[ad_1]
Tokyo – Stock markets and commodities rebounded slightly on Thursday, as markets seek to consolidate after heavy losses in the previous session, as fears of escalating US-China trade war shook investor sentiment. Pacific ex-Japan shares edged up 0.05%. The index fell 1% on Wednesday with a fall in global stocks after US President Donald Trump's threat to impose tariffs on $ 200 billion worth of Chinese goods widened the gap between the two most world's largest economies
% and the Shanghai Composite Index rebounded 1.1%. Australian stocks rose 0.7%, South Korea's Kospi 0.35% and Japan's Nikkei 1.1%
showing a slightly higher opening of Wall Street shares later in the day, the futures S & P 500 and Dow Jones by 0.3%
"Markets have had time to digest the latest developments in the trade war and are about to begin to consolidate. reaction to each new development and hopes that trade tensions will ease over the coming months through negotiations, "said Masahiro Ichikawa, chief strategist at Sumitomo Mitsui Asset Management.
The focus has been on the upcoming potential steps in the tit-for-tat trade dispute. "Retaliation options available to China include boycott of US products, brutal devaluation of the yuan and sale of US Treasury badets", was he added, wrote Xiao Minjie, senior economist at SMBC Nikko Securities in Tokyo
"But we believe that none of these moves is realistic or productive … the wisest move to our notice is for China to accelerate the opening of its market rather than continue to The dollar was buoyant, supported by rising trade tensions and strong US inflation data on Wednesday.
The dollar index against a basket of six major currencies was steady at 94.765 after gaining 0.6% overnight.
Against the yen, which usually wins in times of political turmoil and market turmoil, the greenback stretched its rally overnight and reached ¥ 112.355, its highest level since January.
managed to win, even against the yen, because of persistent trade concerns, as commodity currencies slipped with the decline in commodities and raised the dollar, "said Ichikawa at Sumitomo Mitsui. Asset Management
.Discounted currencies such as the Australian dollar suffered heavy losses on Wednesday.The Australian dollar remained stable at C $ 1.3212 against the US dollar after a loss of 0.75% the day before. Brent crude rose 1.35% to $ 74.38 a barrel after falling 6.9% overnight, the largest single-day decline since February 2016, with trade tensions threatening to rebound. oil demand and announcing that Libya
Copper on the London Metal Exchange rose 0.5% to $ 6,175.00 per tonne Industrial metal sank by nearly 3% Wednesday, plunging its lowest year-round level of $ 6,081.
Reuters
[ad_2]
Source link
