Asian share treads water as US-Mexico trade risk offsets rate cut hopes


by   |  VIEW 100
Asian share treads water as US-Mexico trade risk offsets rate cut hopes

On Thursday, the 6th of June 2019, a gauge of Asian shares experienced a muted response, after US President Donald Trump had tweeted on later on Wednesday (June 5th) that there had been little progress on trade talks between US and Mexico over the illegal immigrant issue.

Renewed trade tensions over Trump’s tariff hike on all of Mexican imports in the face of an already rumbling Sino-US trade spat, had toiled yesterday’s (June 5th) investors’ optimism over a growing bet on US Central bank’s interest rate cut.

MSCI’s broadest index of Asia-Pacific shares outside Japan had shed 0.01 percent, while Japan’s Nikkei 225 remained dithered. Besides, E-mini futures for the S&P 500 had shed 0.1 percent. In point of fact, Asian market seemed to hesitant after a meeting between US and Mexican negotiators had rounded off with little or no sign of progress, meanwhile analysts had been quoted saying that much was not expected, while Trump had been in Europe over D-Day ceremony.

Citing statistics, Japan’s Nikkei had wrapped up the day 0.01 percent lower to 20,774.04 after treading water for most part of the day, Hong Kong gained 0.26 percent to 26,965.28, while Bombay stock exchange (BSE) kept losing momentum following PM Narendra Modi’s oath-taking ceremony last week and lost 1.42 percent to 39,515.79 so far on Thursday’s (June 6th) intra-day trading (GMT.

09.00.), after breaching 40,000 mark for the first time in history over a landslide triumph of Indian PM Narendra Modi on May 23rd. So far, tech sectors had been the worst-performing on Thursday’s intra-day trading, although overall market-trend appeared to be flatlined.