China Stocks Fall as Investors Fear More Tariffs

China stocks closed lower on Thursday as investors fretted about the possible imposition of new U.S. tariffs on imported goods from China, which could come as early as this week.

A public consultation period on plans by Washington to impose tariffs on an additional $ 200 billion worth of Chinese imports ends on Thursday. A Bloomberg report said Trump plans to impose the tariffs after that deadline.

However, U.S. President Donald Trump said on Wednesday that the United States was not yet ready to come to an agreement over trade disputes with China but added talks would continue.

At the close, the Shanghai Composite index ended 12.74 points, or 0.5 percent, lower at 2,704.34.

The blue-chip CSI300 index ended down 1.07 percent, with its financial sector sub-index lower by 0.93 percent, the consumer staples sector down 2.56 percent, the real estate index down 2.22 percent and healthcare sub-index down 1.38 percent.

Shares in Chinese natural gas firms closed higher as investors expect them to benefit from Beijing’s policies to support the sector. Chongqing Gas Group Co Ltd ended up 6.1 percent and Foshan Gas Group Co Ltd climbed 5.2 percent.

Source : Reuters

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Asian Stocks Fall for Sixth Day as EM Contagion Concerns Persist

Asian equities slid, driving the benchmark gauge to its longest losing streak since December, as concerns surrounding emerging markets continue.

The MSCI Asia Pacific Index fell 0.6 percent to 160.42 as of 4:36 p.m. in Hong Kong today. Equities in Japan and Australia declined. Philippines stocks extended its drop, wiping out around $ 9.5 billion in market value over two days, while the Jakarta Composite Index rebounded from its Wednesday’s slump.

“Although Turkey and Argentine fundamentally have nothing to do with Asia, as long as the rhetoric continues between U.S. and China, the trade war will continue to dominate the sentiment,” Amica Darmawan, a fund manager at PT First State Investments Indonesia, said by phone. “I expect the market volatility to increase as we head into October when these tariffs will be implemented.”

Source : Bloomberg

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European Stocks Drop Third Day as Banks to Miners Fall on EM

European equities fell for a third straight day with banks and miners leading declines as investors consider the potential impact from the selloff in emerging markets amid concern about an economic slowdown.

The Stoxx Europe 600 Index opened down about 0.4 percent at 374.20 after closing on Wednesday at the lowest since April 9. BHP Billiton was down 0.4 percent after adjustment for going ex-dividend, while HSBC Holdings retreated 0.6 percent and Banco Santander slid 0.7 percent.

Currency crises in Brazil and Argentina, economic turmoil in Turkey and a trade-war scare in Asia have rocked European equities, as some of the region’s biggest companies have significant exposure to the regions. The correlation between European and emerging-market equities has been on the rise, climbing to 0.6 from 0.3 in June. Investors will also be monitoring the latest trade developments as President Donald Trump may announce another round of tariff hikes on Chinese imports as soon as Thursday.

Source : Bloomberg

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