Tokyo’s Nikkei index edges down

Tokyo’s benchmark Nikkei index slipped 0.31 percent on Wednesday with investors jittery over US protectionist policies and concerns over fuel costs linked to a rise in oil prices.

The Nikkei 225 index lost 70.23 points to close at 22,271.77 while the broader Topix index was up 0.02 percent or 0.38 points at 1,731.45.

Source : AFP

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China’s Stock Index Falls Below 3,000 First Time Since 2016

Chinese stocks slumped, with the benchmark gauge falling below 3,000 for the first time since September 2016, amid growing trade tensions with the U.S.

The Shanghai Composite Index retreated 1.7 percent and shares tumbled in Hong Kong after President Donald Trump threatened to slap tariffs on another $ 200 billion in Chinese imports. China’s government said it will take “strong” counter measures if the U.S. issues new levies. The yuan weakened to its lowest level against the greenback since mid-January.

The latest threat from Trump comes before the first wave of 25 percent import levies takes effect on July 6. The tariffs target Chinese President Xi Jinping’s Made in China 2025 plan that seeks to develop sophisticated manufacturing capabilities.

The ratcheting up of tensions is a blow to sentiment in the struggling $ 7.2 trillion equity market, where turnover has been dwindling on concern that the trade spat will hurt China’s already-slowing economy. More specifically, it’s a direct challenge to high-tech investing themes, which were some of the hottestplays last year.

Source: Bloomberg

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