Tariff negotiations stir optimistic sentiment, the S&P 500 rises 0.99% to a new high

As for the reasons for further increases, Han Wei analyzed that it is mainly due to signs of easing trade tensions. "With continuous news or rumors of trade agreements being reached, investors have shifted to an optimistic sentiment." In terms of individual stock news, Union Steel Holdings announced on Thursday that it has signed a non-binding tripartite strategic cooperation agreement with two subsidiaries of COSCO SHIP INTL to collaborate in the region to pursue and execute oil and gas projects. Union Steel Holdings rose 0.83% to HKD 0.60 on Thursday. The market is optimistic as the U.S. reaches agreements with major regional trading partners, leading to a general surge in Asia-Pacific stock markets. The FTSE Straits Times Index has risen for 14 consecutive trading days, increasing by 0.99% or 41.77 points to a new high of 4273.05 points. Analyst: Low likelihood of Fed rate cut at the end of the month Dr. Han Wei, portfolio manager at Phillip Securities, stated in an interview with Lianhe Zaobao that the performance of the index on Thursday exceeded expectations, as he had previously predicted a pullback due to arbitrage activities. Frasers Centrepoint Trust noted in its business report released on Thursday that the committed rental rate for retail malls rose to 99.9% as of the end of June, up from 99.5% at the end of March. Its tenant sales in the third quarter increased by 4.4% year-on-year, while shopper traffic rose by 2.1% year-on-year. Frasers Centrepoint Trust's stock price fell 0.45% to SGD 2.20 on Thursday. Of the 16 index constituent stocks, 6 rose, including ST Engineering, which just announced a contract worth SGD 4.7 billion for the second quarter, rising 7.13% to SGD 8.86; 10 stocks declined, with Hongkong Land experiencing the largest drop, falling 2.21% to USD 6.19. The other four stocks remained unchanged. Increase attributed to signs of easing trade tensions Additionally, the market is beginning to focus on whether the Federal Reserve will cut interest rates at the end of July to release more funds into the market. Han Wei believes that the likelihood of a rate cut at the end of this month is low, as the U.S. still faces high inflation pressures. Han Wei estimates that the index still has room for further increases in the short term, but there may also be instances of investors engaging in high-level arbitrage, leading to a pullback from high levels. Therefore, he advises investors to reduce their holdings and start engaging in high-level arbitrage to prevent significant declines in investment returns after a market correction. Nick Twidale, chief market analyst at AT Global Markets, pointed out that the agreement between the U.S. and Japan will boost investor confidence, and the market also hopes for a resolution to the trade war. On Thursday, the Singapore stock market recorded a total trading volume of 2.36 billion shares, with a turnover of SGD 1.87 billion. There were 356 advancing stocks and 223 declining stocks. China Everbright Water is undergoing personnel changes, with Xiong Jianping, who previously served as the general manager of the Operations and Environmental Management Department at the Hong Kong-listed China Everbright Environment, taking over from Tao Junjie as president and executive director of China Everbright Water starting Thursday At the same time, the company will establish a Sustainable Development Committee to oversee environmental, social, and governance (ESG) matters. China Everbright Water reported HKD 0.24, unchanged. He continued to point out that the recently released local economic data, including the core inflation rate remaining at a mild level of 0.6% in June, also helps to boost the Hang Seng Index. In the Asia-Pacific stock market, benefiting from Japan's recent trade agreement with the United States, the Tokyo stock market rose by 1.59%; followed by the Shenzhen stock market, which increased by 1.21%. Other stock markets saw gains of less than 1%. The Sydney stock market did not join this wave of increase, falling by 0.24%