Trump said India has expressed a willingness to eliminate all tariffs on U.S. products.
On May 15, U.S. President Trump stated that India had expressed a willingness to eliminate tariffs on U.S. products, a move aimed at reaching an agreement on import taxes.
Trump stated during an event with business leaders in Qatar that the Indian government 'offered us a deal, basically they are willing to impose no tariffs on us.'
Trump did not disclose more details about this proposal from the Indian side.
Trump also mentioned that he spoke with Apple CEO Tim Cook, advising him not to expand production in India.
Trump said of his conversation with Cook: 'I told him I don’t want you to build a factory in India.'
Trump stated that after their communication, Apple would 'increase its production scale in the United States.'
Gold plunged.
On May 15, gold prices plunged during the session, falling to their lowest level in more than a month, as investors awaited key U.S. inflation data to assess the direction of the Federal Reserve's policy, while the warming of China-U.S. trade relations weakened the appeal of gold.
Analysts stated that due to the positive dialogue between China and the U.S. weakening safe-haven demand, the outlook for gold's performance today is weak. If the retail sales and Producer Price Index (PPI) data released by the U.S. performs well, gold may face greater downward pressure.
Federal Reserve policymakers are currently keeping interest rates unchanged while assessing the impact of Trump's tariff policy and trade negotiations on prices and the economy. However, so far, the relevant hard data has not provided them with many clues.
The market currently expects the U.S. to cut interest rates by 50 basis points this year, with the timing of the first cut potentially starting in October.
Gold is traditionally viewed as a safe-haven asset against economic and political uncertainties, typically performing better in a low-interest-rate environment.
A-shares fell.
On May 15, the A-shares adjusted with reduced volume throughout the day, with the ChiNext index down nearly 2% at the close. By the end of trading, the Shanghai Composite Index fell by 0.68%, the Shenzhen Component Index fell by 1.62%, and the ChiNext Index fell by 1.91%.
A total of 1,407 stocks in the market rose, 76 stocks hit the daily limit up, and 3,856 stocks fell.
The coal sector led the gains.
Synthetic biology concepts surged against the trend, with several stocks including Chuaning Bio, Jieya Co., and Meinong Bio hitting the daily limit.
Consumer stocks such as food, clothing, and beauty care are active.
On the downside, the military industry sector adjusted, with Tianjian Technology nearing its daily limit down.
Computing power concept stocks weakened, with Hongjing Technology down nearly 10%.
Why is the market sluggish? Some analysts suggest that global investors still seem to adopt a wait-and-see attitude. Following better-than-expected tariff negotiation results over the weekend, expectations for further measures have cooled.
Eva Lee, head of Greater China equities at UBS Global Wealth Management, stated: 'Unless we see further policy support or a significant improvement in corporate earnings, the market's upside seems limited, as most recent positive news has already been priced in.'
Strategists expect the yuan to appreciate against the dollar at a moderate pace, while bond yields may slightly retreat amid ongoing deflationary pressures.
