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Asian markets were mixed Tuesday following the previous day’s global rally as traders keep a nervous eye on Donald Trump’s next moves after he signed off on 25 percent tariffs for steel and alumium imports, having warned of more measures to come.The president has lived up to his campaign pledges to resume his hardball trade diplomacy to extract concessions on a range of issues, including commerce, immigration and drug trafficking.However, while the moves have jolted sentiment, equities have held up since Trump took office — London and Frankfurt even hit record highs Monday — with analysts saying measures have so far been less severe than feared.Still, caution looms over trading floors as dealers brace for the next announcement out of the White House, with Maurice Obstfeld, senior fellow at the Peterson Institute for International Economics, saying “the degree of uncertainty about trade policy has basically exploded”.And Charu Chanana, chief investment strategist at Saxo Markets, said: “These expanding trade actions beyond previous threats to Canada, Mexico and China are leading to potential new import restrictions and retaliation, signalling more bouts of volatility for investors. “Tariffs are being used not just to tax imports but also as tools for national security, economic leverage, and revenue generation, indicating a shift towards long-term economic policy rather than short-term trade disputes.”All three main indexes started the week on the front foot thanks to a rally in tech firms.But Asia struggled to maintain its momentum from Monday, with Hong Kong flitting between gains and losses, while Shanghai, Singapore and Manila fell.Seoul, Sydney, Wellington and Taipei rose.The uncertainty fuelled by Trump’s moves has pushed safe haven gold ever-higher. On Monday, it broke above $2,900 for the first time. It extended gains Tuesday to hit a new peak above $2,938.Fears that Trump’s tariffs, along with tax cuts and deregulation, will reignite inflation and force the Federal Reserve to keep interest rates elevated have sent the dollar up against most of its peers.Readings on consumer and producer price indexes this week will provide a fresh snapshot of inflation, while Fed boss Jerome Powell is also due to give depositions to US lawmakers.Both will be pored over for an idea about the bank’s plans for rates, with forecasts for two cuts at most this year.- Key figures around 0220 GMT -Hong Kong – Hang Seng Index: FLAT to 21,513.37Shanghai – Composite: DOWN 0.3 percent to 3,313.01Tokyo – Nikkei 225: Closed for a holidayEuro/dollar: DOWN at $1.0300 from $1.0308 on MondayPound/dollar: DOWN at $1.2361 from $1.2364Dollar/yen: UP at 151.99 yen from 151.97 yenEuro/pound: DOWN at 83.33 from 83.35 penceWest Texas Intermediate: UP 0.1 percent at $72.37 per barrelBrent North Sea Crude: UP 0.1 percent at $75.98 per barrelNew York – Dow: UP 0.4 percent at 44,470.41 (close)London – FTSE 100: UP 0.8 percent at 8,767.80 (close)

Global stock markets rose on Monday, as traders largely shrugged off US President Donald Trump’s latest tariffs announcement on steel and aluminum.Trump is set to slap 25-percent tariffs on steel and aluminum imports, part of a broad and gradually unfolding series of White House actions to remake trade.Stocks tumbled last Monday following a weekend Trump tariff announcement. But this time, major US indices spent almost the entire session in positive territory following gains in most European and Asian markets.”It’s a healthier response to a weekend announcement about tariffs,” said Art Hogan of B. Riley Wealth, adding that the metals tariffs are similar to those Trump enacted in his first term as president.The tech-rich Nasdaq led major US indices, finishing up one percent.Stock markets being up this time around “could be a sign of tariff fatigue,” said Kathleen Brooks, research director at trading group XTB. Canada is the largest source of steel and aluminum imports to the United States, according to US trade data. Brazil, Mexico and South Korea are also major steel providers to the country.The US dollar rose against the Canadian dollar, Mexican peso and South Korean won on Monday.It also rose against the euro, pound and yen.The European Union said it had not received any official notification of extra tariffs from the United States, while Britain said it had not seen “any detailed proposals” but was “ready for all situations.”In equities trading, both London and Frankfurt set fresh