Asia Stocks Decline Even as China Holds Fire on Tariff Reprisal

Asian shares fell ahead of the U.S.’s planned implementation of trade tariffs on $ 34 billion worth of Chinese goods. China pledged not to implement duties before the U.S. is scheduled to do so on Friday.

The MSCI Asia Pacific Index dropped 0.5 percent to 162.56 as of 4:24 p.m. in Hong Kong, after swinging between gains and losses. Technology and financial stocks were among the biggest drags on the region’s benchmark gauge.

Japan’s Topix slid 1 percent with electronics and retailers posting the steepest declines, while Hong Kong’s Hang Seng Index fell 0.2 percent. Australia’s S&P/ASX 200 advanced 0.5 percent.

Source : Bloomberg

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Asia Stocks Extends Decline as Risk-Off Mode Prevails on Trade

Asian shares extended their decline into a fourth day as investors remain cautious even after the Trump administration decided against the harshest measures on China investments.

The MSCI Asia Pacific Index fell 0.2 percent as of 11:14 a.m. in Hong Kong, extending the weekly loss to 2.6 percent. Japan’s Topix index slid 0.5 percent as the yen strengthened against the greenback. China stocks rebounded as heavily-weighted oil companies PetroChina Co. Ltd. and China Petroleum and Chemical Corporation contributed most to gains.

Source : Bloomberg

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Japan Shares Decline as Global Trade Woes Keep Investors at Bay

Japanese stocks declined as investors remained wary over the ongoing trade spat between the U.S. and China.

Topix index -1% to 1,771.57 as of 9:31 a.m. in Tokyo. Nikkei 225 -0.8% to 22,680.24. Yen +0.2% at 110.47 versus dollar.

Electronics makers and machinery companies weighed most heavily on the benchmark Topix gauge in early trading in Tokyo. Oil explorers also fell following a dip in global crude prices. U.S. President Donald Trump said on Friday new tariffs on Chinese imports would take effect from July 6. In response, China said it would charge tariffs of the “same scale and intensity” on goods from the U.S.

In Japan, a strong earthquake hit Osaka city on Monday morning, rattling one of the country’s industrial heartlands, but appearing to spare the region of any major damage. The earthquake struck with a magnitude of 5.9 at 7:58 a.m. local time, at a depth of 10 kilometers (6.2 miles).

Source: Bloomberg

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