Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

Trending :

Asian markets mostly down as tariffs kick in

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

September 2, 2019: Most Asian markets fell on Monday as fresh Chinese and US tariffs on goods worth hundreds of billions of dollars kicked in, though Donald Trump reiterated that the two sides were still due to holds talks this month.

Hong Kong was also being weighed by another weekend of violence, fuelling worries about possible Chinese intervention in the financial hub, while the unrest has also hit property firms and Macau's casinos.

Washington's latest levies on imports from China took effect on Sunday and were followed later by Beijing's retaliation.

The measures are the latest in the long-running trade war between the world's top two economies, which has rattled global markets and hitting growth across the planet.

Still, Trump said negotiators would meet this month to discuss the issue. “We are talking to China, the meeting is still on,” he told reporters.

However, analysts warned there was unlikely to be any end in the near term. “There is a long way to go,” said Shane Oliver, head of investment strategy at AMP Capital Investors. “Share markets may still have to fall further to pressure Trump to resolve the issue.”

Tokyo ended the morning session 0.2 percent lower, Sydney and Singapore each shed 0.6 percent, Taipei was off 0.1 percent and Seoul was marginally lower.

But Shanghai rose 0.7 percent after a better-than-expected reading on Chinese factory activity, though investors remain uncertain about the outlook as the trade war bites deeper.

APP

Posted on: 2019-09-02T09:59:00+05:00

29725