Monday, 25 June 2018

  • Asia markets traded mixed on Monday morning as investors attempted to shake off jitters about trade tensions between the United States and China.
  • The dollar slipped against a basket of currencies, trading at levels near 94.534 after falling from levels above 94.8 in the previous week.

Asia markets were mostly down in early trade on Monday as investors attempted to shake off jitters about trade tensions between the United States and China.

In Australia, the benchmark ASX 200 traded fractionally lower at 6,223.4. Japan’s Nikkei 225 was down 0.25 percent while the Topix index fell 0.31 percent. Across the Korean Strait, the Kospi was down 0.61 percent.

On Sunday, President Donald Trump doubled-down on his rhetoric on Twitter, calling on other countries to end all trade barriers or face a new round of retaliatory measures.

The US dollar slipped against a basket of currencies as the dollar index traded at 94.534 falling from levels above 94.800 reached in the previous week. Still, the index was up from an earlier session low of 94.452. The People’s Bank of China set the Yuan reference rate at 6.4893 vs Friday’s fix of 6.4804. 

Oil prices were down Monday morning during Asian trade. U.S. crude fell 0.48 percent to $68.25 a barrel while global benchmark Brent slipped 2.17 percent to $73.91 after OPEC ministers announced a deal on Friday that will increase oil supplies from the oil cartel, following a week of tense negotiations in Vienna, Austria.

Source : Reuters

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