Tuesday, 26 June 2018

  • Asian stocks declined in early Tuesday trade, tracking losses seen stateside.
  • Investors focused on U.S.-China trade tensions, with developments related to investment restrictions in the spotlight.
  • The dollar was steady after slipping in the previous session.

Asian markets declined in early Tuesday trade as investors digested fresh developments in an escalating trade dispute between the U.S. and China.

Japan’s Nikkei 225 fell 0.97 percent in early morning trade. Other major markets in Asia also put in poor showings, with South Korea’s Kospi sinking 0.82 percent and Australia’s S&P/ASX 200 edging down by 0.65 percent.

Declines in Asia tracked sharp losses seen stateside on Monday. U.S. stocks tumbled in the last session following weekend news that U.S. President Donald Trump intends to block some Chinese companies from investing in U.S. technology.

The Dow Jones industrial average fell 1.33 percent, or 328.09 points, to close at 24,252.80. European markets were weaker overnight on the back of investor concerns about trade tensions, with the pan-European Stoxx 600 closing lower by more than 2 percent.

In currencies, the dollar index was steady at 94.285 after slipping in the last session. The People’s Bank of China set the Yuan reference rate at 6.5180 vs. previous day’s fix of 6.4893. 

On the energy front, oil prices were steady after falling on Monday. U.S. West Texas Intermediate crude was little changed at $68.10 per barrel and Brent crude futures added 0.29 percent to trade at $74.95.

Source : Reuters

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