🌅 Morning Update | 09.05.2025
📉 Markets steady amid trade anticipation
Asian indices show limited movement:
🇨🇳 China: -0.10% to +0.40%
🇦🇺 AUS200: +0.45% on strong 🇨🇳 export data
🇯🇵 JP225: +0.07%
🇸🇬 SG20: +0.95%
🤝 US–China trade talks kick off in 🇨🇭
High-level meetings begin today in Switzerland (May 9–12) — first in months.
🇨🇳 remains cautious, expectations stay low.
📦 China's April trade beats forecasts
📈 Exports: +8.1% y/y (vs. +1.9% forecast)
📉 Imports: -0.2% y/y (vs. -5.9% forecast)
🧾 Jan–Apr total trade: ¥14.14T (+2.4% y/y)
❗ But exports to 🇺🇸 dropped 21% y/y, showing tariff pressure.
🌀 "Origin washing" in focus
🇨🇳 Exporters shift goods through 🇻🇳 Vietnam to dodge tariffs.
Vice FM Hua: “China is not afraid of tariffs” — calls U.S. policy unsustainable.
💴 Japan's data mixed
📉 Real wages: -2.1% y/y (worst in 2 years)
🕒 Overtime pay: -1.1%
💵 Household spending: +2.1% y/y (vs. +0.2% est), +0.4% m/m
🛠️ Steel & aluminium tariffs stay
🇺🇸 Navarro confirms no rollback — industrials remain vulnerable.
💬 Bessent backs easing, but Trump decides
Tensions persist; tax hikes on top earners still planned.
💰 Bitcoin nears $104K
Driven by global liquidity & 🇺🇸 regulatory clarity.
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