records.Hong Kong and Shanghai stocks rose on Monday, even as hopes of a delay to Trump’s tariffs against China were dashed.Chinese tech firms extended gains, buoyed by the success of AI startup DeepSeek. Investor sentiment was boosted by a “mixture of trade restrictions not being as bad as they might have been and hope for further Chinese stimulus,” said Derren Nathan, senior equity analyst at Hargreaves Lansdown.Tokyo was flat, despite Trump’s threats to target Japanese goods should the US trade deficit with the country fail to equalise.Wall Street dropped on Friday after official data showed US consumers increasingly worried about inflation and in reaction to news that fewer American jobs than expected had been created last month.This week’s schedule includes a January consumer price report and congressional appearances by Federal Reserve Chair Jerome Powell. In company news on Monday, BP shares surged more than seven percent in London, following reports that a prominent activist fund had built a significant stake, aiming to turn around the struggling oil and gas major.McDonald’s jumped 4.8 percent despite reporting a dip in profits following a drop in US comparable store sales. But executives said they expect a full comeback in the US market by the start of the second quarter after a food poisoning outbreak in the western United States last autumn depressed sales.- Key figures around 2130 GMT -New York – Dow: UP 0.4 percent at 44,470.41 (close)New York – S&P 500: UP 0.7 percent at 6,066.44 (close)New York – Nasdaq: UP 1.0 percent at 19,714.27 (close)London – FTSE 100: UP 0.8 percent at 8,767.80 (close)Paris – CAC 40: UP 0.4 percent at 8,006.22 (close)Frankfurt – DAX: UP 0.6 percent at 21,911.74 (close)Tokyo – Nikkei 225: FLAT at 38,801.17 (close)Hong Kong – Hang Seng Index: UP 1.8 percent to 21,521.98 (close)Shanghai – Composite: UP 0.6 percent to 3,322.17 (close)Euro/dollar: DOWN at $1.0308 from $1.0328 on FridayPound/dollar: DOWN at $1.2364 from $1.2402Dollar/yen: UP at 151.97 yen from 151.41 yenEuro/pound: UP at 83.35 from 83.27 penceBrent North Sea Crude: UP 1.6 percent at $75.87 per barrelWest Texas Intermediate: UP 1.9 percent at $72.32 per barrelburs-jmb/sw

Global stock markets rose on Monday, as traders appeared to shrug off US President Donald Trump’s latest tariffs announcement surrounding levies on steel and aluminium. This was in contrast to a week ago when tariff announcements from Trump sent global equities tumbling.The fact that stock markets are up this time around “could be a sign of tariff fatigue”, said Kathleen Brooks, research director at trading group XTB. Trump warned over the weekend that every country would face unspecified “reciprocal” levies. Regarding steel and aluminium, the United States will move to impose tariffs as early as this week, Trump said.Canada is the largest source of steel and aluminium imports to the United States, according to US trade data. Brazil, Mexico and South Korea are also major steel providers to the country.The dollar rose against the Canadian dollar, Mexican peso and South Korean won on Monday.It also rose against the euro, pound and yen.The European Union said it had not received any official notification of extra tariffs from the United States while Britain said it had not seen “any detailed proposals” but was “ready for all situations”.In equities trading, both London and Frankfurt set fresh records.Hong Kong and Shanghai stocks rose on Monday, even as hopes of a delay to Trump’s tariffs against China were dashed.Chinese tech firms extended gains, buoyed by the success of AI startup DeepSeek. Investor sentiment was boosted by a “mixture of trade restrictions not being as bad as they might have been and hope for further Chinese stimulus”, said Derren Nathan, senior equity analyst at Hargreaves Lansdown.Tokyo was flat, despite Trump’s threats to target Japanese goods should the US trade deficit with the country fail to equalise.Wall Street’s main indices moved higher on Monday.Losses of more than one percent on Friday “presumably triggered the buy-the-dip crowd that is driving the action this morning”, said Briefing.com analyst Patrick O’Hare.”There seems to be a healthy allowance, too, for the expectation that the stock market will quickly bounce back from last week’s losses like it always has on its bull market jaunt to record highs,” he added.Wall Street dropped on Friday after official data showed US consumers increasingly worried about inflation and in reaction to news that fewer