Asian stocks slip on trade war, pound rocked by Johnson’s election threat

by   |  VIEW 229

Asian stocks slip on trade war, pound rocked by Johnson’s election threat

On Tuesday, the 3rd of September 2019, a gauge of global stock indexes had pummelled on renewed frets of a Sino-US trade friction, as customs authority of Washington and Beijing had begun to collect additional duties on each other’s goods, meanwhile the British currency had been flirting around 2-½ year lows as UK’s new leader Boris Johnson had threatened to call for a snap election to avert a no-deal Brexit.

Besides, during preparation of this report, midday Asia-Pacific trading hours, MSCI’s broadest index of Asia-Pacific shares outside Japan shrugged off 0.2 per cent while Japan’s Nikkei 225 had been edged higher after remaining dithered for most part of the day.

Meanwhile, US Treasury bond yields were little changed in midday Asia-Pacific trading hours after a market holiday on Monday (Sept. 2nd), while addressing to a growing disbelief among investors over a near-term resolution of Sino-US trade spat, a senior strategist at Sumitomo Mitsui Trust Asset Management, Hiroyuki Ueno said, “We have so many problems around the world, starting from the U.S.-China trade war and Brexit.

But investors appear to be getting used to be exposed to them. No one really thinks Washington and Beijing will solve the issues. But as long as the U.S. economy keeps going, stock prices will have limited downside. ” Citing statistics, on Tuesday (Sept.

3rd), midday Asian trading hours, Mainland Shanghai’s SSE 50 was 0.21 per cent down to 2,888.77, while Hong Kong’s Hang Seng was flatlined at 25,606.03. Aside from that, ASX 200 added 0.18 per cent to 6,591.00 on evening trade, while New Zealand’s NZ 50 gained 0.75 per cent to 10,881.32 on Tuesday’s (September 3rd) market wind down.