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Trump Postpones Tariff Threat, Copper Prices Skyrocket, Gold Under Pressure, and Energy Stocks Take a Beating
TradingKey - U.S. President Donald Trump signed an executive order on July 7 (local time), extending the suspension period of the so-called "reciprocal tariffs," originally set to expire on July 9, until August 1. He also signaled openness to alternative proposals from other countries.
SSE Composite Index Breaks 3,500 — Hits New Year-to-Date High Amid A-Share Surge
On Wednesday, July 9, China’s A-share market staged a strong intraday rally, with all three major indexes climbing before retreating toward the close. The SSE Composite Index Index briefly broke above the 3,500-point threshold, peaking at 3,512, marking its highest level of 2025 so far.TradingKey
Wed, Jul 9
Merck to Acquire Verona for $10 Billion — A Major Move into Respiratory Care, Shares of VRNA Surge 20%
TradingKey - According to a report by the Financial Times, U.S. pharmaceutical giant Merck (MRK.US) is nearing a deal to acquire Verona Pharma (VRNA.US) for $10 billion, marking Merck’s largest biopharma acquisition since 2023. The acquisition will expand Merck’s presence in the respiratory disease
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Wed, Jul 9
Malaysia calls for stronger inter-ASEAN trade amid tariffs uncertainty
KUALA LUMPUR, July 9 (Reuters) - Malaysia's Prime Minister Anwar Ibrahim on Wednesday urged Southeast Asian countries to "act with purpose" and enhance trade among each other in the face of global uncertainty, as regional foreign ministers met amid renewed jitters over U.S. trade tariffs.Reuters
Wed, Jul 9
Hong Kong Stock Tied to Pop Star Jay Chou Soars 87% as Jay Chou Officially Joins the Chinese TikTok (Douyin) Platform
Hong Kong stock Star Plus Legend, which is tied to pop star Jay Chou, suddenly soared 86.88% on Wednesday.Jay Chou officially joined the Chinese TikTok (Douyin) platform today under the name "Zhou Tongxue", with his identity verified as a singer. A Douyin spokesperson confirmed that the account is ...Tiger News
Wed, Jul 9
INDIA STOCKS-Indian equity benchmarks muted as FMCG gains offset losses in IT stocks
July 9 (Reuters) - India's equity benchmarks were little changed on Wednesday as gains in fast-moving consumer goods stocks were offset by losses in IT stocks, while investors continued to remain on the sidelines amid uncertainty over U.S. tariffs.Reuters
Wed, Jul 9
China's factory-gate deflation worst in 2 years as trade war bites
China's June PPI shrinks 3.6%, lowest since July 2023June CPI +0.1% y/y vs -0.1% y/y in MayExports-oriented industries under price pressure, statistician saysOverall demand impulse remains weak, reinforces need for more stimulusTrump's trade war, China's prolonged property crisis undermi...Reuters
Wed, Jul 9
Hong Kong Stablecoin Stocks Whipsaw — Goldstream Investment Plunges Over 40% After Record Surge
Hong Kong Stablecoin Stocks saw sharp divergence on Wednesday, July 9, with Goldstream Investment (01328.HK) crashing more than 46% intraday to HK$6.70, following a meteoric 653% surge the previous day that briefly pushed the stock to HK$15, its highest level since 2016.
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Wed, Jul 9
Japan's Nikkei gives up early gains as chip-related heavyweights fall
By Junko Fujita TOKYO, July 9 (Reuters) - Japan's Nikkei share average surrendered early gains to trade flat on Wednesday, as investors sold chip-related heavyweights to book profits from a recent rally.The Nikkei .N225 was down 0.03% at 39,677.42 by the midday break, after rising 0.7% earlie...Reuters
Wed, Jul 9
WRAPUP 9-Trump says steep copper tariffs in store as he broadens his trade war
Trump announces 50% tariff on copper importsSays new tariffs coming for semiconductors, pharmaceuticalsPresident says talks with EU and China are going wellJapan, South Korea scramble to minimize tariff damageBy Andrea Shalal and Trevor Hunnicutt WASHINGTON/TOKYO, July 8 (Reuters) - U.S. Presiden...Reuters
Wed, Jul 9
CRO Token Soars 20% as Crypto.com Named Custodian for Truth Social’s Blue-Chip Crypto ETF
On Wednesday, July 9, Cronos (CRO) — the native token of Crypto.com — surged over 20%, briefly breaking above the $0.10 mark before settling at $0.0945, fueled by news that Crypto.com will serve as the exclusive custodian for the upcoming Truth Social Blue-Chip Crypto ETF.
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Wed, Jul 9
Trump says he is days from sending EU a tariff letter
WASHINGTON, July 8 (Reuters) - President Donald Trump said he is probably two days off from sending the European Union a letter disclosing the tariff rate on their exports to the U.S.Trump said during a Cabinet meeting at the White House that the EU had been treating the U.S. very nicely recently inReuters
Wed, Jul 9
Solar stocks down after Trump order seeks to end wind, solar energy subsidies
** Shares of solar companies fall after U.S. President Donald Trump on Monday directed federal agencies to strengthen provisions in the One Big Beautiful Bill Act that repeal or modify tax credits for solar and wind energy projects** SunRun RUN.O fall 11.4% and SolarEdge Technologies SEDG.O tumble ~Reuters
Wed, Jul 9
Trump says US tariffs on drugs, chips to come soon
WASHINGTON, July 8 (Reuters) - U.S. President Donald Trump told reporters at the White House on Tuesday that he will announce semiconductor tariffs as well as make a separate announcement on pharmaceuticals very soon, but gave no other details.Reuters
Wed, Jul 9
Trump says BRICS nations to get 10% tariff 'pretty soon'
Trump says BRICS aims to hurt US dollarBrazil's Lula pushes back against criticism of BRICS No date set for BRICS tariffBy Andrea Shalal and Ricardo Brito WASHINGTON/BRASILIA, July 8 (Reuters) - U.S. President Donald Trump said on Tuesday the U.S. would "pretty soon" charge a 10% tari...Reuters
Wed, Jul 9
Trump says pharmaceutical tariffs could reach 200%
By Andrea Shalal and Michael Erman WASHINGTON, July 8 (Reuters) - U.S. President Donald Trump on Tuesday said he plans to announce tariffs on imported pharmaceuticals which could reach 200% but he would give drugmakers about one year "to get their act together.""We're going to giv...Reuters
Wed, Jul 9
