🌅 Morning Update | 02.05.2025 📈 Asia rallies on China trade hopes Markets cheered China's openness to 🇺🇸 trade talks! 🇭🇰 Hang Seng led with a 🚀 +2.2%, boosted by Alibaba (+4.2%) & Xiaomi (+5.4%). 🇯🇵 Nikkei 225 rose +1.2%, 🇦🇺 ASX 200 gained +1.5%, 🇰🇷 KOSPI and 🇸🇬 Straits Times edged up +0.4% and +0.3%. 📣 China said talks must be based on “sincerity” & removal of unilateral tariffs. 🇺🇸 US futures rebound Wall Street vibes strong after China confirmed US outreach for talks. China: “If we fight, we fight to the end. If we talk, the door is open” – but warned against pressure tactics. 🛢 Oil bounces but set for weekly losses 🛢 Brent +1.05% → $62.62, WTI +1.09% → $59.61. Still down 5–7% this week due to weak data from 🇺🇸 & 🇨🇳. 👀 All eyes on OPEC+ meeting (May 5) as supply boost is expected. 🇸🇦 not keen on more cuts. 💱 Asian currencies climb Regional FX surged on trade optimism. 💥 Taiwan dollar up 2.7% (14-year high!) 🇰🇷 Won +1%, 🇮🇳 Rupee +0.9%, 🇨🇳 Yuan +0.3%, 🇯🇵 Yen lagging at +0.1%. 🍎 Apple warns on tariffs Q1 beat: $95.4B revenue, $1.65 EPS ✅ But warns of $900M tariff hit in Q2 ⚠️ 🛠 Supply chains shifting: Half of US-bound iPhones now from 🇮🇳, most other goods from 🇻🇳. 📉 Buybacks cut by $10B. 📉 Japan’s Q1 GDP to shrink First contraction since Q1 2024 expected (-0.2% annualised). 😕 High food prices dent sentiment despite strong jobs. 📦 Exports up, but imports likely outpaced them. 🛒 Amazon: Strong Q1, weak outlook Beat with $1.59 EPS, $155.7B revenue ✅ 📡 AWS growth solid at +17% YoY But Q2 guidance missed: Op income seen at $13–17.5B (vs $17.8B est) 😬