Asian markets mostly rose Wednesday with a broadly upbeat tone across trading floors ahead of major meetings at the European and US central banks, while there is also a growing sense of optimism over <a href="https://www.wionews.com/world/china-us-trade-talks-to-restart-after-g20-tariff-truce-239483">China-US trade talks</a>.

News that <a href="https://www.wionews.com/india-news/i-asked-nsa-john-bolton-to-resign-tweets-us-president-donald-trump-248901">Donald Trump</a> had fired his fervently hawkish national security adviser also lifted sentiment with analysts saying it could see the White House take a less strident approach and ease geopolitical tensions.

With the global economy sputtering, attention has turned increasingly to central banks as investors look for more stimulus.

Watch Vidoe:&nbsp;US President Donald Trump fires NSA John Bolton

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="http://13.235.153.162/videos/us-president-donald-trump-fires-nsa-john-bolton-248930/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

On Thursday the European Central Bank holds one of its most anticipated gatherings and hopes are for a series of fresh measures including a possible interest rate cut, fresh bond-buying quantitative easing (QE) or other loosening tools.

That is followed by the Federal Reserve's board meeting next week, where it is tipped to announce another reduction in borrowing costs as the world's top economy which has so far been the strongest globally stutters.

"With the expectation of the resumption of quantitative easing by the ECB&nbsp;and a rate cut by the Federal Reserve next week, the risk environment has solidified and tempted investors out of hiding from the bond markets and back into equities," said Jeffrey Halley, senior market analyst at OANDA.

In the afternoon trade, Hong Kong climbed 1.6 per cent as investors made the most of the upbeat mood to pick up cheap stocks after months of sometimes violent protests in the city weighed on the stock market.

Tokyo finished one per cent higher, Singapore put on more than one per cent, Seoul rose 0.8 per cent, Sydney gained 0.4 per cent and Taipei added 0.3 per cent, while Manila, Mumbai, Bangkok, and Jakarta also posted gains.

However, Shanghai was fell 0.4 per cent, with little major reaction to the news that China had listed 16 US categories of goods it would exempt from tariffs, ahead of planned top-level trade talks next month. Dealers also appeared to brush off Beijing's decision on Tuesday to lift limits on foreign investment in the country.

Wellington tumbled almost two per cent as Prime Minister Jacinda Ardern's government was rocked by its handling of sexual assault allegations against a top Labour Party staffer.

In early trade London rose 0.5 per cent, Frankfurt jumped 0.6 per cent and Paris edged up 0.3 per cent.

Trump's decision to sack John Bolton as a leading security adviser raised the possibility of an easing of tensions between the US and several nations, particularly Iran.

The controversial <a href="https://www.wionews.com/world/us-security-adviser-john-bolton-to-urge-tougher-uk-stance-on-iran-and-china-242307">Bolton</a> was closely linked to the invasion of Iraq and other past aggressive US foreign policy decisions and was seen as one of the main driving forces in Trump's muscular approach to Tehran, North Korea, and Venezuela, among others.

Stephen Innes at AxiTrader said that while the move did not necessarily mean a huge change in policy direction, "it does eliminate the most vocal advocate for US military-enforced regime change in the Trump administration".

He added that "from a geopolitical risk perspective, it does lessen war risk premiums, especially in Syria, Venezuela, and Iran and opens the door to more friendly discussion with North Korea".

However, the possibility of dialling down in the stand-off between the US and Iran led to a plunge Tuesday in the price of oil, with WTI diving almost three per cent from an intraday high and Brent shedding 2.5 per cent.

The two contracts later clawed back some of the losses on bargain-buying expectations for more output cuts by leading producers led by Saudi Arabia.

In share trading companies linked to Apple enjoyed healthy buying after the US tech giant unveiled new iPhones, including a lower-priced offering, and set launch dates for its original video offering as well as its game subscription service.

In Tokyo, Alps Alpine surged three per cent, Japan Display put on nearly three per cent and Sharp rallied more than four per cent, while LG Display in Seoul was up two per cent in Seoul. Taipei-listed Foxconn rose by 0.2 per cent.

