Manufacturing PMI Insights - June manufacturing PMI improved slightly from 49.5% in May to 49.7%, slightly above Bloomberg consensus of 49.6% but still below seasonal levels[1] - Production index rose by 0.3 percentage points to 51.0%, while new orders index increased from 49.8% to 50.2%[3] - New export orders index saw a minor increase from 47.5% to 47.7%, remaining below seasonal averages[5] Non-Manufacturing Sector Performance - Non-manufacturing business activity index rose by 0.2 percentage points to 50.5%, with the construction sector showing significant recovery[6] - Service sector index slightly declined to 50.1%, indicating mixed performance across industries[6] Price Trends and Economic Outlook - Both purchasing prices and factory prices showed signs of recovery, with raw material prices index rising by 1.5 percentage points to 48.4%[7] - The uncertainty surrounding tariff policies post July 9 may disrupt future export and production activities, necessitating stronger monetary and fiscal policies[2] Employment and Business Expectations - Employment index in manufacturing fell by 0.2 percentage points to 47.9%, indicating ongoing challenges in labor market stability[3] - Business activity expectations index decreased by 0.5 percentage points to 52%, reflecting cautious outlook among manufacturers[3]

韩国产业通商资源部：韩国贸易主管强调在与美国同行会谈中关税豁免的重要性。 ...

两国将设定钢铝关税的豁免配额。 美国钢铁公司（X）美股盘后涨0.018%，纽柯钢铁（NUE）和Steel Dynamics Inc盘后持平。 两国将谈判优惠的英国医药关税待遇。 文本显示，美国与英国的协议提及钢铁和铝关税豁免问题。 ...

Group 1 - Japan's Economic Revitalization Minister, Akizawa Ryozo, is negotiating with the U.S. regarding tariffs, focusing on a package plan targeting China's rare earth regulations and U.S. liquefied natural gas exports [1][3] - Japan believes it has advantages in rare earth processing, recycling, and reduced usage, proposing to assist the U.S. with technology in these areas, as well as in graphite and gallium [3] - Japan plans to increase imports of U.S. liquefied natural gas and purchase billions of dollars in semiconductors from U.S. companies, while also offering support for U.S. chip manufacturing [3] Group 2 - Japan's trade surplus with the U.S. is approximately $60 billion annually, making it difficult for Japan to solely reduce this surplus to satisfy U.S. demands [5] - Japan's strategy involves sacrificing third-party interests, particularly China, to maintain its own trade benefits, reflecting a form of diplomatic opportunism [5] - The U.S. has conflicting views among its officials regarding trade negotiations, complicating Japan's efforts to secure favorable terms [5][7] Group 3 - The chaotic negotiation environment, including disputes among U.S. officials, significantly reduces the likelihood of Japan reaching an agreement before the G7 summit [7] - Japan's attempts to appease the U.S. at the expense of its trade relations with China are viewed as a poor strategy, with China firmly opposing such actions [7]

澳洲贸易部长称，在总理Albanese可能与美国总统举行会晤之前，澳洲将继续施压 美国取消加征的关税 政策。 据《澳洲金融评论报》报道，两国领导人可能会在加拿大举行的G7峰会期间会面， 届时特朗普实施的 全球经济措施将是讨论的重点。 在澳洲试图协商取消关税之际，贸易部长Don Farrell对达成协议持有乐观态度。 他在周日表示："我不会放弃希望美国会取消这些关税的努力，每次有机会，我都 会继续向美国提出这 个主张。美国没有理由对澳洲征收关税……我们希望看到所有关 税被取消，而不仅仅是部分。" （图片来源：AFR） 特朗普近日批准将钢铁和铝出口关税从25%提升至50%，另外对澳洲所有其他对美出 口商品征收了10% 的关税。 但反对党财政发言人James Paterson认为，总理与美国总统的会晤本应更早进行。 他指出，英国获得的钢铁和铝关税豁免表明澳洲也有可能获取类似结果。 "我们当时没有进行报复，而是一点点地取消了所有关税。我希望对美国也能这样 做，只有通过与美国 盟友的公开、坦诚的讨论，我们才能做到这一点。" Paterson表示，联盟党可能支持建立关键矿产储备，用于关税谈判中的筹码。 "这 是澳洲可以采 ...