American jobs than expected had been created last month.But the readings did little to alter traders’ view that the Federal Reserve will cut interest rates two times at best this year.In company news on Monday, BP shares surged more than seven percent in London, following reports that a prominent activist fund had built a significant stake, aiming to turn around the struggling oil and gas major.In Tokyo, Nippon Steel briefly fell more than two percent, following a Trump announcement that the Japanese giant would make a major investment in US Steel, but will no longer attempt to take it over.US Steel shares dived 5.8 percent in New York on Friday, but rebounded around four percent on Monday.Gold also set yet another record, rising above $2,900 per ounce for the first time.”Tariff fears and inflation worries continue to burnish the safe-haven” interest in gold, said Chris Beauchamp, Chief Market Analyst at online trading platform IG.- Key figures around 1630 GMT -New York – Dow: UP 0.2 percent at 44,373.57 points New York – S&P 500: UP 0.6 percent at 6,061.52New York – Nasdaq: UP 1.1 percent at 19,739.14London – FTSE 100: UP 0.8 percent at 8,767.80 (close)Paris – CAC 40: UP 0.4 percent at 8,006.22 (close)Frankfurt – DAX: UP 0.6 percent at 21,911.74 (close)Tokyo – Nikkei 225: FLAT at 38,801.17 (close)Hong Kong – Hang Seng Index: UP 1.8 percent to 21,521.98 (close)Shanghai – Composite: UP 0.6 percent to 3,322.17 (close)Euro/dollar: DOWN at $1.0314 from $1.0328 on FridayPound/dollar: DOWN at $1.2388 from $1.2405Dollar/yen: UP at 151.65 yen from 151.43 yenEuro/pound: UP at 83.28 from 83.24 penceBrent North Sea Crude: UP 1.4 percent at $75.67 per barrelWest Texas Intermediate: UP 1.6 percent at $72.12 per barrelburs-rl/bc

Global stock markets rose Monday, as traders appeared to shrug off US President Donald Trump’s latest tariffs announcement surrounding levies on steel and aluminium. This was in contrast to a week ago when tariff announcements from Trump sent global equities tumbling.The fact that stock markets are up this time around “could be a sign of tariff fatigue,” said Kathleen Brooks, research director at trading group XTB. Trump warned over the weekend that every country would face unspecified “reciprocal” levies. Regarding steel and aluminium, the United States will move to impose tariffs as early as this week, Trump said.Canada is the largest source of steel and aluminium imports to the United States, according to US trade data. Brazil, Mexico and South Korea are also major steel providers to the country.The dollar rose against the Canadian dollar, Mexican peso and South Korean won on Monday.The European Union said it had not received any official notification of extra tariffs from the United States while Britain said it had not seen “any detailed proposals” but was “ready for all situations”.In equities trading, London led gains in Europe in afternoon trading.Hong Kong and Shanghai stocks rose Monday even as hopes of a delay to Trump’s tariffs against China were dashed.Chinese tech firms extended gains, buoyed by the success of AI startup DeepSeek. Investor sentiment was boosted by a “mixture of trade restrictions not being as bad as they might have been and hope for further Chinese stimulus”, said Derren Nathan, senior equity analyst at Hargreaves Lansdown.Tokyo was flat, despite Trump’s threats to target Japanese goods should the US trade deficit with the country fail to equalise.Wall Street’s main indices moved higher at the opening bell. Losses of more than one percent on Friday “presumably triggered the buy-the-dip crowd that is driving the action this morning”, said Briefing.com analyst Patrick O’Hare.”There seems to be a healthy allowance, too, for the expectation that the stock market will quickly bounce back from last week’s losses like it always has on its bull market jaunt to record highs,” he added.Wall Street dropped Friday after official data showed US consumers increasingly worried about inflation and in reaction to news that fewer American jobs than expected had been created last month.But the readings did little to alter traders’ view that the Federal Reserve will cut interest rates two times at best this year.In company news Monday, BP shares surged more than seven percent in London, following reports that a prominent activist fund had built a significant stake, aiming to turnaround the struggling oil and gas major.In Tokyo, Nippon Steel briefly fell more than two percent, following a Trump announcement that the Japanese giant would make a major investment in US Steel, but will no longer attempt to take it over.US Steel shares dived 5.8 percent in New York on Friday, but rebounded four percent on Monday as trading got underway.