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

Asian markets sag on trade war fears, dollar buoyant

MSCI`s broadest index of Asia-Pacific shares outside Japan fell 0.25 percent. The index slumped 1 percent on Wednesday along with a slide in global equities after U.S. President Donald Trump`s threat of imposing tariffs on another $200 billion of Chinese goods deepened the trade row between the world`s two largest economies.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Asian markets sag on trade war fears, dollar buoyant
Brent crude rose 0.7 percent to $73.93 a barrel after tanking 6.9 percent overnight. Image source: Reuters
Written By: Reuters
Updated: Thu, Jul 12, 2018
08:43 am
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 stocks remained under pressure on Thursday from fears of an escalation in the U.S.-China trade war, while the dollar stood stall after rallying against its peers amid the turmoil in broader markets.

MSCI`s broadest index of Asia-Pacific shares outside Japan fell 0.25 percent.

The index slumped 1 percent on Wednesday along with a slide in global equities after U.S. President Donald Trump`s threat of imposing tariffs on another $200 billion of Chinese goods deepened the trade row between the world`s two largest economies.

Australian stocks rose 0.35 percent, South Korea's KOSPI was flat and Japan`s Nikkei gained 0.75 percent.

"The markets had some time to digest the latest trade war developments and are poised to begin consolidating. It has become a pattern of reacting to each new development and hoping that trade strains ease in the next few months through negotiations," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management.

The dollar was buoyant, supported by mounting trade tensions and strong U.S. inflation data.

The dollar index against a basket of six major currencies was steady at 94.703 after gaining 0.6 percent overnight.

Against the yen, which usually gains in times of political tension and market turmoil, the greenback rallied 0.9 percent on Wednesday to touch a six-month high above 112.00 yen.

"The dollar has managed to gain even against the yen due to ongoing trade concerns, with commodity-linked currencies having slid along with the downturn in commodities and providing a broad lift for the dollar," said Ichikawa at Sumitomo Mitsui Asset Management.

Commodity-linked currencies such as the Australian dollar suffered deep losses on Wednesday. The Aussie traded little changed at $0.7366 after dropping 1.2 percent overnight.

WATCH ZEE BUSINESS VIDEO HERE

The Canadian dollar was steady at C$1.3208 per dollar following a loss of 0.75 percent the previous day.

The euro was flat at $1.1675 after shedding 0.6 percent on Wednesday.

In commodities, U.S. crude futures inched up 0.25 percent to $70.57 a barrel after tumbling 5 percent the previous day as trade tensions threatened to hurt oil demand and news that Libya would reopen its ports raised expectations of growing supply.

Brent crude rose 0.7 percent to $73.93 a barrel after tanking 6.9 percent overnight.

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 markets
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

SBI loan against shares: Check eligibility, minimum and maximum loan amount, processing fee and other details

On Women's Day, don't fall for this WhatsApp scam | Check NOW

MTAR Technologies IPO Subscription details: Retail investors expect bumper listing

Gold Price Outlook – Gold falls by Rs 280 on Monday, Silver falls by Rs 128; expert see bounce back, recommends buy on dips

Trinamool Congress seeks adjournment of Parliament session, cites elections in five states

Reactions to Prince Harry and Meghan Markle's TV interview with Oprah Winfrey

PUBG Mobile 1.3 global update: APK download link, check expected release date and more!

CBSE, CISCE board exams 2021: Education Minister talks about exam fever, how to score good marks, PM Modi's Pariksha pe Charcha 2021 and more

Alert! WhatsApp may stop working on these smartphones | Is your phone on list? Check details NOW

Happy International Women's Day: Check best WhatsApp wishes, quotes, messages fo your loved ones

  • 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