Group 1 - The core viewpoint of the article is that Japan and the United States are advancing trade negotiations, with potential announcements of an agreement during the G7 summit [1] - Japan is attempting to secure tariff exemptions by committing to increase automobile production in the U.S. and enhancing cooperation in the rare earth sector [1] - Japanese Trade Representative Akira Amari is in Washington discussing non-tariff barriers, expanded trade, and economic security cooperation with U.S. Commerce Secretary Gina Raimondo [1] Group 2 - Japan's proposal includes a mechanism where an increase in automobile production and exports to the U.S. could lead to a proportional reduction in the 25% automobile tariff [1] - Japan still hopes for a complete elimination of tariffs but considers a reduction in rates as an alternative option [1] - Recent phone conversations between Shigeru Ishiba and Donald Trump have raised expectations for an agreement announcement during the G7 summit [1]

日本经济再生大臣赤泽亮正称，寻求豁免所有关税的立场没有改变。 ...

新闻解读评级说明：五星重磅，四星重要，三星级以下大家选择听。 1、港股为何大跌? 会继续恶化吗? 本篇评级为★★★，主要围绕以下内容展开： 1、港股为何大跌? 会继续恶化吗? 2、杀敌一千，自伤一千二，美元资产或许更危险 如有疑问请以音频内容为准，添加妙妙子微信huxiuvip302，入群有机会与董小姐进一步交流。 今天中国内地市场没有开盘，但中国香港市场正常交易，并且出现了惊魂大跌。上午，恒生指数一度跌 幅接近3%，恒生科技指数跌幅超过3%。是什么事件触发了这一轮大幅回调？回调的深度会不会步步加 深？我们一起来看一下。 首先说一下结论：最新出现的扰动或许看上去是雷声大雨点小。这两天市场焦躁不安的触发因素中，离 不开特朗普。特朗普在过去一两天里，针对关税问题，尤其是针对中国关税豁免的问题，释放了很多危 险的信息。其中包括美国财政部长在接受采访时谈到中美贸易谈判有点停滞。这个用词其实已经比较客 气了——谈判没办法往前推进。背后的焦点是什么呢？为什么大家卡在这个地方？据美国媒体报道，是 因为一些关键性矿产资源方向上的谈判出了问题。 回顾5月12日日内瓦会议的共识，当时中国对稀土这一战略资源品的出口管制做了一些让步 ...

Important News - The U.S. House of Representatives passed a tax reform bill proposed by Trump, which will significantly reduce taxes, cut social spending, and increase federal debt; Democrats criticized the bill as a tax cut for the wealthy and a weakening of social security [1] Company News - TSMC and other manufacturers are advising the U.S. Department of Commerce to exempt semiconductor-related tariffs [2] - Sanofi will acquire clinical-stage biotech company Vigil Neuroscience for $470 million in cash, with the total acquisition price potentially rising to $600 million if subsequent development milestones are met [3] - Cigna announced a new agreement with Eli Lilly and Novo Nordisk to set a cap on out-of-pocket costs for weight loss medications [3] - Google has announced the launch of AI search ad testing for desktop users in the U.S. starting today [3] Economic Indicators - The number of initial jobless claims in the U.S. last week was 227,000, down from the previous value of 229,000 [4] - The yield on the 30-year U.S. Treasury bond rose to 5.15%, marking the highest level since October 2023 [4] - Federal Reserve Governor Waller indicated that if tariffs decrease, the Fed is expected to lower interest rates in the second half of 2025 [4] - Nike is expected to implement widespread price increases on products in the U.S. market as early as this week [4] - Walmart is laying off nearly 1,500 employees in its technology department [4] - Zoom reported a 2.9% year-over-year revenue growth to $1.17 billion for the first fiscal quarter, with adjusted earnings per share of $1.35, exceeding market expectations [4]

Core Viewpoint - Japan is considering accepting U.S. tariff reductions instead of exemptions [1] Group 1 - The potential shift in Japan's trade policy may impact bilateral trade relations with the U.S. [1] - Acceptance of tariff reductions could lead to changes in import/export dynamics between Japan and the U.S. [1] - This decision may influence Japan's economic strategy and its position in global trade [1]