Morning Report

Tuesday, 19 June 2018

  • Asian markets were mixed in early trade, with Japanese stocks lower and South Korean stocks largely flat.
  • U.S. President Donald Trump has requested for $200 billion in Chinese goods to be identified to be subject to additional tariffs at a rate of 10 percent.
  • U.S. stock index futures declined on the back of Trump’s Monday comments.

Asian stocks were mixed in early Tuesday trade after U.S. President Donald Trump fired a fresh salvo in the ongoing trade spat between the U.S. and China.

Trump said on Monday that he had asked the U.S. Trade Representative to identify $200 billion worth of Chinese products that will be subject to additional tariffs of 10 percent. Those tariffs will take effect if China did not “change its practices,” Trump added in a statement.

U.S. stock index futures were lower on the back of Trump’s comments, with Dow Jones industrial average futures down 152 points in early Asia trade. S&P 500 e-mini futures were lower by 0.57 percent.

On the commodities front, oil prices slipped after advancing on Monday. Analysts attributed the last session’s gains to reports that oil producers were discussing a smaller-than-expected increase in production.

Brent crude futures were lower by 0.4 percent at $75.04 per barrel and U.S. crude futures edged down by 0.41 percent to trade at $65.58.

Source : Reuters