[ad_1]
Date created:
Hong Kong (AFP)
Trade uncertainty weighed on Asian stocks Monday, at the start of a week marked by tighter talks between China and the United States in Beijing in order to avoid a further rise in tariffs.
Mainland markets reopened from their Lunar New Year holiday week to renewed concern over the trading sector and a series of bearish global growth forecasts.
Senior US economic officials are heading to the Chinese capital this week for the third round of talks, Thursday and Friday, during which preparatory talks between MPs were to begin Monday.
Failing to reach an agreement between the two economic superpowers before March 1, punitive US duties on $ 200 billion worth of Chinese goods would be more than doubled.
"There is a sense of urgency in this round," said Jeffrey Halley, Senior Market Analyst at OANDA.
He added: "If no agreement is reached by then, President Trump and the US Congress will be more than willing to prolong the trade war and China will have to take the first step if it wants to get a deal. relaxation."
According to badysts, the imposition of tariffs could weaken the global economy.
US President Donald Trump said last week that he was not expecting to meet his Chinese counterpart Xi Jinping before the deadline, while economist Larry Kudlow, of the White House, has said that Washington and Beijing were at a "considerable distance" from the discussions.
Hong Kong did not trade, while Seoul lost 0.1% and Sydney 0.4%.
But Shanghai edged up 0.2% after its week-long leave.
Tokyo was closed for holidays.
At the same time, the International Monetary Fund has warned governments to prepare for a possible economic "storm" as growth forecasts fall.
He cited the trade sector as one of four "clouds" obscuring the global economy, as well as uncertainties related to Brexit, the accelerated slowdown in China and financial tightening.
"In the end, we are seeing an economy grow more slowly than expected," IMF Managing Director Christine Lagarde told the world governments summit in Dubai this weekend.
The EU, Britain and Australia all reduced their growth forecasts at the end of last week.
The specter of a repeat of the 35-day US government partial closure that ended on Jan. 25 – the longest in the country's history – adds to the story. market anxiety.
Key Republican negotiator Richard Shelby has accused Democrats of being behind a new stalemate on immigration this weekend, in talks that have been defined by the demand Trump funds for the construction of a border wall.
Oil prices continued to fall, raising fears of increasing oversupply linked with record shale production in the United States, with the two largest contracts recording losses.
– Key figures around 02:40 GMT –
Hong Kong – Hang Seng: FLAT at 27,954.45
Shanghai – Composite: up 0.2% at 2,622.76
Tokyo – Nikkei 225: Closed for a holiday
Euro / dollar: APARTMENT at $ 1,1325 versus $ 1,1325 at 22:00 GMT Friday
Dollar / yen: up to 109.89 yen from 109.72 yen
Pound / Dollar: FLAT at $ 1.2937 from $ 1.2937
Oil – West Texas Intermediate: down 64 cents to 52.08 dollars a barrel
Oil – Brent: 58 cents down to 61.52 dollars a barrel
New York – Dow: DOWN 0.3 percent to 25.106.33 (end)
London – FTSE 100: 0.3% decrease to 7,071.18 (closing)
© 2019 AFP
Source link
