Asian Markets Edge Up as Nvidia Hits $4 Trillion Amid Trump’s New Tariffs

July 10, 2025: Asian equities posted modest gains on Thursday, supported by Nvidia’s historic rise to a $4 trillion market valuation, even as markets remained steady in the face of new US trade measures. The artificial intelligence chipmaker became the world’s first company to reach a $4 trillion market value, with Japan’s chip supplier Disco surging 4.3% as the top gainer on the Nikkei.

Regional Market Performance

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 percent. China’s CSI300 blue-chip index gained 0.4 percent, and Hong Kong’s Hang Seng Index edged up 0.1 percent. However, Japan’s Nikkei 225 slipped 0.6 percent.

Global Market Indicators

EUROSTOXX 50 futures rose 0.18 percent

FTSE futures advanced 0.4 percent

Nasdaq and S&P 500 futures each dipped 0.2 percent in Asia trade after gains in the previous session.

Trump’s Tariff Moves Draw Limited Reaction

US President Donald Trump announced a 50 percent tariff on copper imports, set to take effect from August 1. He also imposed similar tariffs on Brazilian exports to the US and issued notices to seven other trading partners.

Despite these developments, US copper futures strengthened overnight, widening their premium over the London benchmark, while the overall market movements remained largely stable.

US Fed Meeting Minutes

Minutes released from the US Federal Reserve’s latest meeting indicated that “most participants” expected rate cuts to be appropriate later in the year. The Fed also assessed that any inflationary effects from tariffs would likely be “temporary or modest”.

Currency and Commodity Markets

The US dollar eased against major currencies on Thursday:

Euro up 0.17 percent to $1.1742

Sterling up 0.11 percent to $1.3605

Dollar held steady against the yen at 146.27

The Brazilian Real remained near a one-month low at 5.5826 per dollar following tariff threats.

Cryptocurrencies Trade Near Highs

Bitcoin traded close to record highs at $111,085, while Ether rose 1.3 percent to $2,779.

Oil prices:

Brent crude down 0.16 percent to $70.08 per barrel

US crude fell 0.22 percent to $68.23 per barrel

Outlook

Markets largely maintained their footing despite global trade headlines, with tech-led momentum and monetary policy expectations supporting broader sentiment.

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