Sunday , September 27 2020

Asian markets are falling as Trump offers no new details on the deal


Asian markets fell in early trading on Wednesday, after President Donald Trump offered no further details of progress on the US-China trade deal.

In a speech in New York on Tuesday, Trump repeated the claim that the deal "could happen soon", but did not add specifics. Tariffs appear to be unstoppable, and Trump has again threatened to "raise tariffs unless we sign an agreement" and advocate US economic data.

Japan Nikkei

NIK, -0.90%

dropped by 0.8% and the Young Seng Index "Young Seng"

HSI, -1.94%

slipped 1.7%. Composite Shanghai

SHCOMP, -0.13%

sharply down 0.2% and lower cap Shenzhen Composite

399106, + 0.07%

increased by 0.1%. Buckets in South Korea

180721, -0.97%

dipped 0.9% while benchmark indices in Taiwan

Y9999, -0.41%

, Singapore

STI, -0.64%

and Indonesia

HAKIDX, -0.33%

refused. S&P / ASX 200 in Australia

XJO, -0.76%

New Zealand's NZX-50 fell 0.5%

NZ50GR, -0.83%

fell shortly after the country's central bank unexpectedly kept its official interest rate unchanged.

Among the individual actions, Nissan

7201, -0.03%

fell into trade with Tokyo, after reporting a 70% drop in business from the previous year and lowering revenue and profit prospects. Fast Retailing

9983, -1.82%

and Index

1605, -1.74%

also refused. In Hong Kong, real estate stocks such as the New World Development

17, -5.45%

, Real Estate Wharf

1997, -4.22%

and Blue Land Co.

83, -3.89%

were hammered as violent protests continued. LG Electronics

066570, -0.87%

withdrew to South Korea and Foxconn

2354, -1.20%

soaked in Taiwan. Beach energy

BPT, -5.10%

dropped in Australia.

Trump's comments "served as a reminder of the challenge facing both sides," IG Ingy Pan said in the report. However, she said, investors viewed them as "positional statements", reducing their impact.

The comments failed to endanger Wall Street, which closed with modest gains.

Hong Kong's actions have escalated with escalating violence in five months of anti-government protests. Protesters were shot dead Monday and others blocked streets and railroad tracks and set up petrol bombs at the University of Hong Kong.

Protests began in June over the proposed extradition law and have been increased to cover demands for greater democracy and other complaints. Already under pressure from weak global demand and the US and Chinese tariff war, Hong Kong plunged into its first recession in a decade.

On Wall Street, the benchmark S&P 500 index

SPX, + 0.16%

for the first time it rose to the level of 3,100, but the benefits did not hold. The index ended 0.2% at 3,091.84. Industrial average of Dow onesons

DJIA, + 0.00%

closed unchanged at 27.691.49. Nassadak

KOMP, + 0.26%

gained 0.3% to a record 8 486.09.

Market momentum has mostly been rising for more than five weeks as concerns about trade with the United States and China have diminished, among other factors.

Health care, technology and communications services gained gains on Tuesday, outstripping losses in power companies and elsewhere.

This week, the US Department of Labor is due to release consumer and wholesale inflation news. Economists expect a government report to show retail sales returned to growth in October.

Federal Reserve President Omer Jerome Powell is due to give congressional testimony Wednesday on the US economy. Most investors expect the Fed to retain interest rates for the first time since lowering it three times since the summer.

Benchmark US crude

CLZ19, -0.26%

lost 6 cents to $ 56.74 a barrel in electronic trading on the New York Stock Exchange. The deal fell 6 cents on Tuesday to close at $ 56.80. Brent cruel

BRNF20, -0.35%

, formerly priced at international oils, fell 10 cents to $ 61.96 a barrel in London. Draw 12 cents to $ 62.06 the previous session.

The dollar

USDJPY, + 0.04%

gained 109.06 yen from 109.01 yen on Tuesday.

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