Asian markets are generally trading in red on US announcement on the move to impose 10% tariffs on USD 200B in Chinese goods. But after initial weakness, stocks are starting to recover.
- Shanghai SSE hit as low as 2758.91 and is now at 2792, down -1.25%.
- Hong Kong HSI hit as low as 28013.72 and is now at 28270, down -1.44%.
- Nikkei hit as low as 21744.25 and is now at 21891, down -1.38%.
Let’s see if the recovery could sustain. The key would be of whether SSE could regain 2800, or kisses it good bye.
In the currency markets. Dollar, as it happens recently, is benefiting from rising trade tension and is trading broadly higher. Yen also surges on risk version. But gains on both currencies are limited so far. Commodity currencies are the main casualties with Australian Dollar leading the way down.
