Stock markets remain steady as Trump hints at flexibility on August 1 tariff deadline

Introduction: Asia-Pacific markets are on the rise despite new Trump tariff threats. Donald Trump announced new tariffs on 14 US trading partners, but there's relief as the implementation has been delayed until August 1. This delay allows time for countries to negotiate trade deals with the US.

Traders are interpreting Trump's actions as a sign of potential flexibility rather than a firm stance. Despite losses on Wall Street, Asian markets, including Tokyo's Nikkei 225, South Korea's KOSPI, and China's CSI300, are showing positive movements. European markets are expected to open flat, with more tariff letters anticipated later this week.

Market analysts suggest that traders are factoring in delays and uncertainty rather than expecting a resolution to the trade war. While some see optimism, others caution that the extension of deadlines only adds to the unpredictability of the situation.

Key events for the day include the UK's Office for Budget Responsibility releasing its Fiscal risks and sustainability report, Marks & Spencer chair facing discussions on M&S's cyber attack, and the Post Office Horizon IT Inquiry releasing its Final Report.

According to the source: The Guardian.