- Key figures around 1430 GMT -New York – Dow: UP 0.6 percent at 44,564.77 points New York – S&P 500: UP 0.5 percent at 6,057.55New York – Nasdaq: UP 0.7 percent at 19,668.84London – FTSE 100: UP 0.8 percent at 8,769.02Paris – CAC 40: UP 0.1 percent at 7,984.29Frankfurt – DAX: UP 0.5 percent at 21,889.34Tokyo – Nikkei 225: FLAT at 38,801.17 (close)Hong Kong – Hang Seng Index: UP 1.8 percent to 21,521.98 (close)Shanghai – Composite: UP 0.6 percent to 3,322.17 (close)Euro/dollar: DOWN at $1.0307 from $1.0328 on FridayPound/dollar: DOWN at $1.2372 from $1.2405Dollar/yen: UP at 151.76 yen from 151.43 yenEuro/pound: UP at 83.32 from 83.24 penceBrent North Sea Crude: UP 1.2 percent at $75.52 per barrelWest Texas Intermediate: UP 1.3 percent at $71.89 per barrelburs-rl/lth

European and Asian stock markets rose Monday, as traders appeared to shrug off US President Donald Trump’s latest tariffs announcement surrounding levies on steel and aluminium. This was in contrast to a week ago when tariff announcements from Trump sent global equities tumbling.”The fact that global equity indices are higher at the start of the week, could be a sign of tariff fatigue,” said Kathleen Brooks, research director at trading group XTB. Trump warned over the weekend that every country would face unspecified “reciprocal” levies. Regarding steel and aluminium, the United States will move to impose tariffs as early as this week, Trump said.Canada is the largest source of steel and aluminium imports to the United States, according to US trade data. Brazil, Mexico and South Korea are also major steel providers to the country.The dollar rose against the Canadian dollar, Mexican peso and South Korean won on Monday.In equities trading, London led gains in Europe approaching the half-way stage.It came as the European Union said it had not received any official notification of extra duties from the United States. Hong Kong and Shanghai stocks rose Monday even as hopes of a delay to Trump’s tariffs against China were dashed.Chinese tech firms extended gains, buoyed by the success of AI startup DeepSeek. Investor sentiment was boosted by a “mixture of trade restrictions not being as bad as they might have been and hope for further Chinese stimulus”, said Derren Nathan, senior equity analyst at Hargreaves Lansdown.Tokyo was flat, despite Trump’s threats to target Japanese goods should the US trade deficit with the country fail to equalise.Wall Street dropped Friday after official data showed US consumers increasingly worried about inflation and in reaction to news that fewer American jobs than expected had been created last month.The readings did little to alter traders’ view that the Federal Reserve will cut interest rates two times at best this year.In company news Monday, BP shares surged more than six percent in London, following reports that a prominent activist fund had built a significant stake, aiming to turnaround the struggling oil and gas major.In Tokyo, Nippon Steel briefly fell more than two percent, following a Trump announcement that the Japanese giant would make a major investment in US Steel, but will no longer attempt to take it over.US Steel dived 5.8 percent in New York on Friday.- Key figures around 1100 GMT -London – FTSE 100: UP 0.5 percent at 8,747.16 pointsParis – CAC 40: UP 0.2 percent at 7,992.17Frankfurt – DAX: UP 0.2 percent at 21,832.23Tokyo – Nikkei 225: FLAT at 38,801.17 (close)Hong Kong – Hang Seng Index: UP 1.8 percent to 21,521.98 (close)Shanghai – Composite: UP 0.6 percent to 3,322.17 (close)New York – Dow: DOWN 1.0 percent at 44,303.40 points (close)Euro/dollar: UP at $1.0335 from $1.0328 on FridayPound/dollar: UP at $1.2415 from $1.2405Dollar/yen: UP at 152.07 yen from 151.43 yenEuro/pound: FLAT at 83.24 penceBrent North Sea Crude: UP 1.3 percent at $75.64 per barrelWest Texas Intermediate: UP 1.3 percent at $71.95 per barrel