On forex markets, the positive vibe helped the dollar up against the safe-haven yen, while higher-yielding, riskier currencies edged up against the greenback.

The pound held its recent gains as Prime Minister Boris Johnson said he was pushing to strike a divorce agreement with the European Union, having lost a series of key votes to MPs opposed to a no-deal Brexit.

Asian markets mostly rose Wednesday with a broadly upbeat tone across trading floors ahead of major meetings at the European and US central banks, while there is also a growing sense of optimism over China-US trade talks.

Asian markets mostly rose Wednesday with a broadly upbeat tone across trading floors ahead of major meetings at the European and US central banks, while there is also a growing sense of optimism over China-US trade talks. News that Donald Trump had fired his fervently hawkish national security adviser also lifted sentiment with analysts saying it could see the White House take a less strident approach and ease geopolitical tensions. With the global economy sputtering, attention has turned increasingly to central banks as investors look for more stimulus. Watch Vidoe: US President Donald Trump fires NSA John Bolton × On Thursday the European Central Bank holds one of its most anticipated gatherings and hopes are for a series of fresh measures including a possible interest rate cut, fresh bond-buying quantitative easing (QE) or other loosening tools. That is followed by the Federal Reserve's board meeting next week, where it is tipped to announce another reduction in borrowing costs as the world's top economy which has so far been the strongest globally stutters. "With the expectation of the resumption of quantitative easing by the ECB and a rate cut by the Federal Reserve next week, the risk environment has solidified and tempted investors out of hiding from the bond markets and back into equities," said Jeffrey Halley, senior market analyst at OANDA. In the afternoon trade, Hong Kong climbed 1.6 per cent as investors made the most of the upbeat mood to pick up cheap stocks after months of sometimes violent protests in the city weighed on the stock market. Tokyo finished one per cent higher, Singapore put on more than one per cent, Seoul rose 0.8 per cent, Sydney gained 0.4 per cent and Taipei added 0.3 per cent, while Manila, Mumbai, Bangkok, and Jakarta also posted gains. However, Shanghai was fell 0.4 per cent, with little major reaction to the news that China had listed 16 US categories of goods it would exempt from tariffs, ahead of planned top-level trade talks next month. Dealers also appeared to brush off Beijing's decision on Tuesday to lift limits on foreign investment in the country. Wellington tumbled almost two per cent as Prime Minister Jacinda Ardern's government was rocked by its handling of sexual assault allegations against a top Labour Party staffer. In early trade London rose 0.5 per cent, Frankfurt jumped 0.6 per cent and Paris edged up 0.3 per cent. Trump's decision to sack John Bolton as a leading security adviser raised the possibility of an easing of tensions between the US and several nations, particularly Iran. The controversial Bolton was closely linked to the invasion of Iraq and other past aggressive US foreign policy decisions and was seen as one of the main driving forces in Trump's muscular approach to Tehran, North Korea, and Venezuela, among others. Stephen Innes at AxiTrader said that while the move did not necessarily mean a huge change in policy direction, "it does eliminate the most vocal advocate for US military-enforced regime change in the Trump administration". He added that "from a geopolitical risk perspective, it does lessen war risk premiums, especially in Syria, Venezuela, and Iran and opens the door to more friendly discussion with North Korea". However, the possibility of dialling down in the stand-off between the US and Iran led to a plunge Tuesday in the price of oil, with WTI diving almost three per cent from an intraday high and Brent shedding 2.5 per cent. The two contracts later clawed back some of the losses on bargain-buying expectations for more output cuts by leading producers led by Saudi Arabia. In share trading companies linked to Apple enjoyed healthy buying after the US tech giant unveiled new iPhones, including a lower-priced offering, and set launch dates for its original video offering as well as its game subscription service. In Tokyo, Alps Alpine surged three per cent, Japan Display put on nearly three per cent and Sharp rallied more than four per cent, while LG Display in Seoul was up two per cent in Seoul. Taipei-listed Foxconn rose by 0.2 per cent. On forex markets, the positive vibe helped the dollar up against the safe-haven yen, while higher-yielding, riskier currencies edged up against the greenback. The pound held its recent gains as Prime Minister Boris Johnson said he was pushing to strike a divorce agreement with the European Union, having lost a series of key votes to MPs opposed to a no-deal Brexit.

