US:S&P500:S&P 500: -0.07% to 6,225.52
US:USDGT:Dow Jones Industrial Average: -0.37% to 44,240.76
US:QQQ:Nasdaq Composite: +0.03% to 20,418.46
HK:3115.HK:Hang Seng Index
The HK:3115.HK:Hang Seng Index surged 260 points by market close, led by tech stocks amid excitement around the stablecoin concept.
Markets remain volatile as Trump’s trade agenda intensifies. Investors brace for potential impacts across sectors and await the Fed’s insights on policy direction.
US:QQQ:Nasdaq Composite
U.S. stock futures saw little change Tuesday night as investors monitored President Donald Trump’s latest tariff decisions. Futures linked to the US:USDGT:Dow Jones Industrial Average rose 16 points (0.04%), US:S&P500:S&P 500 gained 0.05%, and US:QQQ:Nasdaq Composite ticked up 0.1%.
During Tuesday’s regular session, the US:S&P500:S&P 500 dipped 0.07%, while the US:QQQ:Nasdaq Composite rose 0.03%. The US:USDGT:Dow Jones Industrial Average dropped nearly 0.4%.
Globally, indices like Japan’s Nikkei 225, South Korea’s Kospi, and Europe’s Stoxx 600 advanced modestly following Trump’s new 25–40% tariffs on 14 countries, set to begin Aug. 1. Trump also announced a 50% copper import tariff and threatened up to 200% tariffs on pharmaceuticals, with a delayed enforcement timeline of up to 18 months.
The National Retail Federation warned that Trump’s tariffs have created widespread uncertainty, complicating outlooks for growth and inflation. Evercore ISI also cautioned that consumers will likely bear part of the cost burden, particularly affecting smaller retailers.
Bank of America noted the tariffs are not yet finalized, leaving room for negotiations. Deutsche Bank suggested that only a major macroeconomic shock—beyond policy control—could trigger a prolonged summer sell-off.
SGX:S27.SI:S&P 500
Markets wavered amid the unclear policy trajectory, with experts noting continued volatility ahead. Investors await clarity from Wednesday’s Federal Reserve minutes.
HK:3115.HK:Hang Seng Index
The Hong Kong Monetary Authority (HKMA) enhanced the offshore RMB bond repo business, allowing rehypothecation during the repo period and enabling multi-currency settlement.
UBS noted that the U.S. delay of new tariffs to August 1 may soften the impact on the Christmas shopping season.
Southeast Asia expressed intent to accelerate trade talks with the U.S.
The Thai cabinet deferred the legalization of casinos.
Macau’s inbound tourist numbers surpassed 20 million for the year, hitting the milestone 26 days earlier than last year.
US:USDGT:Dow Jones Industrial Average
President Donald Trump reaffirmed that U.S. reciprocal tariffs will begin on August 1, 2025, dismissing any possibility of extensions. Despite earlier flexibility hints, Trump posted a firm statement on Truth Social: “All money will be due and payable starting August 1, 2025 – No extensions will be granted.” Markets appeared unfazed, with the SGX:S27.SI:S&P 500 hovering around 6,200.
Malaysia’s central bank faces rate cut pressure after the U.S. raised tariffs to 25%, with economists split on the outcome. Exports, growth outlook, and inflation uncertainty dominate the pre-decision landscape.
US:AMZN:Amazon
Amazon founder Jeff Bezos sold nearly 3 million shares worth $665.8 million in early July. This follows a $736.7 million stock sale in late June, all part of a planned sell-off through May 2026. Bezos, still Amazon’s largest shareholder, retains over 900 million shares valued at nearly $200 billion.
US:NVDA:Nvidia
While US:NVDA:Nvidia rose 1% and neared a $4 trillion market cap, financials weighed on markets. US:JPM:JPMorgan and US:BAC:Bank of America both fell 3%, and US:GS:Goldman Sachs slipped nearly 2% following a cautious outlook from HSBC on big banks.
US:JPM:JPMorgan
US:BAC:Bank of America
US:GS:Goldman Sachs
US:PNC:PNC Financial
Raymond James expressed optimism for regional banks, citing stable credit trends and upgraded US:PNC:PNC Financial and US:TFC:Truist Financial to outperform ahead of earnings season.
US:TFC:Truist Financial
Raymond James expressed optimism for regional banks, citing stable credit trends and upgraded US:PNC:PNC Financial and US:TFC:Truist Financial to outperform ahead of earnings season.
