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SINGAPORE – Global stocks plummeted on Wednesday after Beijing rejected US plans for an additional $ 200 billion in Chinese exports, with tensions over the trade war between the world's two largest economies
percent at 5,368 and the FTSE 100 index of UK shares fell 1.2 percent to 7,600. DAX of Germany sank 1.3 percent to 12,440. US indices are set to open lower after a series of gains. Dow futures lost 0.9 percent and S & P 500 futures lost 0.7 percent.
ASIA: The Nikkei 225 lost 1.2 percent to 21,932.21 and Kospi lost 0.6 percent to finish at 2,280.62. Hang Seng of Hong Kong lost 1.3% to 28,311.69. The Shanghai Composite Index fell 1.8% to 2,777.77. The Australian S & P / ASX 200 fell 0.7 percent to 6,215.60
MORE US-CHINA RATES: The US Trade Representative said Washington was preparing to impose 10% customs on 200 billion dollars of Chinese imports. alarms with electric lamps and fish sticks. The office will make public comments and hold hearings on the plan before making a decision after August 31. The Chinese Ministry of Commerce has called the new wave of US tariffs "totally unacceptable" and is committed to protecting its fundamental interests. The Ministry did not give more details, but Beijing had previously threatened to take "global measures" if more tariffs were imposed. These measures follow a first set of 25% tariffs announced Friday by the United States on Chinese exports of 34 billion dollars, which has been reciprocal by China
ANALYST'S S TAKE: "Account given the scale and width of the tariff list to cross supply chains and cause collateral damage to regional economies, "said Zhu Huani of Mizuho Bank in a comment. However, she noted that the public comment period leaves time for further negotiations.
TESLA IN CHINA: Electric car producer Tesla announced last Tuesday that it would build its first factory outside the United States in Shanghai. This will make it the first fully foreign automaker in China. No financial details of the deal signed on Tuesday has been announced, but construction is expected to begin as soon as official approvals are available. The company hopes to eventually increase production to 500,000 vehicles a year. Tesla is part of the 25 percent additional import duty companies, imposed by Beijing in retaliation for a rise in Trump administration tariffs.
SKY BATTLE: Sky Plc pay TV operator London shares rose 1% to 15.16 pounds after 21st Century Fox rose Wednesday its offer for 61 percent of the company it do not control already. It raised its bid to 14 pounds ($ 18.58) per share, 12 percent higher than Comcast's latest offering and valuing Sky at 24.5 billion pounds ($ 32.5 billion). The increase in the price of the stock suggests that some investors believe that Comcast could launch a higher bid in return.
ENERGY: The benchmark US crude dropped 68 cents to $ 73.43 a barrel. It gained 0.4% to settle at $ 74.11 a barrel in New York. Brent crude oil, used for the price of international oils, lost between $ 1.90 and $ 76.96 per barrel
CURRENCIES: The dollar fell to 111.23 yen against 111.28 yen on Tuesday. The euro has weakened to $ 1,1707 from $ 1,1745.
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