Hong Kong Stocks Close Week With a Loss

Hong Kong shares ended the week with a loss on Friday as investors fret about a possible trade war ahead of Donald Trump’s decision on whether to impose tariffs on China.

The Hang Seng Index fell 0.43 percent, or 130.68 points, to close at 30,309.49.

The benchmark Shanghai Composite Index retreated 0.73 percent, or 22.26 points, to 3,021.90 and the Shenzhen Composite Index, which tracks stocks on China’s second exchange, dropped 1.76 percent, or 30.24 points, to 1,691.65.

Source : AFP

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Asia Stocks Mixed; Dollar in Best Week Since 2016

Asian stocks had a mixed open Friday as plans for U.S. tariffs on Chinese imports revived concerns about global trade growth. The dollar headed for its best week since 2016 after the Federal Reserve signaled further tightening in 2018 while the European Central Bank signaled it won’t raise interest rates for more than a year.

MSCI Asia Pacific Index dipped 0.1 percent. Japan’s Topix Index was up 0.1 percent as of 9:59 a.m. in Tokyo. Australia’s S&P/ASX 200 futures rose 1 percent. Hang Seng futures rose 0.2 percent. Futures on the S&P 500 Index were down 0.2 percent after the underlying gauge closed 0.3 percent higher.

Equities edged higher in Japan, rose in Australia and dipped in South Korea. The S&P 500 closed with a modest rise Thursday, while the Nasdaq Composite Index hit a record high. Earlier, European stocks jumped and the euro suffered its biggest drop in about two years after the region’s central bank delivered a somewhat dovish message to investors. Europe’s bonds rallied. Emerging markets are under pressure as worries about an overhaul of Argentina’s central bank leadership saw a plunge in its currency.

Concluding what’s been an event-packed week for global markets, the Bank of Japan meets Friday, with no change to policy expected — though Governor Haruhiko Kuroda is likely to be pressed in a news conference on recent cutbacks in bond purchases. The BOJ is set to stand out against global peers that are moving ahead with policy normalization.

ECB President Mario Draghi succeeded Thursday in announcing the phasing out of quantitative easing without roiling markets. Prospects for no rate hike until the second half of 2019 saw the euro tumble at one point the most since 2016. A day earlier, Fed Chairman Jerome Powell said that with the U.S. economy in “great” shape, American policy makers will continue with gradual rate increases. Fed officials indicated that they’ll raise their benchmark a total of four times this year.

Still to come Friday is an expected official announcement on President Donald Trump’s list of $ 50 billion of Chinese imports targeted for higher tariffs, a move that China has said it will respond to in kind. China had also indicated that the imposition of tariffs would halt broader bilateral trade talks.

Source: Bloomberg

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Asia Stocks See Muted Start to Week

Asian stocks traded mixed Monday, with limited fallout from a tumultuous G-7 meeting. The dollar drifted and the yen steadied as President Donald Trump arrived in Singapore ahead of his summit with North Korea’s Kim Jong Un.

The MSCI Asia Pacific Index declined less than 0.05 percent as of 9:17 a.m. Tokyo time.

South Korean Kospi edged higher, rose 0.3 percent. Australia’s markets are shut for a holiday. The Canadian dollar fell most among its G-10 currency peers in the wake of the summit, which ended with deepening tensions over U.S. tariffs on imports from its allies and saw a dispute erupt between Trump and Prime Minister Justin Trudeau. Treasury yields edged higher, while oil ticked lower. S&P 500 futures slipped early Monday.

Source: Bloomberg

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