facilities over the weekend has heightened fears that the long-running tensions between Israel and Iran could spiral into a broader war, with serious implications for global energy markets.

President Donald Trump faced a fierce backlash from parts of his Maga movement over his decision to launch strikes against Iran, with critics saying he had been manoeuvred into a new Middle East war by Israel.

Russia, the United States, and Saudi Arabia could potentially coordinate efforts to stabilize global oil markets if necessary, according to Kirill Dmitriev, head of Russia’s sovereign wealth fund and the country’s investment envoy.

U.S. President Donald Trump has approved military strike plans targeting Iran, though he has yet to make a final decision on whether to move forward, according to a CBS News report citing a senior intelligence source.

Global markets traded cautiously on Wednesday as escalating Middle East hostilities and uncertainty ahead of the Federal Reserve`s monetary policy decision later in the day prompted investors to hold back on fresh stock market and currency bets.