Asian stocks advanced on Wednesday on optimism that artificial intelligence (AI) will continue to drive profits at megacap technology companies reporting earnings this week, amid growing bets on a US Federal Reserve (Fed) interest-rate cut.
US President Donald Trump’s latest tariff salvo against Canada landed just as Mark Carney was setting out on a mission to insulate his country from the fallout of the trade war.
Japan and the US unveiled a list of potential projects for their US$550 billion (RM2.31 billion) US investment vehicle, providing a first look into what specific proposals could be funded by the mechanism that’s a key part of the two countries’ trade deal.
Malaysia’s new trade deal with the US keeps duty-free access for key sectors that make up about 12% of exports to the US, helping safeguard industries from rising US protectionism, the Federation of Malaysian Manufacturing (FMM) said.
Federal Reserve policymakers are widely expected to reduce U.S. short-term borrowing costs this week by a quarter of a percentage point for the second time this year as they look to prevent further slowing in the labor market.
The United States’ tariff rate on Malaysia remains at 19% with exemptions given to 1,711 tariff lines, says Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.