Stocks Exchange: Asian Stocks Withdraws on Thursday Trade
STOCKS EXCHANGE – On Thursday, Asian stocks have withdrawn and declined as Chinese markets remained firm on risks from the ongoing US-China trade war, taking a minimal comfort from the easing North America and Europe’s business conflicts.
Spreadbetters anticipated that there would be an open mix in the European stocks along with the 1% decline of Britain’s FTSE and Germany’s DAX as well as France’s CAC rising to 0.05%.
On Wednesday, the officials from the United States and Canada stayed positive about the NAFTA negotiations potentially meeting the deadline of a deal on Friday. The deadline is days after the bilateral agreement of the US and Mexico.
However, the Asia Pacific shares’ MSCI’s broadest index outside Japan has made 0.3% decrease along with broad gains across the region offset by China’s losses.
The Shanghai Composite Index dropped to 0.9% and there was a 0.8% decline in the Hong Kong’s Hang Seng.
“Investors are relatively pessimistic and cautious for now amid low levels of trading volume, as there are still concerns over the development of the Sino-U.S. trade spat,” China Fortune Securities Analyst Yan Kaiwen said.
In the upcoming months, there would be another set of US tariffs that will be imposed to $200 billion worth of Chinese goods.
Meanwhile, Australian stocks went effectively flat. Japan’s Nikkei reached a three-month high after gains on Wall Street. However, it cut gains and was last up to a modest 0.05%. The KOSPI of South Korea was a shade lower.
However, POSCO and Hyundai Steel, two of the major South Korean steelmakers, made gains following US President Donald Trump’s signed proclamation on permitting targeted relief from steel and aluminum quotas in South Korea.
On Wednesday, the US shares prolonged their rally along with the record high of the S&P 500 and the Nasdaq for four straight sessions as technology stocks lifted the indexes further high and NAFTA negotiations boosted confidence of investors.
Stock Exchange: Australian stocks touch further low at trade close
On Thursday, Australian stocks touched further low at the trade close as losses in sectors such as the Gold, Consumer Staples and Financials headed the shares lower.
The S&P/ASX 200 dropped 0.00% at the Sydney close.
TPG Telecom Ltd, Sandfire Resources NL, and Speedcast International Ltd were the best performers during the S&P/ASX 200 session. TPG Telecom Ltd increased by 18.02% or 1.420 points to end at 9.300. On one hand, Sandfire Resources NL gained 8.70% or 0.620 points to trade at 7.750 at the close. Speedcast International Ltd, on the other hand, increased to 5.92% or 0.235 points to close at 4.205.
Meanwhile, the worst performers during the session were Ramsay Health Care Ltd, Platinum Asset Management Ltd, and Atlas Arteria.
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