Asian stock markets and US futures rose on Friday as signs of possible trade talks between the US and China lifted risk sentiment, despite weak earnings from tech giants Apple and Amazon. The comments from China's commerce ministry suggested Beijing is open to negotiations, while US President Donald Trump's erratic tariff policies have sparked fears of a global economic downturn. Investors are cautious, with Microsoft and Meta Platforms' strong results earlier in the week providing some hope for the tech industry. Japan's Nikkei rose 1% on a weaker yen, while Taiwan stocks surged 2%. The US dollar is expected to strengthen ahead of non-farm payrolls data, which may show an increase in jobs last month.
https://www.brecorder.com/news/40360629/asian-stocks-rise-on-signs-of-easing-sino-us-trade-tensionsIndonesia's government has started drafting its National Adaptation Plan (NAP) to address climate change, with Deputy for Climate Change Mitigation Ary Sudijanto emphasizing the need for a comprehensive plan that includes an inventory of impacts, climate change projections, and preparation of adaptation measures. The plan aims to incorporate nature-based solutions in expanding carbon trade, as part of Indonesia's efforts to meet its commitments under the Paris Agreement.
https://en.antaranews.com/news/353733/climate-change-adaptation-plan-must-reach-grassroots-ministryExternal Affairs Minister Dr S Jaishankar emphasized the need to give voice to cultural traditions and harness technology responsibly to shape a more equitable global future. He stated that pluralism has been suppressed by colonialism and major power dominance, but innovation and technology can be leveraged to elevate diverse voices. Jaishankar stressed the importance of building a fairer international system through mindset changes, policy frameworks, and global practices.
https://www.firstpost.com/india/waves-2025-jaishankar-slams-colonialism-and-big-power-dominance-bats-for-pluralism-13885033.htmlThe US and Ukraine have signed a deal that will give the US preferential access to new Ukrainian mineral deals and fund investment in Ukraine's reconstruction. Ukraine has significant metal production, including alumina (1.3% of global output), coal (23.3 million tons in 2023), iron ore (33.7 million tons last year), lithium (500,000 metric tons), manganese (declined since 2020), and titanium (2.2% share in global output). The country also has uranium resources of 107,200 tons, but production has been volatile. Ukraine's steel plants are located in central and southern regions, producing 7.6 million tons in 2024.
https://www.ndtv.com/world-news/explained-ukraines-metals-production-resources-and-development-projects-8311474US Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko signed a deal in Washington on April 30, 2025, granting the US preferential access to new Ukrainian mineral deals and funding investment in Ukraine's reconstruction efforts.
https://www.thecitizen.co.tz/tanzania/news/international/us-says-minerals-deal-will-strengthen-trump-in-talks-with-russia-5025438US Secretary of State Mike Vance expressed hope that India will respond to the recent Islamist militant attack in Kashmir in a way that doesn't lead to a broader regional conflict, and also urged Pakistan to cooperate with India to hunt down militants operating on its territory. Vance's comments are significant as they mark the closest US government stance since the April 22 attack that killed 26 people, which has been linked to Pakistan by some US leaders, including President Donald Trump.
https://www.scmp.com/news/asia/south-asia/article/3308751/us-hopes-india-avoids-wider-conflict-pakistan-over-kashmir-attack-vance?module=top_story&pgtype=sectionRussian officials and state media reported that a meeting between Putin and Trump envoy Steve Witkoff showed Moscow and Washington building a "new structure of the world" together. The meeting occurred after Trump's contentious discussion with Ukrainian President Zelenskyy in February, where he rejected Ukraine joining NATO and stated Crimea would remain under Russian control. This aligns with Russia's long-held positions, suggesting Trump's administration shares Moscow's vision.
https://www.ocregister.com/2025/05/02/russia-ukraine-putin/China's Commerce Ministry said it is "evaluating" an offer from Washington to hold talks over Trump's tariffs. Japan's Ryosei Akazawa deepened trade discussions with US Treasury Secretary Scott Bessent in Washington, while Finance Minister Katsunobu Kato hinted at using Japan's $1 trillion holdings of US Treasuries as leverage in trade talks. The dollar index dipped 0.23% today, but is still poised for a 0.3% gain this week.
https://www.malaymail.com/news/money/2025/05/02/trade-talks-spark-dollar-retreat-aussie-and-yen-lead-currency-gains/175358The US is ending tariff exemptions on Chinese goods worth less than $800, effective Friday, which could significantly impact consumers' purchasing habits. The move, announced by President Donald Trump, will impose new tariffs of 145% on commercially shipped goods and 120% on items sent through the US Postal Service, increasing to $200 next month. This change is part of a growing trade war between the US and China, with Beijing retaliating with sweeping 125% levies on US imports. The move threatens to affect large Chinese firms like Shein and Temu, which are exploring restructuring plans due to the looming changes.
https://www.businesstimes.com.sg/international/global/us-end-shipping-loophole-chinese-goods-friday