Asian markets go down abruptly

Asian markets go down abruptly

On Friday, Asian equities went down abruptly in early trade, suppressed by greater worries of a strengthening trade protectionism because Donald Trump rolled out fresh aluminum and steel tariffs, thus provoking another afternoon of heavy stock selling in America.

Trump’s fresh move, actually aimed at protecting American steelmakers, helped edgy traders to scale back their stock holdings.

In Japan, the Nikkei Stock Average NIK went down 2.9%, affected by the double whammy of trade concerns as well as yen revenues. For the last two days the Nikkei was deprived of 3%.

Worries about tariffs and trade overshadowed firm American manufacturing data and also applied downward pressure on the evergreen buck. It pushed the currency pair JPY/USD down to a reading of ¥105.93 versus the Japanese yen from Thursday’s reading of ¥106.80. It stepped up pressure on Japanese equities.

Dives turned to be less acute, with benchmarks in Hong Kong HIS as well as Singapore STI accounting for 0.99%, diving approximately 1%. Additionally, in South Korea Kospi headed south 1.4% after financial markets in this Asian country were unavailable due to a holiday.

As for China, financial markets in this country dived too, also reacting to Trump’s tariffs. Besides this, equities in Shanghai exactly where most of the Chinese heavy industrials are listed, headed south 1%.

The evergreen buck’s overnight dip also backed commodity prices in Asia. For instance, the global Brent crude benchmark managed to gain 0.4% being worth $64.09 per barrel having settled at its lowest value for more than two weeks. As for American gold futures, they gained 1%.

Japanese steel equities declined more than 3%.

Among major users of steel, South Korea’s car maker Hyundai Motor went down 4%.

In Australia S&P/ASX 200 decreased 1%.

On Friday, Indian markets are unavailable due to a holiday.     




Latest news

German exporters don’t care about stronger euro

German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday…

Japan's October machinery orders tack on

In October, Japanese machinery orders rebounded with a faster soar than anticipated, thus re-affirming the resilience of capital spending, which is a major driver in the Japanese economy's almost two-year expansion…

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera