Asian stock markets opened flat to marginally negative on Wednesday’s session as market participants will monitor developments on US-China trade.
As per media reports, China is pushing US President Trump to remove more tariffs on about $125bn worth of Chinese goods imposed in September as part of the “phase one” trade deal. Also, the media report further said that has shown that both the US and China have suffered losses in the tens of billions of dollars from the trade war.
As per media reports, China is pushing US President Trump to remove more tariffs on about $125bn worth of Chinese goods imposed in September as part of the “phase one” trade deal. Also, the media report further said that has shown that both the US and China have suffered losses in the tens of billions of dollars from the trade war.
On the currency front, the People’s Bank of China on Wednesday set the midpoint for the yuan at 7.0080 per dollar - its strongest since August 8, the media reports added.
Elsewhere, the Nikkei 225 in Japan gained 0.21% in morning trade, with the Topix index, Shanghai composite, Shenzhen composite and Shenzhen component all hovering around the flatline. Hong Kong’s Hang Seng index slipped 0.18% and South Korea’s Kospi was 0.1% higher.
Further, oil prices trade at 3-month highs as a corollary to global growth with US inventories expected to fall tomorrow.
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