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Wall Street cheers Argentina FX controls easing, IMF deal

BUENOS AIRES (Reuters) -Argentina's long-suffering markets gave a slightly weary cheer on Monday after the country sealed a $20 billion loan program with the International Monetary Fund and undid large parts of its currency and capital controls late on Friday. The peso slid around 9% to 1,170 per dollar, but less than expected, while widely-used parallel exchange rates strengthened, almost closing the gap between the official and informal rates that has widened sharply in recent years. The currency drop came after the central bank undid its so-called crawling peg and allowed the currency to float freely within a far wider trading band of 1,000-1,400 pesos per dollar, a major policy shift investors and firms had been pushing for.

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Goldman’s Kostin: Shrinking liquidity spurs stock volatility

(Bloomberg) -- The equity market’s liquidity has deteriorated sharply in the last few weeks, contributing to a spike in volatility as tariff worries rocked markets, according to Goldman Sachs Group Inc. strategists.Most Read from BloombergThe Secret Formula for Faster TrainsNYC Tourist Helicopter Crashes in Hudson River, Killing SixEven Oslo Has an Air Quality ProblemInside the Quiet, Extravagant Expansion of the Frick CollectionLisbon Mayor Wants Companies to Help Fix City’s Housing ShortageSud

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Goldman cuts targets on China stocks for second time this month

(Bloomberg) -- Strategists at Goldman Sachs Group Inc. cut their targets for key Chinese stock indexes for a second time this month, citing heightened trade tensions with the US.Most Read from BloombergThe Secret Formula for Faster TrainsNYC Tourist Helicopter Crashes in Hudson River, Killing SixEven Oslo Has an Air Quality ProblemInside the Quiet, Extravagant Expansion of the Frick CollectionLisbon Mayor Wants Companies to Help Fix City’s Housing Shortage“US-China trade tensions have soared to

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European tech stocks higher after tariff exemptions

European semiconductor names were up as well, with gains strongest for those most exposed to the U.S. market, like ASM International, Infineon, and ASML, rising about 2% as of 0720 GMT. Europe's chipmakers supply key chips to the smartphone, personal electronics industry, while computer chip equipment makers, like ASML, are now excluded from Trump's 10% "baseline" tariffs into the U.S. Other U.S. tech stocks listed in Frankfurt were also higher with Nvidia rising more 3%, Dell Technologies up 6.3%.

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Asian markets rally after Wall Street ends higher in the chaotic and historic week

Asian markets rallied on Monday as tensions over trade eased slightly after U.S. President Donald Trump said electronics such as phones and laptops would not be subject to the same high import duties as some other products. Hong Kong's Hang Seng jumped 2.4% to 21,419.59, while the Shanghai Composite index picked up 0.9% to 3,266.26 after the government reported that China's exports surged 12.4% in March from a year earlier. U.S. President Donald Trump said he was exempting smartphones, computers and other electronics from his tariffs after China announced Friday that it was boosting its tariffs on U.S. products to 125% in the latest tit-for-tat increase following Trump’s escalations on imports from China.

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Asian tech stocks bounce back after Trump tariff exemptions

TAIPEI/SHANGHAI (Reuters) -Shares in Asian tech companies that are major suppliers to companies like Apple rose on Monday after the U.S. government granted temporary exclusions from steep tariffs on smartphones, computers and some other electronics imported largely from China. Shares in Foxconn, Apple's largest iPhone assembler, rose as much as 7.8% before trimming gains to close 3% higher. China's Goertek and Lens Tech both rose by more than 7% before also trimming gains.

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