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Asian stocks tumble on Trump trade threat
On Friday, in Asia stocks declined. It’s because market participants took revenues after a strong week. Meanwhile, the Korean won slid, following Donald Trump’s remark that he would cancel or renegotiate trade deal with South Korea.
Germany's DAX, France's CAC 40 and Britain's FTSE 100 - all demonstrated a flat start, having closed lower on Thursday.
The major American currency grew 0.4% versus the Korean won, trading at 1,135.13 won, affected by Trump’s recent comments, finding the five-year-old trade pact with South Korea absolutely unacceptable. Trade tensions between Asia and America could remain. At least it follows from the won reaction.
Having started higher, South Korea's KOSPI index, managed to reverse its profits and declined 0.2%.
Outside Japan MSCI's broadest index of Asia-Pacific stocks slumped 0.15%, though it’s on track to conclude the trading week up 1.7% percent.
In Hong Kong the Hang Seng lost 0.2%, thus reducing the week's revenue to 2.3%.
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