Japan’s Topix index rose after the U.S. and the European Union struck a deal to avert a trade war, buoying investor sentiment.
Automakers provided the biggest boost to the benchmark index, which gained for a third day. The Nikkei 225 Stock Average dropped as heavyweights including Fast Retailing Co. and SoftBank Group Corp. weighed on the blue chip gauge. The Bank of Japan will discuss an allocation change to buy more exchange-traded funds tied to the Topix and less tied to Nikkei gauges, Nikkei reported, without citing anyone.
U.S. President Donald Trump and European Commission President Jean-Claude Juncker pledged to expand European imports of U.S. liquefied natural gas and soybeans and both vowed to lower industrial tariffs, excluding autos.
Topix +0.7% to 1,765.10 as of midday break in Tokyo, meanwhile Nikkei 225 -0.1% at 22,592.23.
Yen +0.1% to 110.85 per dollar in 7th day of gains
Source : Bloomberg
PT Bestprofit Futures – MARKET
Sumber : bpfnews.com
U.S. President Donald Trump’s top economic adviser accused Chinese President Xi Jinping Thursday of stalling efforts to resolve a growing trade dispute with the U.S.
White House National Economic Council Director Larry Kudlow said he believed lower-level Chinese officials want to end tariffs the world two largest economic powers have imposed on each other, but that Xi has refused to amend China’s technology transfer and other trade policies.
“So far as we know, President Xi, at the moment, does not want to make a deal,” Kudlow said in an interview on CNBC. “I think Xi is holding the game up,” Kudlow said, and added, “The ball is in his court.”
Kudlow said China could end U.S. tariffs “this afternoon” if it took measures that include cutting tariff and non-tariff barriers to imports. The U.S. has also called on Beijing to end the “theft” of intellectual property and allow full foreign ownership of companies operating in China.
Kudlow also said he expects European Commission President Jean-Claude Juncker to make a trade offer when he meets with Trump at the White House next week.
Trump has demanded that the EU cut its 10 percent tariffs in auto imports at a time when his administration is conducting a national security study that could result in a 25 percent U.S. tariff on imported vehicles.
A 25 percent tariff would have a significant financial impact on European and Japanese automakers, and while Juncker has said he would make an trade offer to Trump next week, he did not offer details.
PT Bestprofit Futures – GLOBAL
The European Union and Japan on Tuesday signed a “landmark” free trade deal that comes as Washington imposes new tariffs and threatens a trade war with China.
The deal signed in Tokyo by the EU’s top officials and Japan’s Prime Minister Shinzo Abe is the biggest ever negotiated by the EU and creates a free trade zone covering nearly a third of the world’s GDP.
EU Council President Donald Tusk and Commission head Jean-Claude Juncker land in Japan after talks in Beijing, where they urged global trade cooperation and warned against trade wars.
“It is the common duty of Europe and China, but also America and Russia, not to destroy (the global trade order) but to improve it, not to start trade wars which turned into hot conflicts so often in our history,” Tusk said Monday in Beijing.
“There is still time to prevent conflict and chaos.”
The “landmark” EU-Japan deal creates a massive economic zone and stands in stark contrast to President Donald Trump’s “America First” protectionism.
PT Bestprofit Futures – GLOBAL