US:SHAK:Shake Shack
US:SHAK:Shake Shack was downgraded to hold from buy by Loop Capital. Despite a 7.4% year-to-date gain, the firm cited valuation concerns and recent weak earnings. The target price remains $127.
US:DDOG:Datadog
US:DDOG:Datadog was downgraded to sell by Guggenheim over concerns that its top client, OpenAI, is shifting to internal infrastructure. The move could pose a risk to second-half revenues, with a projected 31% downside.
US:FCX:Freeport-McMoRan
Copper futures posted their best day since 1989, surging 13% to $5.6855 per pound after Trump announced a 50% tariff on imports. US:FCX:Freeport-McMoRan, a major copper miner, gained over 5%.
Commerce Secretary Howard Lutnick confirmed the investigation into copper imports was complete, with formal implementation expected by end-July. Copper is now set to join steel and aluminum under steep U.S. import duties.
US:TSLA:Tesla
Tension flared between Elon Musk and Wedbush analyst Dan Ives after Ives proposed a Tesla governance plan with oversight and attendance conditions. Musk curtly responded, “Shut up, Dan.”
HK:1137.HK:HK Tech Venture
HK:1137.HK:HK Tech Venture reported a 1.2% year-on-year dip in total GMV on Order Intake for the first half of 2025, reaching HKD4.183 billion. Average daily GMV decreased slightly by 0.9% to HKD23.1 million.
HK:1211.HK:BYD Company
HK:1211.HK:BYD Company marked the delivery of its 90,000th new energy vehicle in Thailand during a ceremony celebrating the one-year anniversary of its Rayong plant. The milestone vehicle was a Denza D9.
HK:0012.HK:Henderson Land
HK:0012.HK:Henderson Land plans to issue HKD-denominated guaranteed convertible bonds via its indirect wholly owned subsidiary, Happy Ever Holdings Limited. These bonds are for professional investors only and won’t be offered publicly.
HK:2662.HK:Q Tech
HK:2662.HK:Q Tech announced a 1.5% year-on-year increase in sales of mobile phone camera modules for June 2025.
HK:0883.HK:CNOOC
HK:0883.HK:CNOOC appointed Zhang Chuanjiang as its new chairman, as announced on July 8, 2025.
HK:6613.HK:Lens
HK:6613.HK:Lens debuted at HKD18.20 in the gray market, marking a 0.1% gain on its IPO launch.
HK:0823.HK:Link REIT
HK:0823.HK:Link REIT was named Morgan Stanley’s top pick, expected to benefit from retail recovery in Hong Kong and potential inclusion in the Stock Connect program.
HK:1031.HK:Goldstream Investment
HK:1031.HK:Goldstream Investment shares soared 6.5x after signing a memorandum with AnchorX to jointly launch an offshore RMB stablecoin called AxCNH.
SGX:U14.SI:UOL Group
SGX:U14.SI:UOL Group, via its unit UOL Treasury Services, priced its US$225 million notes due 2032 at 2.78% under its US$2 billion MTN programme. Proceeds will fund refinancing, working capital, and capex.
SGX:O08.SI:Ossia International
SGX:O08.SI:Ossia International’s privatisation offer deadline has been extended to August 1 by the Goh brothers, who secured only 87.32% acceptance—below the 90% threshold required for delisting.
SGX:IREIT.SI:IREIT Global
SGX:IREIT.SI:IREIT Global signed two new leases in Spain, boosting occupancy in its Spanish portfolio from 77% to 83%. The leases total 5,200 sqm, with one tenant expanding its data centre space and another securing a full floor for seven years.
SGX:A34.SI:Amara Holdings
SGX:A34.SI:Amara Holdings received approval from the Singapore Exchange to delist following DRC Investments’ successful offer of 89.5 cents per share and over 90% acceptances.
SGX:G07.SI:Great Eastern Holdings
SGX:G07.SI:Great Eastern Holdings (GEH) may resume trading with restored public float. SGX:O39.SI:OCBC, which owns 93.72% of GEH, opted to receive non-voting shares to help meet SGX’s 10% free float requirement. GEH’s market cap is approximately $12.1 billion.
US:NVDA:Nvidia
Trump’s administration reportedly plans to restrict AI chip shipments from US:NVDA:Nvidia to Malaysia and Thailand to curb suspected diversions to China. This adds uncertainty to ASEAN’s growing data centre industry.
