Most Asian stock markets fell on Tuesday, led by declines in Japan and Hong Kong, as investors turned cautious ahead of the approaching U.S. tariff deadline and braced for key central bank decisions from the Bank of Japan and the Federal Reserve.
President Trump’s One Big Beautiful Bill ends $7,500 tax credits for new electric vehicle purchases on September 30, along with $4,000 for used models, seven years earlier than planned by the Biden administration.
U.S. President Donald Trump on Monday again called on the Federal Reserve to cut interest rates, saying it would help propel the U.S. economy.
"I think he has to," Trump, speaking alongside British Prime Minister Keir Starmer following their meeting in Scotland, said of Federal Reserve Chair Jerome Powell on benchmark rates.
Source : Reuters
The U.S. central bank, to President Donald Trump's chagrin, will likely leave interest rates unchanged at a policy meeting this week, but that's not to say there won't be a vigorous debate, with one if not two Federal Reserve governors possibly casting a rare dissent in support of lower borrowing costs.
Oil prices were steady in Asian trading on Tuesday after sharp gains in the previous session, fueled by supply concerns following President Donald Trump’s announcement of a shortened deadline for Russia to end the war in Ukraine.
The automotive industry appears set for a more subdued second half of the year (2H25), on the back of persistent margin pressures, moderating demand and fierce price competition, analysts say.