Asian Stocks Slide As The Trade Impasse Continues—Report


Asian stock market was on a decline this Thursday and the country that suffered the most was Japan. This has led to the renewal of threat to the trade. Nikkei 225 saw a drop of 1.97% and closed at 21,046.24. Shares of some index heavyweights like Fanuc and Softbank saw a decline of 1.97% and 2.41%, respectively. Topix also dropped 2.11% and at the end of the day it closed at 1,534.27.

Japan saw a decline of 6.7% in their export in June as compared to last year which is more than the expected total of 5.6% drop.

China also saw a decline in market with Shanghai Composite that declined 1.04% to 2,901.18. Shenzhen components and Shenzhen composite also faced a decline of 1.58% and 1.633%, respectively, with their day ending at 9154.65 and 1548.64 respectively.

Korean market saw a very small decline with Korean Won ending their day at 1178.35 against the dollar. This is their all time lowest point.

From the totality of it the Asia ex-Japan saw a decline of a total of 0.32%

According to reports from Australia, there has been a disappointing decline in the number of jobs created in the current month. It was expected that a total of 10,000 jobs will be created in Australia against which a total of only 500 jobs were actually created; this has rose concerns about the unemployment in Australia.

The recent trade tensions between China and America just got renewed amongst all this mess in the market, President Trump stating that there are still a lot of things to consider before we can reach an agreement with China. He also mentioned that China can face tariff on their existing goods in American market which may total upto 325 billion dollars.

US dollar index faced a decline as well as their day ended at 97.119 from an early high of 97.210.

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