Wait...
  1. Home >
  2. Export Import News >
  3. Economy News >
  4. Asian shares extend losses as US-China trade war heats up >
  5. Asian shares extend losses as US-China trade war heats up

Online Export Import Data Search

Complete Training Video : Click Here

Asian shares extend losses as US-China trade war heats up.


Date: 14-05-2019
Subject: Asian shares extend losses as US-China trade war heats up
Shares in Asia extended losses on Tuesday following sharp falls on Wall Street overnight, the yen strengthened and US Treasury yields ticked lower as the trade war between China and the United States escalated.

In early trade on Tuesday, MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4%, touching its lowest level since Feb. 15.

Australian shares were down 1.2% while Japan's Nikkei stock index slid 1.9%.

U.S. S&P 500 e-mini stock futures were flat near seven-week lows.

China on Monday announced it would impose higher tariffs on $60 billion of U.S. goods following Washington's decision last week to hike its own levies on $200 billion in Chinese imports.

The U.S. Trade Representative's office also said it planned to hold a public hearing next month on the possibility of imposing duties of up to 25% on a further $300 billion worth of imports from China.

The tariff escalation has rattled global markets, even as U.S. President Donald Trump said he would meet with Chinese President Xi Jinping next month.

On Monday, the Dow Jones Industrial Average fell 2.38% to 25,324.99, the S&P 500 lost 2.41% to 2,811.87 and the Nasdaq Composite dropped 3.41% to 7,647.02.

As investors flocked to safe-haven assets, U.S. Treasury yields remained near six-week lows early on Tuesday. Benchmark 10-year Treasury notes yielded 2.3962% compared with a U.S. close of 2.405% on Monday.

The two-year yield, which rises with traders' expectations of higher Fed fund rates, ticked down to 2.1782% from a U.S. close of 2.193%, with data from CME Group showing a more than 75 percent chance of the Fed cutting rates by the end of 2019.

Underscoring market concerns over the economic impact of the trade war, 10-year yields remained below those on three-month Treasury bills. A sustained inversion of this part of the yield curve has preceded every U.S. recession in the past 50 years.

On Monday, some traders had been concerned that China, the largest foreign U.S. creditor, could dump Treasuries to counter the Trump administration's hardening trade stance. But most analysts downplayed such a possibility.

"If China did start to (sell Treasuries) it will galvanise both side of politics in the U.S. against China and the Fed would be sent into the market to buy bonds," Greg McKenna, strategist at McKenna Macro said in a note to clients.

"That would expand its balance sheet but it would allow it to neutralise China's efforts to disturb US financial markets. So I doubt they'll try to sell Treasuries."

The dollar dropped 0.1% against the yen to 109.20 .

The single currency was up 0.1% on the day at $1.1234, while the dollar index, which tracks the greenback against a basket of six major rivals, was slightly lower at 97.285.

Worries over an escalating trade war also hit commodity markets, sending U.S. crude down 0.11% to $60.97 a barrel. Brent crude was off 0.3 percent at $70.01 per barrel.

Gold rose amid broader market jitters, with spot gold trading up 0.25% at $1,302.96 per ounce. Bitcoin gained 1.9% to $7,959.16.

Source: moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 16-05-2019
Notification No.37/2019 - Customs (N.T.)
Exchange Rates Notification No.37/2019-Custom(NT) dated 16.05.2019

Date: 15-05-2019
Notification No. 36/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg

Date: 15-05-2019
Trade Notice No. 14/2015-2020
Three months time window for applying for MEIS for shipping bills with HS Codes which were harmonized and notified under MEIS Appendix 3B, Table 2 after a delay

Date: 15-05-2019
Policy Circular No. 23/2015-20
Non-requirement of submission of Hard copy of application at RAs for issue of Advance Authorisation (AA) & EPCG Authorisation

Date: 15-05-2019
ECA Circular No. 24
Administrative Review of Adjudication Orders passed by subordinate officers - regarding.

Date: 14-05-2019
TRADE NOTICE NO. 13/2019-20
Imports of Maize (feed grade) under the TRQ Scheme for 2019-20.

Date: 14-05-2019
Notification No. 15/2019-Customs
Seeks to further amend notification No. 50/2017-customs dated 30th June 2017 to postpone the implementation of increased customs duty on specified imports originating in USA from 16th May, 2019 to 16th June, 2019.

Date: 13-05-2019
TRADE NOTICE NO. 12/2019-20
Discontinuing submission of physical copy of RCMCs with effect from 1.7.2019 while filling application for incentives/entitlements under FTP

Date: 13-05-2019
Notification No. 20/2019-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI-reg.

Date: 13-05-2019
Notification No. 21/2019-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI-reg.



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001