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Asian Market Drop

Asian Market Drop, US Threaten to Raise Import Duty – Morning Talk – Tuesday, May 07

Stock markets in Asia, especially in Asia, dropped sharply on Monday. When US President Donald Trump threatened to raise duty on imports from China at such times. When many investors were relaxed on trade tensions between the two countries. Were doing banking.

Trump was told via Twitter that investors started a new week. Because they planned to increase the duty on imports from China to 10% by 25% on Friday. Saying that trade talks with China were moving very slowly. They also said that they would charge $ 325 billion worth of products from China, accounting for all its exports.

They said: “Trade deal with China continues, but very slowly, as they try to reconstruct.”

In Asia, that sentiment promptly knocked down, where the Shanghai Composite Index closed 5.6% lower at 2,906.46 after falling more than 6% in the first session. The Hang Seng index of Hong Kong closed at 2.9% to 29,209.82.

It has been sold in the European session and it is expected that the weight of American shares on the bell will be weighted.

In Europe,

CAC 40 in France was down 2% at 5,441, while Germany’s DAX was at 1. %% to 12,1ACAC. London’s markets were closed for bank holidays American shares were also leading to a lower opening with Dow Futures and both S & P 500 futures were down 2%.

On Sunday, as a comment by Trump, a Chinese delegation was due to resume talks in Washington on Wednesday, which aims to solve the tariff battle prevailing in the world markets.

The Wall Street Journal citing unidentified sources said that the Chinese government was considering canceling this week’s talks. But Chinese Foreign Ministry spokesman Geng Shuang said on Monday that the delegation was still planning to go. He will not say absolutely no one who can join the talks.

Although Trump’s tweets have weighed the market’s perception on Monday, there is a prevailing idea that a deal will be done.

“Trump’s strategy is risky, because Chinese can refuse to negotiate at the tip of the gun and decide to exit on business negotiations, both sides have given a lot of political capital investment Raul Leering, the international head said, “Raul Leering, the international head said. Business Analysis on ING

Somewhere else in Asia on Monday, the A-share index on China’s small market in Shenzhen fell 7.4 percent. Japan’s markets were closed for a holiday, but the future contracts for the benchmark Nikkei 225 index declined by 2.4%.

Stocks also swelled rapidly in Taiwan, Singapore, Australia and Indonesia.

Revived tension on trade reduced oil prices. In the electronic trading on the New York Mercantile Exchange, the benchmark American crude rose 36 cents or 0.6% to $ 61.58 a barrel. At the international level, Brent crude traded up by 21 cents, or 0.3%, to $ 70.64 a barrel. It rose 10 cents to $ 70.85 a barrel on Friday.

In the currency markets, the euro was flat at $ 1.12, while the dollar dropped 0.3 percent to 110.80 yen.

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About Dwipen Gogoi

Dwipen Gogoi, MBA (IB and IT) and PGDFT from Pune. (Technical Analyst of AliceBlue) I am a You Tuber, Blogger and doing Technical Analysis last 10 years in Stock, Commodity and Forex Market. i am creating various trading strategies for day traders, swing traders, scalp traders.

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