Equities were mostly down in Asia on Monday after Donald Trump ramped up his trade war by announcing huge tariffs on steel and aluminium imports and warned every country would face “reciprocal” levies.Another week got off to an uncertain start following losses on Wall Street that came in reaction to data showing US consumers increasingly worried about inflation and news that far fewer jobs than expected were created last month.The US president has resumed his hardball tactics on trade since returning to the White House by last week hitting China with a fresh batch of tariffs, having reached a deal to delay measures against Canada and Mexico.The moves have fanned concerns about the global economy and jolted a recent rally in markets.Trump said Sunday 25 percent duties would be imposed on “any steel coming into the United States”, adding this will also affect aluminium. He also said he would announce “reciprocal tariffs” to match his government’s levies to the rates charged by other countries on US products. “Every country will be reciprocal,” he warned, adding that he would provide details on Tuesday or Wednesday.Guo Jiakun, spokesman of China’s Ministry of Foreign Affairs, reiterated Beijing’s line Monday that “there is no winner in a trade war”, while French foreign minister Jean-Noel Barrot said the European Union will counter in kind to “replicate” any tariffs imposed on it by Washington.The news weighed on commodity-linked currencies, with the Canadian dollar, Mexican peso and South Korean won all weaker.Canada is the largest source of steel and aluminium imports to the United States, according to US trade data. Brazil, Mexico and South Korea are also major steel providers to the country.At a meeting with Prime Minister Shigeru Ishiba in Washington on Friday, Trump threatened to target Japanese goods if the US trade deficit with the country is not equalised.Equities struggled, with Sydney, Seoul, Manila, Bangkok, Mumbai, Jakarta, Wellington and Taipei all lower.- ‘It’s an escalation’ -“Trump’s latest move isn’t merely another trade skirmish; it’s an escalation of his ‘America First’ trade doctrine where ‘no country is off-limits’,” said Stephen Innes at SPI Asset Management.”This high-stakes gamble could disrupt global supply chains. Markets have witnessed this scenario before — last-minute exemptions and backroom deals (see: Mexico and Canada tariffs) — but if Trump maintains his hardline stance this time, Asian economies will be the first to feel the impact.”Still, Hong Kong and Shanghai extended last week’s gains, with Chinese tech firms boosted by the emergence of startup DeepSeek, which has shaken up the AI sector with a chatbot that it said rivalled those of US giants but at a fraction of the cost.There were also gains in Singapore, while Tokyo was marginally higher.London, Frakfurt and Paris rose at the open.All three main indexes in New York fell as the University of Michigan’s consumer survey showed a drop in consumer sentiment in February to 67.8, down from 71.1 in January.Another report showed respondents expect inflation to hit 4.3 percent a year from now, up a full percentage point from a month earlier.Separate data showed the world’s top economy created 143,000 jobs last month, down from a revised 307,000 in December and below forecasts.The readings did little to alter traders’ view that the Federal Reserve will cut interest rates two times at best this year, after boss Jerome Powell said after its January meeting that officials were in no “hurry” to move again.Among companies, Nippon Steel briefly fell more than two percent in Tokyo, following Trump’s Friday announcement that the Japanese giant would make a major investment in US Steel, but will no longer attempt to take it over. The firm pared its losses to end 0.5 percent lower. US Steel dived 5.8 percent in New York on Friday.- Key figures around 0810 GMT -Tokyo – Nikkei 225: FLAT at 38,801.17 (close)Hong Kong – Hang Seng Index: UP 1.8 percent to 21,521.98 (close)Shanghai – Composite: UP 0.6 percent to 3,322.17 (close)London – FTSE 100: UP 0.2 percent at 8,716.57Euro/dollar: DOWN at $1.0312 from $1.0328 on FridayPound/dollar: UP at $1.2406 from $1.2405Dollar/yen: UP at 152.17 yen from 151.43 yenEuro/pound: DOWN at 83.12 pence from 83.24 penceWest Texas Intermediate: UP 0.7 percent at $71.51 per barrelBrent North Sea Crude: UP 0.7 percent at $75.20 per barrelNew York – Dow: DOWN 1.0 percent at 44,303.40 points (close)

