Fri, Jul 30, 2021 @ 01:42 GMT
HomeLive CommentsLimited loss in Yuan and Chinese stocks as trade war escalation shrugged

Limited loss in Yuan and Chinese stocks as trade war escalation shrugged

The financial markets reactions to new round of US tariffs on China are so far rather muted. Nikkei is actually rising over 1% at the time of writing. Hong Kong HSI is down -0.72%, Singapore Strait Times is down -0.55%. China’s Shanghai SSE dipped to 2644.30 but recovered. It’s now trading down -0.12% only at 2648.5, still kept above 2638 key support level (2016 low).

In the currency markets, Dollar turns soft again after a brief lift from the trade war news. It’s trading as the weakest one together with Yen for now. Australian Dollar and New Zealand Dollar are the strongest ones.

USD/CNH (offshore Yuan) edged higher to 6.8930 earlier today but there is no follow through buying to push it through 6.8959 minor resistance yet.

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