LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Asia stocks down as investors seek safe havens before Trump-Xi meeting

"We head into Tuesday on a distinct risk-off vibe, although the moves in equities are probably best described as `drift,` rather than a `spike` lower," Chris Weston, chief market strategist at IG in Melbourne, wrote in a note. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Asia stocks down as investors seek safe havens before Trump-Xi meeting
Visitors looks at an electronic board showing the Japan''s Nikkei average at the Tokyo Stock Exchange. Photo: Reuters
Written By: Reuters
Updated: Tue, Apr 04, 2017
08:13 am
Singapore, Reuters
RELATED NEWS
Asian shares hit all-time highs, oil buoyant Asian shares hit all-time highs, oil buoyant
Asian markets extend gains as sentiment improves on outlook Asian markets extend gains as sentiment improves on outlook
Asia shares make cautious gains after Wall Street rises as U.S. yields fall Asia shares make cautious gains after Wall Street rises as U.S. yields fall
Asian shares make cautious gains after choppy Wall Street session Asian shares make cautious gains after choppy Wall Street session
Asia shares mostly lower amid rising coronavirus cases, Washington turmoil Asia shares mostly lower amid rising coronavirus cases, Washington turmoil

Asian share markets were down in skittish early trade on Tuesday as investors held their breath ahead of a potentially tense meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping later this week. 

The dollar inched lower as investors sold stocks in Europe and on Wall Street overnight to seek shelter in safe havens as political uncertainty overshadowed positive U.S. economic data and solid growth in global manufacturing. 

MSCI`s broadest index of Asia-Pacific shares outside Japan fell 0.2 percent in early trade. 

Japan`s Nikkei was down 0.4 percent as investors sought out the safe-haven yen. 

China, Hong Kong, Taiwan and India are closed for holidays.

"We head into Tuesday on a distinct risk-off vibe, although the moves in equities are probably best described as `drift,` rather than a `spike` lower," Chris Weston, chief market strategist at IG in Melbourne, wrote in a note. 

Overnight, U.S. stock indexes closed in the red after Trump held out the possibility of using trade as a lever to secure Chinese cooperation against North Korea in an interview with the Financial Times on Sunday.

Last week, Trump tweeted that the highly anticipated meeting, which is also expected to cover differences over China`s strategic ambitions in the South China Sea, "will be a very difficult one." 

That has kept investors on edge, knocking riskier assets and forcing investors into safe-havens such as the yen and gold.

European markets hit a 16-month high on Monday but failed to hold on to the gains as risk aversion returned. The pan-European STOXX 600 index closed down 0.5 percent. 

Manufacturers across Europe and much of Asia had solid growth in May, making for a strong quarter overall, but the rise of U.S. protectionism are keeping both investors and companies wary. 

The euro was steady early on Tuesday at $1.06725. 

The dollar dropped 0.2 percent to 110.665 yen in its third straight session of losses.

The dollar index, which tracks the greenback against a basket of six trade-weighted peers, fell 0.1 percent to 100.46, although it touched a 2-1/2-week high earlier in the session after data showed U.S. construction spending grew 0.8 percent to $1.19 trillion - the highest since April 2006. 

The 10-year U.S. Treasury yield fell to 2.3247 in its third consecutive session of declines. It touched a five-week low of 2.321 overnight. 

In commodities, crude was steady after overnight losses on a rebound in Libyan output that exacerbated concerns about a glut. 

U.S. crude inched up to $50.27 a barrel. 

Gold prices hit a one-week high, benefiting from its status as a safe haven asset. 

Spot gold was trading almost 0.3 percent higher at $1,256.15. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
asian marketsNikkei 225Hang Seng IndexShanghai Composite IndexDonald TrumpXi JinpingWall StreetUS Crude Pricesgold pricesEconomyshares. marketsDollar Index
RELATED NEWS
Asian shares hit all-time highs, oil buoyant Asian shares hit all-time highs, oil buoyant
Asian markets extend gains as sentiment improves on outlook Asian markets extend gains as sentiment improves on outlook
Asia shares make cautious gains after Wall Street rises as U.S. yields fall Asia shares make cautious gains after Wall Street rises as U.S. yields fall
Asian shares make cautious gains after choppy Wall Street session Asian shares make cautious gains after choppy Wall Street session
Asia shares mostly lower amid rising coronavirus cases, Washington turmoil Asia shares mostly lower amid rising coronavirus cases, Washington turmoil

LATEST NEWS

CBSE Board Exam 2021 Latest News: Class 10, 12 students alert! Controller Dr. Sanyam Bhardwaj says this

Lockdown in Delhi? CM Arvind Kejriwal confirms this after review meeting

Vakeel Saab Review: What Superstar Mahesh Babu said for Power Star Pawan Kalyan blockbuster movie

Upstox customers alert! Very important security breach message for you from your broking firm

India leads US and China, administers 100 million COVID-19 vaccinations doses in 85 days

Vakeel Saab Collection: Blockbuster! Pawan Kalyan comeback movie sets box office on fire!

Aramco signs $12.4 bn infra investment deal with EIG-led consortium

Mentor Connect: Amazon India launches mentor programme for startups, emerging brands

MASSIVE! Top 10 best-selling smartphones: Apple grabs 6 places - These 3 iPhones contribute to 71% sales in Jan 2021

Indian Railway Stations Development Corporation (IRSDC) invites e-Request for Proposal (RFP) for this railway station development

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved