India overtakes China in smartphone exports to the U.S. as manufacturing jumps 240%, report exhibits
India has overtaken China to change into the highest exporter of smartphones to the U.S., based on analysis agency Canalys, reflecting the shift in manufacturing provide chain away from Beijing amid tariff-fueled uncertainty.
Smartphones assembled in India accounted for 44% of U.S. imports of these gadgets within the second quarter, a big improve from simply 13% in the identical interval final 12 months. Complete quantity of smartphones made in India soared 240% from a 12 months earlier, Canalys mentioned.
In distinction, the share of Chinese language smartphone exports to the U.S. shrank to 25% within the quarter ended June, from 61% a 12 months earlier, Canalys information launched Monday confirmed. Vietnam’s share of smartphone exports to the U.S. was additionally larger than that of China at 30%.
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— Anniek Bao
Singapore Airways’ shares droop over 8% after downbeat earnings
Singapore Airways’ shares plunged a day after the service reported a 59% drop in its first-quarter earnings.
SIA shares fell greater than 8% Tuesday to log their largest intra-day decline in almost an 12 months, information from LSEG confirmed. It was final down 7.11%.
Internet revenue fell to 186 million Singapore {dollars} ($144 million) for the quarter ended June 30, based on the corporate’s earnings report. SIA attributed the drop to lowered curiosity revenue and losses from its associates.
— Lee Ying Shan
Shares of China’s child product corporations soar after Beijing proclaims childcare subsidies
Shares of babycare and child product corporations rose Tuesday after China launched a childcare subsidy program in its bid to deal with worsening fertility charges.
China will provide an annual childcare allowance of three,600 yuan ($501) for every baby born on or after Jan. 1, 2025, till the age of three, the federal government reported on Monday after buying and selling hours.
Shares of Beingmate, child meals and components maker, rose over 9%, whereas Hong Kong-listed shares of China Feihe, which produces toddler components, rose as a lot as 8.3%, earlier than paring features.
— Lee Ying Shan
Asia markets begin Tuesday buying and selling within the pink
Asia markets began the buying and selling day decrease.
Japan’s benchmark Nikkei 225 fell 0.61%, whereas the Topix misplaced 0.76%.
South Korea’s Kospi fell 1.09%, and the small-cap Kosdaq slipped 0.88%.
Australia’s S&P/ASX 200 misplaced 0.42%.
—Lee Ying Shan
Opening calls
Good morning from Singapore. Asia markets are poised for a weaker open.
Japan’s benchmark Nikkei 225 was set to open decrease, with the futures contract in Chicago at 40,920 whereas its counterpart in Osaka final traded at 40,820, in opposition to the index’s final shut of 40,998.27.
Futures for Hong Kong’s Hold Seng Index stood at 25,367, pointing to a weaker open in contrast with the HSI’s final shut of 25,562.13.
Australia’s S&P/ASX 200 was set to start out the day decrease with futures tied to the benchmark at 8,606, in contrast with its final shut of 8,697.70.
— Lee Ying Shan
S&P 500 closes little modified
The S&P 500 closed close to the flatline on Monday, with the newest commerce deal between the U.S. and EU failing to spark a recent rally.
The broad market index inched up 0.02% to shut at 6,389.77, whereas the Nasdaq Composite gained 0.33% to 21,178.58. The Dow Jones Industrial Common slipped 64.36 factors, or 0.14%, to complete the session at 44,837.56.
— Brian Evans
Trump proclaims international baseline tariff doubtless between 15% to twenty%
US President Donald Trump speaks throughout a bilateral assembly on the Trump Turnberry Golf Programs, in Turnberry south west Scotland on July 28, 2025.
Christopher Furlong | Afp | Getty Photos
On Monday, President Donald Trump introduced {that a} international blanket tariff would doubtless fall between 15% to twenty%. This could have an effect on imports from nations that haven’t but negotiated separate commerce agreements with the United Statements.
“For the world, I’d say it will be someplace within the 15 to twenty% vary … I simply need to be good,” Trump mentioned alongside United Kingdom Prime Minister Keir Starmer. “I’d say within the vary of 15 to twenty%, in all probability a type of two numbers.”
Trump had beforehand introduced that baseline tariffs can be simply 10%. The president’s tariffs are anticipated to enter place on Aug. 1.
— Erin Doherty, Lisa Kailai Han