Asian markets extend gains over optimism on China-US trade talks

The US wants India to eliminate trade barriers for American companies and remove restrictions with regard to data localisation to cut the cost of doing business, visiting US Commerce Secretary Wilbur Ross said on Tuesday.

Speaking at US govt backed business event "Indo-Pacific Trade winds", Wilbur Ross Said, “today India is only the America's 13th largest market due to overly restrictive market access barriers. The US is India's largest export market, that is a real imbalance"

India's average applied tariff rate is 13% with a tariff on auto at 60%, bikes at 50% &amp; Alcohol at 100%.&nbsp;

Calling it "unjustified", Ross said, "US businesses face significant market access barriers in India. These include both tariff and non-tariff barriers, &nbsp;as well as multiple practises and regulations that disadvantage foreign companies."

But assured US companies that Washington is "working diligently&nbsp;with Indian govt" on market access, he explained, "goal is to eliminate barrier" for US companies including on data localization, that "weakens data security and increases the cost of doing business".

Ross who is on a two day India visit raised the matter with Prime Minister Narendra Modi&nbsp;and&nbsp;Commerce minister Suresh Prabhu during a bilateral meet.

Bilateral trade last year between India and the US stood at $142 billion, up to $16 billion from 2017. US exports of goods to India increased by 7.4 billion, to 33% but imports increased by 12% to 54 billion, representing trade deficit of $ 21 billion for the US, something that is irking trump administration.

India has been trying to reduce its trade deficit with the US. India is importing $4.5 billion worth of US crude and natural gas. Indian private airlines have placed orders for around 300 Boeing aircraft to be delivered over the next 5 to 7 years that are worth around $ 39 billion and will create 130,000 American jobs.

Ross though reaffirmed India US ties and said "Make America Great Again (MAGA)" needs to be rephrased to MAGWIC (Make America Great Again With Indian Corporations).

He also emphasised on New Delhi's important role in Indo-Pacific. He said, "Indo-Pacific is strategically and economically significant... India is key to the administration approach to Indo-Pacific".

The US wants India to eliminate trade barriers for American companies and remove restrictions with regard to data localisation to cut the cost of doing business, visiting US Commerce Secretary Wilbur Ross said on Tuesday.

The US wants India to eliminate trade barriers for American companies and remove restrictions with regard to data localisation to cut the cost of doing business, visiting US Commerce Secretary Wilbur Ross said on Tuesday. Speaking at US govt backed business event "Indo-Pacific Trade winds", Wilbur Ross Said, “today India is only the America's 13th largest market due to overly restrictive market access barriers. The US is India's largest export market, that is a real imbalance" India's average applied tariff rate is 13% with a tariff on auto at 60%, bikes at 50% & Alcohol at 100%. Calling it "unjustified", Ross said, "US businesses face significant market access barriers in India. These include both tariff and non-tariff barriers, as well as multiple practises and regulations that disadvantage foreign companies." But assured US companies that Washington is "working diligently with Indian govt" on market access, he explained, "goal is to eliminate barrier" for US companies including on data localization, that "weakens data security and increases the cost of doing business". Ross who is on a two day India visit raised the matter with Prime Minister Narendra Modi and Commerce minister Suresh Prabhu during a bilateral meet. Bilateral trade last year between India and the US stood at $142 billion, up to $16 billion from 2017. US exports of goods to India increased by 7.4 billion, to 33% but imports increased by 12% to 54 billion, representing trade deficit of $ 21 billion for the US, something that is irking trump administration. India has been trying to reduce its trade deficit with the US. India is importing $4.5 billion worth of US crude and natural gas. Indian private airlines have placed orders for around 300 Boeing aircraft to be delivered over the next 5 to 7 years that are worth around $ 39 billion and will create 130,000 American jobs. Ross though reaffirmed India US ties and said "Make America Great Again (MAGA)" needs to be rephrased to MAGWIC (Make America Great Again With Indian Corporations). He also emphasised on New Delhi's important role in Indo-Pacific. He said, "Indo-Pacific is strategically and economically significant... India is key to the administration approach to Indo-Pacific".

