Asian markets decline as doubts emerge over Sino-US trade war truce

Asian stock markets slipped in the morning trade on Tuesday as investors remain doubtful of the US-China trade war getting resolved before the 90-day deadline. Japan, Korea and Australia markets dropped, while the yen advanced and Treasuries edged up. Shanghai Composite and Jakarta Composite are slightly up in today’s trade.

 

The temporary freeze on further hostilities in the trade war between the United States and China had sparked a global rally in equity markets on Monday, pushing MSCI’s all-country world index up 1.3%. But even before the trading day ended, indexes pulled back from intraday highs as investors pondered unresolved issues between the two countries.

 

Overnight, the Dow added 287.97 points or 1.13% to 25,826.43, while the Nasdaq climbed 110.98 points or 1.51% to 7,441.51 and the S&P gained 30.20 points or 1% to 2,790.37.

 

Oil extended rally after Saudi Arabia and Russia continued their cooperation pact. The pound erased gains as the threat of a vote to bring down British PM Theresa May’s government looms. 

 

Stock Cash Tips Today