South Korean auto stocks fall after Trump slashes duties to 15%
South Korean auto stocks plunged Thursday after U.S. President Donald Trump imposed a blanket 15% tariff on imports from the country including autos, which he had threatened with a 25% tariff earlier.
The Asian country’s Kia Corp was trading 5.25% lower, while Hyundai Motor fell 3.48% as of 10.53 a.m. local time (9.53 p.m. ET Wednesday).
— Amala Balakrishner
Chinese and Hong Kong stocks fall in early trade
Chinese and Hong Kong stocks started the day lower Thursday, following mixed trading in the other key Asia-Pacific markets.
As of 9.39 a.m. local time (9.39 p.m. ET Wednesday), the Hang Seng Index fell 0.91%, while mainland’s CSI 300 was flat.
— Amala Balakrishner
Samsung Electronics shares rise nearly 2% after second-quarter profit misses expectations
Shares of Samsung Electronics rose as much as 1.92% Thursday after its second-quarter operating profit missed expectations and came in at 4.7 trillion Korean won ($3.38 billion).
The South Korean memory chipmaker noted that it was hit by a slump in its chip business.
Read more here.
— Amala Balakrishner, Dylan Butts
Nissan shares surge nearly 5% following $530 million operating losses in first fiscal quarter
Shares of Nissan Motor surged as much as 4.9% Thursday, reversing course from losses in its previous two sessions.
This comes as the Japanese automaker reported operating losses of 79,124 million yen ($530.17 million) for its first fiscal quarter ended June, due to to lower sales volumes, adverse exchange rate movements and tariffs on its exports to the U.S.
Shares in Nissan
Asia-Pacific markets start the day mixed
Asia-Pacific markets opened mixed Thursday.
Japan’s Nikkei 225 benchmark moved up 0.21% while the broader Topix index ticked up 0.28%, as of 8.10 a.m. Singapore time (8.10 p.m. ET Wednesday).
In South Korea, the Kospi index fell 0.14% while the small-cap Kosdaq was flat.
Over in Australia, the S&P/ASX 200 benchmark fell 0.53%.
— Amala Balakrishner
Here are the opening calls for the day
Good morning from Singapore.
Investors will be keeping a close watch on South Korean markets after U.S. President Donald Trump announced a blanket tariff of 15% on the country’s exports to the U.S. Japanese markets will also be watched keenly as the Bank of Japan is expected to stand pat on short-term interest rates at 0.5% at the close of its two-day policy meeting later in the day.
Japan’s benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 40,855 while its counterpart in Osaka last traded at 40,730, against the index’s Wednesday close of 40,654.70.
Futures for Hong Kong’s Hang Seng index stood at 24,934, pointing to a weaker open compared with the last close of 25,176.93.
Australia’s S&P/ASX 200 was set to start the day lower with futures tied to the benchmark at 8,694, compared with its last close of 8,756.40.
— Amala Balakrishner
S&P 500 futures, Nasdaq 100 futures rise
S&P closes lower
The S&P 500 closed lower on Wednesday and gave up its gain from earlier in the session after Federal Reserve Chair Jerome Powell threw some cold water on the prospects of a September rate cut.
The broad market index lost 0.12% to close at 6,362.90. The Nasdaq Composite added 0.15% to 21,129.67, while the Dow Jones Industrial Average fell 171.71 points, or 0.38%, to finish the session at 44,461.28.
— Brian Evans
Tariff effects on inflation still need to be seen, Powell says
U.S. Federal Reserve Chair Jerome Powell gestures during a press conference following the issuance of the Federal Open Market Committee’s statement on interest rate policy in Washington, D.C., U.S., July 30, 2025.
Jonathan Ernst | Reuters
The Fed can keep the interest rate steady while waiting to see if tariff policy pushes up inflation, Powell said.
“Higher tariffs have begun to show through more clearly to prices of some goods, but their overall effects on economic activity and inflation remain to be seen,” Powell said.
Powell said a “reasonable base case” could be that effects to inflation will be “short lived.” But he also cautioned that levies could cause inflationary changes that are “more persistent.”
“Our obligation is to keep longer term … inflation expectations well anchored and to prevent a one-time increase in the price level from becoming an ongoing inflation problem,” Powell said.
“For the time being, we’re well positioned to learn more about the likely course of the economy and the evolving balance of risks before adjusting our policy stance,” he added. “We see our current policy stance as appropriate to guard against inflation risks.”
— Alex Harring
Divided Fed keeps rates unchanged
The Fed kept monetary policy unchanged, as was widely expected. However, two central bank officials — Christopher Waller and Michelle Bowman — dissented in the decision, pushing for the Fed to cut the overnight rate by 0.25 percentage point.
This was the first time since 1993 that the Fed’s policy decision was met with so much dissent.
— Fred Imbert