India's tariff rate is 'unjustified': US commerce secretary Wilbur Ross

The US unemployment rate fell to its lowest level&nbsp;in 18 years&nbsp;in May, the Labor Department reported&nbsp;Friday, showing the world's biggest economy remains robust even as President Donald Trump's aggressive trade policies have stoked fears of an all-out trade war.

The jobless rate fell to 3.8 per cent from 3.9 per cent in the prior month, the lowest level since April 2000.

The last time the rate was lower than 3.8 per cent was December 1969.

With a shortage of workers reported throughout the country and across many industries and skill levels, the latest data confirmed wages are rising.

The economy added 223,000 non-farm jobs last month, stronger than the consensus forecast of economists, and better than the increase of 159,000 in April.

And the jobless rate for African American workers dropped sharply in the month to 5.9 per cent from 6.6 per cent, the lowest since the government began keeping records in 1972.

President Donald Trump has been touting that figure as a major accomplishment of his economic policies.

"We have reached yet one more historic milestone with 3.8 per cent unemployment just announced, and another all-time record low African-American unemployment," Trump said at an event shortly after the data were released.

At an event later&nbsp;Friday&nbsp;he continued to tout the strong results.

"We have such a great country right now," he said. "We have some of the best economic numbers we've ever had as a nation and that goes a long way. And we're building something very special."

But many economists and businesses have warned that jobs and economic growth could be victims of Trump's confrontational trade policies which includes steep tariffs on steel and aluminium that have hit key alli

Trump broke with protocol by tweeting about the report an hour before release time, hinting the figures would be positive.

"Looking forward to seeing the employment numbers at&nbsp;8:30&nbsp;this morning," he said on Twitter.

The data are kept strictly confidential and subject to tight security to prevent early release since investors worldwide are waiting to trade on the information.&nbsp;

The report is given to the White House a day in advance, although officials never hint at the contents.

A government rule prevents officials from commenting on sensitive data reports until one hour after release, something Trump administration officials have ignored on various occasions.

Markets did not appear to react to the tweet ahead of release time but were delighted afterwards.&nbsp;

US stocks surged after the opening bell, and mostly continued upward, with the tech-rich Nasdaq closing up 1.5 per cent, while the Dow gained 0.9 per cent.

With robust hiring continuing -- well beyond the monthly average of 179,000 for the past three months -- employers have been reporting the need to increase salaries and benefits to attract workers and keep them from being poached by competitors.

The report shows average hourly earnings rose 0.3 per cent last month to $26.92, which is 2.7 per cent higher than a year ago.

And the pace of hiring is shrinking the pool of available workers -- defined as those working or actively looking for work -- and that was the main driver behind the lower unemployment rate.&nbsp;

With wage gains finally above the Federal Reserve's two per cent inflation target, the central bank will be watching carefully to see if rising salaries translate into accelerating price increases.

However, the Fed signalled clearly that it is willing to tolerate inflation slightly above two per cent for a short period.

The central bank is widely expected to raise the benchmark lending rate at its meeting later in June, the second increase of three or four expected this year.

Hiring was strong across multiple sectors, although there was a slowdown in manufacturing -- contrary to Trump's repeated claims that the industry is adding workers due to last year's tax cuts and his trade policies, which include steep tariffs on aluminium and steel.

The manufacturing sector added 18,000 workers, the least since September 2017, retailers added 31,000, while health care rose 29,000 and construction 25,000.

Ben Herzon of IHS Markit said the labour market "is tightening rapidly" -- meaning the jobless rate is likely to fall further.