SGX:AJBU.SI:Keppel DC REIT
The proposed U.S. AI chip export restrictions could impact ASEAN’s data centre ecosystem. Potential losers include KL:5347.KL:Gamuda, KL:5263.KL:Sunway Construction, KL:3336.KL:IJM, and KL:5347.KL:Tenaga Nasional. SGX:AJBU.SI:Keppel DC REIT may benefit due to its Singapore asset focus.
KL:5347.KL:Tenaga Nasional
KL:3336.KL:IJM
KL:5263.KL:Sunway Construction
KL:5347.KL:Gamuda
SGX:Z74.SI:Singtel
SGX:Z74.SI:Singtel, in partnership with Lendlease, broke ground on its new $3 billion AI-enabled Comcentre. Slated for 2028 completion, the carbon-neutral project includes office towers, lifestyle amenities, and advanced connectivity via 5G+.
SGX:NTT.SI:NTT DC REIT
SGX:NTT.SI:NTT DC REIT launches its IPO, the first on SGX since 2021. With a projected yield of 7.5%-7.8%, its $1.57 billion portfolio spans the U.S., Singapore, and Europe. Major tenants include a top EV company and global tech giants.
US:XDIV:S&P 500 No Dividend ETF
Roundhill Investments is launching US:XDIV:S&P 500 No Dividend ETF, which skips dividends to reduce investor tax liabilities. By rotating holdings pre-ex-dividend, the ETF avoids payouts while tracking the index, aiming at tax-aware investors.
Oil:UCO.NYSE:Oil
Russia’s crude production missed its June OPEC+ target, outputting 9.022 million barrels per day—28,000 below quota. Compliance has improved amid scrutiny from fellow member Saudi Arabia.
KL:1562.KL:Binastra Corp Bhd
KL:1562.KL:Binastra Corp Bhd has clinched a RM405 million construction contract from Exsim Jalil Link Sdn Bhd for the “Queenswoodz” residential project in Bukit Jalil. The job includes two residential blocks with 1,004 units and associated facilities. The project, a related party transaction, will take 41 months from commencement.
KL:5218.KL:Sapura Energy Bhd
KL:5218.KL:Sapura Energy Bhd will hold an EGM on July 30 to seek shareholder approval for its regularisation plan to exit PN17 status. Approved by Bursa Malaysia, the plan involves capital reduction, debt restructuring, fundraising, and a 20-to-1 share consolidation to stabilise share price and improve financials.
KL:5315.KL:SkyWorld Development Bhd
KL:5315.KL:SkyWorld Development Bhd is acquiring 25.9 acres of land in Batu Kawan, Penang for RM48.51 million to kickstart its Rumah Bakat Baru Madani (RBB) affordable housing project. The RM13 billion development is in collaboration with Penang Development Corporation (PDC) and PDC Properties.
KL:5932.KL:Bina Puri Holdings Bhd
KL:5932.KL:Bina Puri Holdings Bhd has disclosed that two of its subsidiaries have been served winding-up petitions by Malaysia’s Inland Revenue Board. The tax debts amount to RM849,499 and RM4.2 million respectively. This marks the fifth winding-up petition against the group in 2025 alone.
KL:2488.KL:Alliance Bank Malaysia Bhd
KL:2488.KL:Alliance Bank Malaysia Bhd announced that its rights issue was oversubscribed by 55.1%, receiving applications for 282.47 million shares versus 182.12 million offered. Priced at RM3.33, the rights issue will raise RM606.49 million to fund working capital and investments.
KL:5139.KL:AEON Credit Service (M) Bhd
KL:5139.KL:AEON Credit Service (M) Bhd reported a 27.1% drop in 1QFY2026 net profit to RM77.55 million due to higher impairment losses. However, revenue rose 14.9% to RM599.92 million. No dividends were declared for the quarter.
KL:5047.KL:NPC Resources Bhd
KL:5047.KL:NPC Resources Bhd will be delisted on July 11 following the successful privatisation bid by managing director Datuk Loo Pang Kee and his firm Jubilant Ventures Sdn Bhd, at RM2.82 per share. The offer covered the remaining 43.44% stake valued at approximately RM143 million.
KL:6742.KL:YTL Power International Bhd
KL:6742.KL:YTL Power International Bhd has invested approximately RM10 billion in AI infrastructure, including data centres, GPU chips, and a large language model. Executive Director Yeoh Keong Hann highlighted partnerships with US:NVDA:Nvidia, deployment of GB200 Blackwell chips, and expansion to 600 megawatts of operational capacity.
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