Asian stocks rebound from five-week minimum
On Tuesday, Asian stocks rallied from five-week minimums, although remained quite fragile right after American leader’s latest threat to lift levies on Chinese exports affected financial markets and drove fears that trade negotiations might be derailed.
As a matter of fact, MSCI's index of Asia-Pacific stocks managed to tack on by up to 0.1%. It headed south by 2% on Monday after Trump suddenly put pressure on the Chinese government in the midst of trade talks.
Eventually, Chinese stocks staged a moderate technical rebound, although stayed choppy after their worst dive for more than three years on Monday. Additionally, the benchmark Shanghai Composite gained 0.5%, while the blue-chip CSI 300 tacked on by about 0.7% and Hong Kong's Hang Seng tacked on by 0.3%.
Besides this, Japan's Nikkei went down by 1.5%, taking a delayed hit because Japan’s financial markets started on Tuesday following a 10-day break to mark the ascension of a fresh emperor.
Financial spread-betters hope that London's FTSE, Paris's CAC, and Frankfurt's DAX will head south 0.1%-0.3% when they start.
American stock futures for the S&P 500 headed south by 0.8% in Asian trading hours on Tuesday due to the fact top American statesmen told China had backtracked on commitments in trade negotiations.
On Sunday, Trump posted on Tweeter that he’d have levies lifted on $200 billion worth of China’s goods from 10% to 25% by the end of the week and would target the remaining Chinese imports with levies in the near future, thus assisting traders to have risky assets dumped on Monday.
The chief investment officer at Libra Investments in Tokyo, Yasuo Sakuma is assured that shares have entered a fresh downtrend due to the fact traders had soaring doubts over whether America and China would cut a deal on trade soon.
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Market updates on June 18
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.