"Nearly all aspects of this report were positive and consistent with the solid growth of wage-and-salary income in the second quarter," Herzon said.

The jobless rate fell to 3.8 per cent from 3.9 per cent in the prior month, the lowest level since April 2000

The US unemployment rate fell to its lowest level in 18 years in May, the Labor Department reported Friday, showing the world's biggest economy remains robust even as President Donald Trump's aggressive trade policies have stoked fears of an all-out trade war. The jobless rate fell to 3.8 per cent from 3.9 per cent in the prior month, the lowest level since April 2000. The last time the rate was lower than 3.8 per cent was December 1969. With a shortage of workers reported throughout the country and across many industries and skill levels, the latest data confirmed wages are rising. The economy added 223,000 non-farm jobs last month, stronger than the consensus forecast of economists, and better than the increase of 159,000 in April. And the jobless rate for African American workers dropped sharply in the month to 5.9 per cent from 6.6 per cent, the lowest since the government began keeping records in 1972. President Donald Trump has been touting that figure as a major accomplishment of his economic policies. "We have reached yet one more historic milestone with 3.8 per cent unemployment just announced, and another all-time record low African-American unemployment," Trump said at an event shortly after the data were released. At an event later Friday he continued to tout the strong results. "We have such a great country right now," he said. "We have some of the best economic numbers we've ever had as a nation and that goes a long way. And we're building something very special." But many economists and businesses have warned that jobs and economic growth could be victims of Trump's confrontational trade policies which includes steep tariffs on steel and aluminium that have hit key alli Trump broke with protocol by tweeting about the report an hour before release time, hinting the figures would be positive. "Looking forward to seeing the employment numbers at 8:30 this morning," he said on Twitter. The data are kept strictly confidential and subject to tight security to prevent early release since investors worldwide are waiting to trade on the information. The report is given to the White House a day in advance, although officials never hint at the contents. A government rule prevents officials from commenting on sensitive data reports until one hour after release, something Trump administration officials have ignored on various occasions. Markets did not appear to react to the tweet ahead of release time but were delighted afterwards. US stocks surged after the opening bell, and mostly continued upward, with the tech-rich Nasdaq closing up 1.5 per cent, while the Dow gained 0.9 per cent. With robust hiring continuing -- well beyond the monthly average of 179,000 for the past three months -- employers have been reporting the need to increase salaries and benefits to attract workers and keep them from being poached by competitors. The report shows average hourly earnings rose 0.3 per cent last month to $26.92, which is 2.7 per cent higher than a year ago. And the pace of hiring is shrinking the pool of available workers -- defined as those working or actively looking for work -- and that was the main driver behind the lower unemployment rate. With wage gains finally above the Federal Reserve's two per cent inflation target, the central bank will be watching carefully to see if rising salaries translate into accelerating price increases. However, the Fed signalled clearly that it is willing to tolerate inflation slightly above two per cent for a short period. The central bank is widely expected to raise the benchmark lending rate at its meeting later in June, the second increase of three or four expected this year. Hiring was strong across multiple sectors, although there was a slowdown in manufacturing -- contrary to Trump's repeated claims that the industry is adding workers due to last year's tax cuts and his trade policies, which include steep tariffs on aluminium and steel. The manufacturing sector added 18,000 workers, the least since September 2017, retailers added 31,000, while health care rose 29,000 and construction 25,000. Ben Herzon of IHS Markit said the labour market "is tightening rapidly" -- meaning the jobless rate is likely to fall further. "Nearly all aspects of this report were positive and consistent with the solid growth of wage-and-salary income in the second quarter," Herzon said.

US unemployment falls to 3.8% in May, lowest in 18 years

tariff-rates

Tariff Rates, News on Tariff Rates, stories on Tariff Rates, articles on Tariff Rates, Tariff Rates stories at Wion, Tariff Rates news, Tariff Rates latest news

tariff rates

Asian markets extend gains over optimism on China-US trade talks

India's tariff rate is 'unjustified': US commerce secretary Wilbur Ross

US unemployment falls to 3.8% in May, lowest in 18 years