Marketwatch: Asian Stocks Fragile on Trade War
- Asian shares on Tuesday recovered early losses but its gains appeared fragile amid the escalating trade war.
- The US major indexes sharply declined after the announcement of Washington concerning the implementation of tariffs with the remaining Chinese imports.
- Taiwan stocks reached higher at a trade close.
MARKETWATCH – On Tuesday, Asian shares made a recovery of its initial losses. Further, it slowly moved higher amid the new attempt of China in stabilizing its stock market. However, the increase in Asian shares appeared fragile as US-China trade war escalates.
There was a sharp drop in the US major indexes following the preparation of the United States regarding its announcement. It was about the implementation of tariffs with all the remaining Chinese imports by early December. This will happen if the talks between Donald Trump and Xi Jinping next month will pause.
Trump increased the possibility of the said move previously but he did not indicate a timeframe.
In the morning trade, the Asia-Pacific shares’ MSCI’s broadest index outside Japan went back and forth in the negative territory. Moreover, during midday, it increased by 0.2%.
Meanwhile, both the Shanghai Composite and the blue-chip CSI 300 went uneven. They dropped in an early trade and have made an increase of 0.7% and 1% respectively during midday.
According to the securities regulator of China, it would invite share buybacks and mergers and listed firms’ acquisitions. Moreover, there’s a possibility that it would improve the liquidity of the market. This is in relation to the recent attempt to put a floor under the slipping equity markets of the country.
Additionally, the Nikkei average of Japan was able to recover early losses and made a 1.3% increase.
Marketwatch: Taiwan stocks records higher at trade close
On Tuesday, Taiwan stocks reached higher at a trade close. Its gains in sectors such as Trading & Consumer Goods, Rubber and Cement have lifted the shares higher.
The Taiwan Weighted increased 0.10% at a trade close.
Career Technology MFG Co, Gold Circuit Electronics, and Arima Communications Corp were the best performers of the Taiwan Weighted. In the Career Technology MFG, there was a 9.89% increase or 3.55 points to trade at 39.45 at the close. Gold Circuit Electronics jumped 8.35% or 0.76 points to close at 9.86. Lastly, Arima Communications Corp added 8.28% or 0.24 points to 3.14 in late trade.
Meanwhile, Pharmally International Holding Co Ltd, ChipMOS Technologies, Chilisin Electronics Corp were the worst performers in the session.
On the Taiwan Stock Exchange, the declining stocks exceeded the advancing ones by 442 to 358 and 107 ended unaffected.
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