Forex Marketz Daily Forex News – Fully Markets Update
Asian financial markets were a mixed bag this morning. They followed the temperament on Wall Street which closed lower thanks to concerns over a worsening trade dispute between China and the United States.
The Asian benchmark in Japan led the losses. The Nikkei 225 was down 0.75 percent. There were losses in most subsectors. Auto plays fell 1.89 percent this morning.
Elsewhere in the Asian and Pacific Rim, early losses in South Korea turned around. The Kospi composite index was up 0.17 percent.
In The Down Under, the benchmark S&P ASX 200 was up. Shares rose on 0.15 percent. The heavily weighted financials sub-index was up. Gains, on the broader index, were capped thanks to the telecomm and energy sectors. Both trader lower this morning.
Markets in China were lower today. On the Chinese mainland, the Shanghai composite was down 0.65 percent. The Shenzhen composite slipped fell 0.22 percent. The Shenzhen shed over two percent on Thursday.
In Hong Kong, the Hang Seng Index was down. Shares were down by 0.53 percent. All sectors except for telecoms were lower today.
The war of words between China and the United States has gotten worse. They were capricious and heightened the likelihood of a looming trade war.
Overnight, China’s commerce ministry accused the United States of being “capricious” over trade. He warned that the interests of U.S. farmers and other workers will only be hurt by the U.S. Administration’s use of “big sticks.”
On Monday, President Donald Trump requested that the U.S. Trade Representative identify another $200 billion in Chinese goods for additional tariffs. This would be an additional ten percent tariff. China said it would retaliate in kind.
