INVESTORS LOCK IN PROFITS BEFORE TARIFF DEADLINE

RECAP: Asian shares eased back yesterday, with Japanese markets retreating from a record peak, as investors locked in profits ahead of a crucial week that includes US President Donald Trump's tariff deadline.

- NUNTAWUN POLKUAMDEE NAREERAT WIRIYAPONG

Trading in Thailand was also subdued, as investors monitored the growing border conflict with Cambodia and waited for news on the trade and tariff front.

The SET index moved in a range of 1,191.65 and 1,227.71 points this week, before closing yesterday at 1,217.15, up 0.9% from the previous week, with daily turnover averaging 41.5 billion baht.

Foreign investors were net buyers of 9.07 billion baht. Retail investors were net sellers of 5.75 billion baht, followed by institutional investors a 3.28 billion, and brokerage firms at 42.1 million.

NEWSMAKERS:

President Donald Trump announced a “massive” trade deal with Japan that would include a 15% tariff on imports. Under the deal, Japan will invest $550 billion into the US, which Trump said would receive 90% of the profits.

■Trump also agreed to reduce threatened tariffs on the Philippines, but only by one percentage point to 19%, while Manila would open up completely to US goods, he said after meeting with counterpart Ferdinand Marcos at the White House.

■US Treasury Secretary Scott Bessent signalled a 90-day extension of the trade “truce” with China, saying he would meet his Chinese counterparts in Stockholm next week for tariff talks, paving the way for continued trade negotiations and keeping triple-digit tariffs on hold.

■The EU is preparing to impose counter-tariffs on $117 billion worth of American products, including aircraft, automobiles and bourbon whiskey, if trade talks fail and Washington proceeds with threats to impose 30% tariffs on EU imports starting Aug 1.

■The European Central Bank kept interest rates unchanged for the first time in more than a year as it looks for clarity on EU trade with the US. President Christine Lagarde said the bank was now in a “wait-and-see” mode, with inflation at the 2% goal and the economy performing in line with or better than expectations.