Yahoo Finance Asian Stocks Mixed in Afternoon as Trade Tension Lingers
Investing.com – Asian markets had mixed performance on Monday afternoon as trade jitters between U.S. and China continue to affect the equity market.
Japan’s Nikkei 225 and South Korea’s KOSPI picked up from morning trade, up by 0.31% and 0.21% at 2:12AM ET (5:02 GMT).
However, China’s stock markets experienced loss: the Shanghai Composite fell by 0.95% and the Shenzhen Component slipped by 1.96%, while the Hang Seng Index slid by 1.02%.
Australia’s S&P/ASX 200 is also in the red, with a 0.03% fall.
The U.S. stock market saw the fall of a few major players’ shares last Friday, including Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.
The drop came after U.S. President Donald Trump’s comments on the possibility of imposing tariffs on an additional $267 billion worth of Chinese goods.
“What’s striking is that escalating U.S. trade aggression suggests that the appeals of U.S. businesses, warning that tariffs will place burden of rising costs disproportionately on U.S. businesses and consumers, have been in vain on Trump’s administration.” said Mizuho Bank on Monday.
China responded last week that it would be forced to retaliate if the U.S. imposes the new tariffs.
As the global stock market is also affected by currency crises in emerging markets such as Turkey and Argentina, investors are waiting for the Argentine central bank’s interest rate decision on Tuesday after it raised the borrowing costs to 60 percent last month, the highest in the world. The bank vowed not to cut rates until December.
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