Sunday, 21 April, 2019

Asia markets on course to end upbeat week with losses

Published on: 3:27 pm - Friday | August 10, 2018

Most Asian markets dipped on Friday after a broadly positive week as traders await the latest developments in the China-US trade row, while the dollar retained its strength ahead of a key inflation report.

After last week’s turmoil, the past five days have seen investors a little
more positive as they took in stride tit-for-tat threats of tariffs from the
world’s top two economies, though the fears of an all-out trade war are
keeping everyone on their toes.

In morning trade Hong Kong was up 0.1 percent, extending gains into a fifth
straight day, while Shanghai gained 0.2 percent. Wellington and Jakarta were
also higher.

But Tokyo shed 0.5 percent by the break despite data showing the Japanese
economy grew more than expected in the second quarter. The outlook was dimmed by concerns about a trade war with the United States.

Sydney was down 0.1 percent, Singapore shed 1.3 percent and Seoul dropped
0.6 percent.

The tepid performance followed a broadly negative lead from Wall Street.

With few major catalysts in the trade stand-off, focus is now on the
release later in the day of US consumer price index data for July, which will
give an idea about price pressures across the country and help guide the
Federal Reserve in its interest rate plans.


– Key figures at 0230 GMT –

Tokyo – Nikkei 225: DOWN 0.5 percent at 22,494.33 (break)

Hong Kong – Hang Seng: UP 0.1 percent at 28,628.07

Shanghai – Composite: UP 0.2 percent at 2,800.96

Euro/dollar: UP at $1.1531 from $1.1529 at 2100 GMT

Pound/dollar: UP at $1.2833 from $1.2826

Dollar/yen: DOWN at 110.89 yen from 111.09 yen

Oil – West Texas Intermediate: DOWN seven cents at $66.74 per barrel

Oil – Brent Crude: DOWN 13 cents at $71.94 per barrel

New York – Dow Jones: DOWN 0.2 percent 25,509.23 (close)

London – FTSE 100: DOWN 0.5 percent at 7,741.77 (close)






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