US asset managers rise as US, China cut tariffs

Franklin Templeton

12/05/2025 13:54

** Shares of U.S. asset managers rise premarket, as investors welcome the temporary slashing of tariffs by the world's two biggest economies, signaling de-escalation of a trade war that has stoked fears of recession and roiled financial markets

** Blackstone BX.N up 7.1%, KKR KKR.N rises 6.8% and Apollo APO.N climbs 5.7%

** BlackRock BLK.N up 4.9%, Charles Schwab SCHW.N rises 3% and Franklin Resources BEN.N climbs 1.5%

** Asset managers especially susceptible to market downturns as their fees are directly tied to the value of the portfolios under their management

** Dour investor sentiments and recession fears can also complicate fundraising efforts for alternative asset managers, who pitch higher returns to investors for higher risk

** The U.S. will cut extra tariffs it imposed on Chinese imports in April this year to 30% from 145% and Chinese duties on U.S. imports will fall to 10% from 125%

** The new measures are effective for 90 days

(Reporting by Ateev Bhandari in Bengaluru)

((ateev.bhandari@thomsonreuters.com))