Forex Marketz Daily Forex News – Fully Markets Update
Asian financial markets were mixed this morning as traders are cautiously waiting for word on trade news. They are now expecting the United States to slap new tariffs on China.
In other news, Asian traders were digesting European Central Bank news that they would keep rates steady through the year but start to wind down their bond purchasing program by year’s end.
In South Korea, the Kospi composite index fell. Shares lost 0.41 percent. This extended losses from Thursday’s sell-off. Financial plays were down. Chemicals and retailing names both advanced this morning.
Asian traders React to Ongoing Trade War Tensions between the United States and China
Elsewhere in the Asian and Pacific Rim, in the Down Under, the S&P ASX 200 was higher. Shares jumped 1.15 percent. This outperformed other regional bourses and financial markets.
President Donald Trump has made up his mind to slap “pretty significant” tariffs on Chinese products. Beijing warned that China will respond in kind if Washington continued to fuel simmering trade tensions between the two economic giants.
Asa result markets in the Chinese sphere were cautious as the braced for these new tariffs. The U.S. will unveil them Friday during North American trade hours.
In Hong Kong, the Hang Seng Index was virtually flat. Shares were down by 0.01 percent. On the mainland in China, the benchmark stock bourse, the Shanghai composite was lower this morning. Shares were down 0.13 percent.
Volume was lower today as financial markets in Indonesia, Malaysia and Singapore were closed for a holiday.