Equities were mixed in Asia on Monday after Donald Trump ramped up his trade war by announcing huge tariffs on steel and aluminium imports and warned every country would face “reciprocal” levies.Another week got off to an uncertain start following losses on Wall Street that came in reaction to data showing US consumers increasingly worried about inflation and news that far fewer jobs than expected were created last month.The US president has resumed his hardball tactics on trade since returning to the White House by last week hitting China with a fresh batch of tariffs, having reached a deal to delay measures against Canada and Mexico.The moves have fanned concerns about the global economy and jolted a recent rally in markets.Trump said Sunday 25 percent duties would be imposed on “any steel coming into the United States”, adding this will also affect aluminium. He also said he would announce “reciprocal tariffs” to match his government’s levies to the rates charged by other countries on US products. “Every country will be reciprocal,” he warned, adding that he would provide details on Tuesday or Wednesday.The news weighed on commodity-linked currencies, with the Canadian dollar, Mexican peso and South Korean won all weaker.Canada is the largest source of steel and aluminium imports to the United States, according to US trade data. Brazil, Mexico and South Korea are also major steel providers to the country.At a meeting with Prime Minister Shigeru Ishiba in Washington on Friday, Trump threatened to target Japanese goods if the US trade deficit with the country is not equalised.Equity markets were mixed, with Tokyo, Sydney, Seoul, Jakarta, Wellington and Taipei all lower.- ‘It’s an escalation’ -“Trump’s latest move isn’t merely another trade skirmish; it’s an escalation of his ‘America First’ trade doctrine where ‘no country is off-limits’,” said Stephen Innes at SPI Asset Management.”This high-stakes gamble could disrupt global supply chains. Markets have witnessed this scenario before — last-minute exemptions and backroom deals (see: Mexico and Canada tariffs) — but if Trump maintains his hardline stance this time, Asian economies will be the first to feel the impact.”Still, Hong Kong and Shanghai extended last week’s gains, with Chinese tech firms boosted by the emergence of startup DeepSeek, which has shaken up the AI sector with a chatbot that it said rivalled those of US giants but at a fraction of the cost.There were also gains in Singapore and Manila.All three main indexes in New York fell as the University of Michigan’s consumer survey showed a drop in consumer sentiment in February to 67.8, down from 71.1 in January.In another concerning development, respondents said they expect inflation to hit 4.3 percent a year from now, up a full percentage point from a month earlier.Separate data showed the world’s top economy created 143,000 jobs last month, down from a revised 307,000 in December and below forecasts.The readings did little to alter traders’ view that the Federal Reserve will cut interest rates two times at best this year, after boss Jerome Powell said after its January meeting that officials were in no “hurry” to move again.Among companies, Nippon Steel fell more than two percent in Tokyo, following Trump’s Friday announcement that the Japanese giant would make a major investment in US Steel, but will no longer attempt to take it over.US Steel dived 5.8 percent in New York on Friday.- Key figures around 0230 GMT -Tokyo – Nikkei 225: DOWN 0.1 percent to 38,746.96 (break)Hong Kong – Hang Seng Index: UP 1.2 percent to 21,391.17Shanghai – Composite: UP 0.3 percent to 3,314.25Euro/dollar: DOWN at $1.0304 from $1.0328 on FridayPound/dollar: DOWN at $1.2386 from $1.2405Dollar/yen: UP at 152.00 yen from 151.43 yenEuro/pound: DOWN at 83.19 pence from 83.24 penceWest Texas Intermediate: UP 0.7 percent at $71.50 per barrelBrent North Sea Crude: UP 0.7 percent at $75.19 per barrelNew York – Dow: DOWN 1.0 percent at 44,303.40 points (close)London – FTSE 100: DOWN 0.3 percent at 8,700.53 (close)

Inflation picked up in China last month, official figures showed Sunday, as the Lunar New Year holiday boosted January spending.China has struggled to raise consumption and stave off deflation for months as sluggish spending, a property slump and ballooning local government debt all weigh on growth.The consumer price index (CPI), a key measure of inflation, rose 0.5 percent last month, up from a 0.1 percent rise in November, according to the National Bureau of Statistics.The reading from January, which coincided with the start of the long Lunar New Year holiday this year, is the highest since August’s reading of 0.6 percent.Last month’s reading exceeded the 0.4 percent rise predicted by Bloomberg analysts.The NBS reported a rise in prices for goods associated with the holiday, where millions of people travel to their hometowns and celebrate with feasts and drinking.Fresh vegetable prices rose by 2.4 percent year-on-year and