Rise and shine everyone
Stocks moved higher after President Trump extended the tariff pause with China through August 31st, offering some relief to risk sentiment across global markets. Asian equities followed Wall Street’s late-session rally, with the Hang Seng leading gains, up 1.2%. However, the macro backdrop was less than inspiring — US manufacturing data disappointed, and China’s May Caixin Manufacturing PMI fell into contraction territory at 48.3, the weakest reading since September 2022, marking the first sub-50 print in eight months.
