Asian Shares Fall As Trade Tensions Weigh

RTTNews | 54天前

(RTTNews) - Asian stocks ended mostly lower on Wednesday despite China's GDP growth and other key economic data coming in above estimates.

Tariff worries persisted as China moved to halt Boeing purchases amid tariff tensions and U.S. President Donald Trump issued a pointed message, saying China should approach the U.S. for a trade deal to ease tariffs because it relies heavily on American consumers.

"The ball is in China's court," the president said in a statement read at the White House briefing.

Meanwhile, as the tariff war heats up, China today appointed Li Chenggang as vice minister of commerce and a top representative for international trade negotiation, replacing Wang Shouwen.

China's Shanghai Composite index edged up by 0.26 percent to 3,276 after official data showed China's economy grew more than expected in the first quarter despite trade tariff disputes.

GDP grew 5.4 percent year-on-year, the National Bureau of Statistics reported. This was better than economists' forecast of 5.1 percent and was unchanged from the previous quarter.

In March, retail sales moved up 5.9 percent from the previous year while economists had forecast sales to climb 4.2 percent. Industrial production advanced 7.7 percent from a year ago compared to forecast of 5.7 percent.

Fixed asset investment increased 4.2 percent in the January to March period while economists had forecast an expansion of 4.1 percent.

Hong Kong's Hang Seng index fell 1.91 percent to 21,056.98 amid rising U.S.-China tension. Hong Kong Post said today it had suspended goods mail services by sea to the United States and will suspend its air mail postal service for items containing goods from April 27 due to "bullying" U.S. tariffs.

Japanese markets fell sharply, with tech stocks coming under pressure after chipmaker Nvidia said the U.S. put new restrictions on some chip exports to China.

The Nikkei average dropped 1.01 percent to 33,920.40 while the broader Topix index settled 0.61 percent lower at 2,498.03. Advantest slumped percent, Tokyo Electron gave up 1.5 percent and SoftBank lost 2.5 percent.

Seoul stocks fell sharply, with the Kospi average declining 1.21 percent to 2,447.43 following Washington's decision to restrict Nvidia's artificial intelligence (AI) chip exports to China. Samsung Electronics tumbled 3.4 percent and SK Hynix shed 3.7 percent.

Australian markets ended a choppy session marginally lower, with mining and tech stocks facing setbacks from global trade tensions.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index rose 0.47 percent to 12,067.92.

U.S. stocks fluctuated before ending modestly lower overnight despite better-than-expected first-quarter earnings from Bank of America and Citigroup.

An uneasy calm prevailed as the Mexican government halted U.S. fuel imports sent into the country by road and China ordered its airlines not to take further deliveries of Boeing jets in retaliation against U.S. tariffs.

The Dow shed 0.4 percent, the S&P 500 slid 0.2 percent and the tech-heavy Nasdaq Composite finished marginally lower.

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, amid easing trade war tensions between the US and China after the two superpowers began high-level trade talks in London, with negotiations expected to continue on Tuesday. The tariff war between the two countries has already rattled the global economy.

RTTNews | 25分钟前

Sensex, Nifty Seen Higher At Open As Sino-US Talks Continue

Indian shares look set to open on a positive note Tuesday as top officials from the U.S. and China continue their trade talks for a second day today to resolve their differences and ease tensions over rare-earth minerals and technology shipments.

RTTNews | 52分钟前

Thai Bourse May Extend Losing Streak

The Thai stock market has ticked lower in back-to-back sessions, slipping more than 5 points or 0.4 percent along the way. The Stock Exchange of Thailand now rests just above the 1,135-point plateau and it may take further damage on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.

RTTNews | 1小时23分钟前

Japanese Market Notably Higher

The Japanese stock market is trading notably higher on Tuesday, extending the gains in the previous two sessions, following the mixed cues from Wall Street overnight, with the Nikkei 225 moving up to near the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks were the only weak spot.

RTTNews | 1小时45分钟前

Lower Open Anticipated For Indonesia Stock Market

Ahead of the long holiday weekend for Eid-al-Adha, the Indonesia stock market had moved higher in back-to-back sessions, gathering almost 70 points or 1 percent along the way. The Jakarta Composite Index now rests just above the 7,110-point plateau although it's likely to open under pressure on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference. The JCI finished modestly higher on Thursday following gains from the financials and mixed performances from the resource and cement companies. For the day, the index added 44.39 points or 0.63 percent to finish at 7,113.42 after trading between 7,083.89 and 7,136.64. Among the actives, Bank CIMB Niaga sank 0.87 percent, while Bank Mandiri climbed 1.00 percent, Bank Negara Indonesia spiked 2.79 percent, Bank Central Asia shed 0.56 percent, Bank Rakyat Indonesia collected 0.49 percent, Indosat Ooredoo Hutchison added 0.48 percent, Indocement advanced 0.98 percent, Semen Indonesia tumbled 1.79 percent, Indofood Sukses Makmur dropped 0.91 percent, United Tractors perked 0.12 percent, Energi Mega Persada plunged 4.24 percent, Astra Agro Lestari retreated 1.26 percent, Aneka Tambang tanked 2.82 percent, Vale Indonesia plummeted 4.13 percent, Timah rallied 2.07 percent, Bumi Resources soared 2.50 percent and Astra International and Bank Danamon Indonesia were unchanged.

RTTNews | 1小时53分钟前

Hong Kong Shares Tipped To Open In The Red On Tuesday

The Hong Kong stock market bounced higher again on Monday, one session after ending the three-day winning streak in which it had rallied almost 750 points or 3.5 percent. The Hang Seng Index now sits just above the 24,180-point plateau although it may hand back those gains on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.

RTTNews | 2小时8分钟前

Australian Market Notably Higher

The Australian stock market is trading notably higher on Tuesday, reversing some of the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,550 level, with gains across most sectors led by technology and energy stocks. Gold miners were the only weak spot.

RTTNews | 2小时13分钟前

China Stock Market Due For Consolidation On Tuesday

The China stock market has finished higher in five straight sessions, advancing more than 50 points or 1.5 percent along the way. The Shanghai Composite Index now sits just beneath the 3,400-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.

RTTNews | 2小时23分钟前

EURUSD	1.14005	GBPUSD	1.35389	AUDUSD	0.6521
USDJPY	144.876	USDCAD	1.37053	USDCHF	0.82279

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Asian Shares Fall As Trade Tensions Weigh