Forex Marketz Daily Forex News – Fully Markets Update
Asian stock markets were mixed to higher this morning. Several regional markets looked to stop losses made yesterday. There are escalating trade tensions between China and the United States causing sharp market volatility.
In the Asian stock bourse, the Japanese Nikkei 225, shares were lower. They lost 0.19 percent. The financials and materials sectors showed declines. These losses were led by shipping names. Also steelmakers fell today. The Topix sea transport sub index was down. It lost 2.96 percent. Banking stocks fell 1.67 percent.
In South Korea, shares shrugged off those worries and moved higher. The Kospi composite index rose 0.59 percent. Large cap tech names were higher. Samsung Electronics was up 0.64 percent and steelmaker Posco rose 0.59 percent.
In Australia, the S&P ASX 200 was up. Shares gained 0.66 percent. Most of the sub-indices were up today. Financials, a heavily weighted index, gained 1.30. Oil companies also saw gains.
Asian markets in China were Listless today.
Chinese markets sold off on Tuesday but saw some gains this morning. The Hang Seng Index (HIS) was up 0.34 percent. Most sectors gained from the last session. There where small gains this morning. Mainland markets were lower today. The Shanghai composite lost 0.42 percent. The Shenzhen composite was virtually flat.
Traders are still uptight about a possible trade war between the two largest economic superpowers. On Monday, President Donald Trump said he directed the U.S. Trade Representative to find an additional $200 billion in Chinese goods to be slapped with additional tariffs.
In response, Beijing said they will respond in kind with even more duties on U.S. imports. They are targeting agricultural products which directly attacks the Republican Party’s base.
