Asian Stocks Shrug Off Tariff Concerns and Rally for Second Day

Asian stocks extended gains to a second day as investors brushed past concerns over U.S.-China trade tensions.

The MSCI Asia Pacific Index rose 1.2 percent as of 4:22 p.m. in Hong Kong as China’s Shanghai Composite Index rallied after the nation vowed to retaliate with its own tariffs on $ 60 billion of U.S. goods. Japan’s Topix index climbed 1.5 percent, its biggest four-day advance since November 2016. The Nikkei 225 held gains after the Bank of Japan left policy unchanged at a two-day meeting.

Source : Bloomberg

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Asian Stocks Slip Amid U.S.-China Trade Dispute, Post Typhoon

Asian stocks fell as concerns about trade relations between the two largest economies resurfaced. Typhoon Mangkhut also weighed on Macau casino stocks and airlines in the region.

The MSCI Asia Pacific ex-Japan Index fell 1.2 percent as of 4:29 p.m. in Hong Kong after the Wall Street Journal reported that talks between China and the U.S. were at risk amid fresh threats from the Trump administration of tariffs on $ 200 billion of Chinese imports. China’s Shanghai Composite Index dropped 1.1 percent to its lowest close since 2014. Japan and Malaysia are closed for holidays.

Source : Bloomberg

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Asian shares hobbled by new tariff threat

Asian share markets slipped on Monday amid reports Washington was about to announce a new round of tariffs on Chinese imports, setting the stage for possible reprisals by Beijing.

Liquidity was thin with Japan on holiday, keeping early moves modest. Hong Kong markets could also be disrupted after a super typhoon brushed the city on its way to landfall in China’s Guangdong, the country’s most populous province.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.26 percent, snapping three straight sessions of gains.

Australian shares eased 0.2 percent, while EMini futures for the S&P 500 were off 0.19 percent. Treasury futures were little changed as were the major currencies.

U.S. President Donald Trump is likely to announce new tariffs on about $ 200 billion on Chinese imports as early as Monday, a senior administration official told Reuters.

Investing.com

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