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(MENAFN – AFP) Most Asian markets fell on Tuesday as investors soothe after a recent rally and waiting for the start of the corporate earnings season.
Wall Street provided another record advance, as the Fed's expected interest rate cuts continue to fuel optimism, as key Chinese and US traders plan to hold new business talks over the phone this week.
Tokyo dominated the losses by reopening after a long weekend, the Nikkei ending the morning down 0.7%, hit by a stronger yen. Shanghai, Hong Kong and Sydney also posted losses after hovering at the start of their operations.
Wellington and Manila were also down, but Singapore, Seoul, Taipei and Jakarta have all progressed.
The publication of the company's results, launched this week in the United States with the attention of JPMorgan Chase, Netflix and Johnson & Johnson, is among the featured headlines.
However, profits should be lower than last year, driven by a global slowdown, weak demand in China, trade war and a relatively strong US dollar.
US Treasury Secretary Steven Mnuchin said on Monday that key US and Chinese trade negotiators are expected to talk by phone in the coming days, but no face-to-face interviews have been scheduled.
"In the absence of significant progress since the resumption of trade talks at the G20 parallel meeting late last month, markets will slowly begin to fear that a catastrophic scenario from another slice US tariffs come to China, "said Edward Moya, Senior Market Analyst at OANDA.
"The effects of the trade war between the United States and China will continue to weigh particularly heavily on Asia."
Dealers are also monitoring Beijing for whether it is unveiling an economic stimulus package, data released Monday showing growth in the second quarter at its slowest pace for nearly three decades.
But Bob Doll, of Nuveen Asset Management, warned that markets remained volatile.
"We are concerned about complacency because investors seem to believe that the Fed will save the situation, that the trade dispute between China and China will be settled fairly quickly and that a mbadive economic recovery in China will boost global growth." , did he declare.
"We think this combination is a big challenge, so market risks are more downward."
– Key figures around 02:30 GMT –
Tokyo – Nikkei 225: down 0.7% to 21,526.21 (break)
Hong Kong – Hang Seng: down 0.1% to 28,514.09.
Shanghai – Composite: down 0.2% to 2,936.29
Euro / dollar: up to 1,1260 USD against 1,1258 USD at 21:00 GMT
Pound / Dollar: Decrease to $ 1.2514 from $ 1.2516
Dollar / yen: up to 107.96 yen from 107.87 yen
West Texas Intermediate drops five cents to $ 59.53 a barrel
Brent from the North Sea: 5 cents to 66.43 dollars a barrel
New York – Dow: 0.1% increase to 27,359.16 (closing)
London – FTSE 100: 0.3% increase to 7,531.72 (closing)
– Bloomberg News contributed to this story –
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