Odaily News Nomura Securities analysts said in a research note that as the July 9 deadline approaches, markets may be volatile. The near-term outlook may depend on several key factors, including tariff rates, the effective date of such tariffs and the countries involved in the new agreement. "While uncertainty remains high across a variety of possible scenarios, we believe that further clarity on trade tariffs may actually help markets ultimately move higher," the analysts said. They said a new tariff agreement could reduce uncertainty and allow investors to temporarily focus on other positive developments, such as the Fed's rate cut theme and artificial intelligence narrative. (Jinshi)