SHARES RISE AS TRADE TENSIONS EASE SLIGHTLY

RECAP: Asian shares rose yesterday in line with a global relief rally as trade tensions cooled and US Federal Reserve officials indicated they would be open to cutting interest rates earlier than anticipated.

- NAREERAT WIRIYAPONG NUNTAWUN POLKUAMDEE

The SET index moved in a range of 1,127.46 and 1,161.03 points this week, before closing yesterday at 1,159.00, up 0.7% from the previous week, with daily turnover averaging 34.94 billion baht.

NEWSMAKERS: US President Donald Trump has signalled a potential U-turn in his trade war with China amid continued market volatility, saying the high tariffs on Chinese goods will “come down substantially, but it won't be zero”.

■China has warned it will hit back at countries that make trade deals with the US that hurt Beijing's interests. At the same time, however, it is reportedly studying suspending its 125% tariff on some US imports.

■Trump said he has “no intention of firing” Federal Reserve chairman Jerome Powell after repeatedly criticising the head of the central bank, but he added he would like Mr Powell to be “a little more active” on cutting interest rates.

■Fed governor Christopher Waller said he’d support rate cuts if aggressive tariff levels hurt the US jobs market. Cleveland Fed president Beth Hammack said a rate move could come as early as June if the Fed has clear evidence of the economy's direction.

■The Atlanta Fed now expects US first-quarter GDP to contract by 2.5% from the previous quarter, more than the 2.2% expected earlier.

■The US consumer sentiment index plummeted to a near-record low of 50.8 in April, down 6.2 points from the previous month.

■The International Monetary Fund revised down its 2025 world GDP growth outlook by half a percentage point from the previous forecast to 2.8%, citing the impact of trade and tariff uncertainty.

■Gold briefly touched $3,500 an ounce on Tuesday, as a weak dollar, Trump attacks on the Fed and trade war fears spurred safe-haven demand. Prices eased later but remained above $3,300 on Friday.