Market Highlights 💡 - 15 April 2025

Global Markets Rise on Tariff Relief

🇺🇸 S&P 500 Index: 0.79% 📈

🇺🇸 Nasdaq Index: 0.64% 📈

🇪🇺 Stoxx 600 Index: 2.70% 📈

🇯🇵 Nikkei 225 Index: 1.18% 📈

🇭🇰 Hang Seng Index: 2.40% 📈

🇨🇳 CSI 300 Index: 0.23% 📈

🇸🇬 Straits Times Index: 1.04% 📈

• US stock markets closed higher, with the S&P 500 and Nasdaq Composite rising 0.8% and 0.6% respectively, driven by gains in tech and auto stocks, after President Trump announced a waiver on a new round of China tariffs for smartphones and other electronics, and hinted at a possible exemption on auto-related tariffs.

• Asia-Pacific markets mostly closed higher, with the Hang Seng Index and CSI 300 Index up 2.4% and 0.2% respectively, supported by gains in tech and financial stocks, following the US president's move to delay tariffs on some consumer electronics, boosting risk sentiment.

• In March, Chinese banks issued 3.64 trillion yuan ($500 billion) in new loans, exceeding expectations and signaling a rebound in credit growth as policymakers pledged stronger stimulus measures to support the Chinese economy amid intensifying US-China trade tensions.

Upcoming Events:

Wednesday: US and China will release core retail sales (MoM), China retail sales (YoY), industrial output (YoY), and GDP (YoY).

Thursday: US will publish the latest initial jobless claims data.

Friday: Japan will release core consumer price index.

Key Things to Know Today:

1. Nvidia $NVIDIA Corp(NVDA)$   plans to produce AI servers worth up to $500 billion in the US with partners like TSMC $Taiwan Semiconductor Manufacturing(TSM)$  and Foxconn $Foxconn Industrial Internet Co.,Ltd.(601138)$  , aiming to support domestic chip manufacturing and strengthen supply chain resilience amid rising tariffs.

Nvidia investment

2. Meta $Meta Platforms, Inc.(META)$   faces a major antitrust lawsuit filed by the US Federal Trade Commission (FTC), which seeks to break up its acquisitions of Instagram and WhatsApp due to monopoly concerns. Instagram currently contributes over half of Meta's US ad revenue.

Meta antitrust lawsuit 

3. LVMH's Q1 sales fell 3%, missing expectations, indicating a slowdown in the luxury sector amid economic uncertainty and the impact of new US tariffs. Sales of Louis Vuitton and Dior dropped 5%, as US consumers cut back on beauty spending, while performance in China remained weak.

LVMH

4. CATL's $Contemporary Amperex Technology Co.,Ltd.(300750)$   Q1 net profit surged 33% to $1.91 billion, the fastest growth in nearly two years, ending five consecutive quarters of declining revenue. It plans a $5 billion IPO in Hong Kong and is considering acquiring a controlling stake in NIO's energy business.

CATL

5. Moody's Analytics downgraded Malaysia's 2025 GDP forecast from 5% to 4.4% due to heightened global trade uncertainty, and lowered inflation expectations from 2% to 1.6%. Despite the US imposing tariffs up to 24% on Malaysian exports, Bank Negara Malaysia maintained its growth forecast at 4.5%–5.5%, noting the tariff impact has already been factored into its model.

Moody

Key Point:

The global tariff landscape remains unpredictable, and the uncertainty continues to undermine business confidence in planning.

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