the price of pork rose by 13.8 percent.The boost in prices last month is “mainly due to higher food prices and tourism-related services prices on an earlier-than-usual Lunar New Year holiday,” Goldman Sachs analyst Xinquan Chen wrote in a note on Sunday.”But the boost is likely to become a drag in February as seasonal demand fades,” Chen said.China suffered its sharpest fall in prices for 14 years in January 2024, at the end of a four-month period of deflation.Inflation stayed below 0.5 percent for nine months of 2024.While deflation suggests the cost of goods is falling, it poses a threat to the broader economy as consumers tend to postpone purchases under such conditions, hoping for further reductions.A lack of demand can then force companies to cut production, freeze hiring or lay off workers, while potentially also having to discount existing stocks — dampening profitability even as costs remain the same.Beijing unveiled a slew of measures to boost the economy last year, including cutting interest rates and cancelling restrictions on homebuying.Last month, policymakers expanded a subsidy scheme for common household items, from water purifiers to laptops and electric vehicles.During the holiday period, sales of household appliances and communication equipment at “key monitored retail enterprises” were up more than 10 percent year-on-year, the Chinese commerce ministry said on Thursday.

From the United States to Thailand, users of the popular Sony PlayStation consoles might encounter “difficulties,” the Japanese group said Saturday, as game players around the world expressed their frustration.”You might have difficulty launching games, apps or network features,” Sony said on its status page. “We’re working to resolve the issue as soon as possible. Thank you for your patience.”PlayStation’s online services allow users of Sony consoles like the PS4 or the PS5 to play hugely popular multiplayer games like “Fortnite” and “Call of Duty.” The specialized site DownDetector.com reports that users’ difficulties peaked sharply around 7:00 pm Friday (00H00 GMT Saturday), before falling steadily but not quite returning to normal levels. Users took to social media to express their anger and frustration. One user said on X that it was “criminal” to have a PlayStation outage on a Friday evening, but another quipped more equably that it was time for him to reintroduce himself to the woman he married five years ago. 

US President Donald Trump said Friday that Japan’s Nippon Steel will make a major investment in US Steel, but will no longer attempt to take over the troubled company.Trump, referring to the Japanese car company Nissan but apparently meaning Nippon Steel, said “they’ll be looking at an investment rather than a purchase.”Spokespeople for Nippon Steel and US Steel did not respond to a request for comment. US Steel’s shares closed down 5.8 percent on the news.The announcement marks a shift in tone from Trump, who heavily criticized Nippon’s $14.9 billion takeover offer during the 2024 presidential election campaign. Former US president Joe Biden blocked the deal shortly before he left office last month on national security grounds, sparking a joint lawsuit from the two firms — and condemnation from Japanese Prime Minister Shigeru Ishiba.In the suit filed on January 6, Nippon Steel and US Steel said Biden had improperly used his influence and blocked the deal “for purely political reasons” to gain favor with workers’ unions.In response, the US authorities announced they had extended the deadline for the Japanese firm to abandon its acquisition of US Steel until June 18, extending an initial 30-day deadline.Trump’s remarks suggest his administration is open to Nippon Steel’s investment in the US steel giant so long as it does not assume overall control — a step that could in theory ensure it remains in American hands. “Our concerns regarding Nippon’s continued interest in US Steel remain unchanged,” United Steelworkers international president David McCall said in a statement. “Nippon has proven itself to be a serial trade cheater with a history of dumping its products into our markets,” he said, adding that the US steelworkers’ union had not been in contact with either company or the Trump administration about Nippon’s proposed investment.  “While we await the details of the proposed investment, we encourage President Trump to continue safeguarding the long-term future of the domestic steel industry by instead seeking American alternatives,” he added.