Japan's exports fell for the first time in eight months in May, data showed on Wednesday, indicating that sweeping US tariffs were threatening the country's fragile economic recovery.
China’s trade-in subsidy to boost sales of electric and fuel-efficient vehicles has been suspended in key cities across at least six provinces as funds run short and officials scrutinise the prevalence of "zero-mileage" used cars.
Asian stock markets were mixed on Wednesday, as Hong Kong led losses amid rising geopolitical tensions over possible U.S. involvement in the Israel-Iran conflict, while Japan’s Nikkei advanced to a four-month high on a weaker yen.
The nonpartisan U.S. Congressional Budget Office (CBO) released new projections Tuesday showing that President Donald Trump’s tax-cut and spending legislation would increase the federal deficit by $2.8 trillion over a decade, even after accounting for economic growth effects.
Federal Reserve officials met on Tuesday armed with new economic data that could give more weight to their concerns that Trump administration policies, or at least the intense uncertainty around them, will slow growth in the coming months.
Oil prices ticked up in early trading on Wednesday after ending the previous session up more than 4 per cent on worries that the Iran-Israel conflict could disrupt supplies.