Pedestrians stand in front of an electronic board showing a share price of the Tokyo Stock Exchange along a street in Tokyo on January 19, 2024.HONG KONG, China — Equities fluctuated Monday as traders took a breather after the past weeks' healthy run as they absorbed weak Chinese data and reports that the United States planned to ramp up tariffs on clean energy products from the Asian country.
That came as the Wall Street Journal reported that the White House is looking at almost quadrupling tariffs on Chinese electric vehicles as part of a plan that will also target batteries and solar cells. The news came after weekend figures showing China's CPI rose more than expected in April, marking the third straight month of gains and providing some fresh hope for the economy.
"As long as the labour market remains tight, consumer resilience could continue to dampen hopes of inflation cooling off," Subadra Rajappa, at Societe Generale in New York, said.Discussion on the US rate outlook comes as expectations rise that the European Central Bank and Bank of England are planning to cut in the summer.