Friday, 06 July 2018 03:00

Asian markets dip as U.S., China tariffs set to take effect

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Asian stock markets were mostly down in early Friday trading, as the U.S. and China were both poised to impose tariffs on $34 billion of each other’s imports.

After starting higher, Chinese stocks fell as the day went on. The Shanhgai Composite SHCOMP, -0.61%[1]   and the Shenzhen Composite 399106, -0.29%[2]   both slipped as the U.S. and China were set to start putting new tariffs into place[3], which has helped sour equities sentiment and send Chinese stocks to multiyear lows of late.

Hong Kong stocks gave up early gains as well, with the Hang Seng HSI, -0.24%[4]   weighed down by losses from Tencent 0700, -0.52%[5]   and AIA 1299, -0.60%[6]  .

Japan’s Nikkei NIK, +0.67%[7]   opened solidly, even as the yen USDJPY, +0.05%[8]   was little moved. The index has been weak of late, falling eight of the past 10 sessions. Auto makers started the day well, rising some 1%. Toyota 7203, +1.71%[9]   and Honda 7267, +1.70%[10]   were each up more than 1.5%.

Korea’s Kospi SEU, -0.21%[11]   lost early gains, as Samsung 005930, -2.18%[12]   dropped 2% after forecasting weaker-than-expected second-quarter results[13]. ...

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