Last week, Fed Chair Jerome Powell signalled further interest rate cuts and the resumption of bond purchases. Traders increased their bets that the Fed will slash interest rates at its next meeting on October to protect the economy from slowing growth and the effects of the trade tensions. The Hang Seng index is trading 0.11% lower at 26,507. The Shanghai Composite is 0.52% lower at 2,992 while in Singapore, the FTSE Straits Times is 0.08% lower at 3,121. The ASX 200 in Australia trades 0.054% higher at 6,642.
Nikkei 225 benchmark in Tokyo is trading 2.01% lower at 21,340 after President Trump announced the United States will impose tariffs on $7.5 billion of goods from the EU. Traders increased their bets that the Fed will slash interest rates at its next meeting on October to protect the economy from slowing growth abroad and the effects of the trade war. The Hang Seng index is trading 0.52% lower at 25,906. The ASX 200 in Australia has had its worst day in seven weeks, trading 2.09% lower at 6,501.
Asian stocks are trading higher today mirroring the Wall Street rebound on Friday. The Hang Seng is trading 1.93 percent higher at 26,236, Nikkei225 in Japan is 0.64% higher at 20,547. The Shanghai Composite is trading 1.47 percent higher to 2,865, while in Singapore, the FTSE Straits Times index finished 0.52 percent lower to 3,132. Australian equities are trading higher; the ASX 200 is 0.83% lower to 6,458.
Asian stocks finished mixed today after the recent escalation in US-China trade tensions, while USDCNH finished above the 7 level. The Nikkei225 finished 0.40 percent higher at 20,684, the Hang Seng trading finished 0.47 percent lower at 25,996. The Shanghai Composite ended 0.72 percent lower to 2,774, while in Singapore the FTSE Straits Times index finished 0,49 percent lower to 3,186. Australian equities finished higher, the ASX 200 ended 0.25% higher to 6,584.
Asian stocks finished higher for the second consecutive day today as U.S. trade negotiators will likely visit China next week for their first face-to-face talk with Chinese officials since the G20 meeting. The Nikkei225 ended 0.44 percent higher at 21,745; the Hang Seng finished 0.93 percent higher at 28,730. The Shanghai Composite ended 1.01 percent higher to 2,929, while in Singapore, the FTSE Straits Times index finished 0.23 percent higher to 3,380.
Traders are remaining hopeful of a trade truce extension between the US and China after US President Trump said he would let the deal deadline slide if both parties were making headway. Asian markets finished flat for the day, after posting decent gains over the last days.
Asian stock indices took a hit on the chin led by technologies stocks after Canadian authorities arrested the chief financial officer of Huawei Technologies for allegedly violating Iran sanctions. No major gains due to concerns for European Union. Gold bullish momentum sturdy.
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