Asian stocks move lower Monday as markets react to failed U.S.-China trade talks in Washington

Shares dropped more than 1% in Shanghai, to 2,909.60. Japan’s Nikkei 225 index NIK, -0.52% lost 0.5% to 21,237.71 and the S&P ASX 200 SKJJF, -3.15% declined 0.3% to 6,289.70. South Korea’s Kospi SEU, -1.07% fell 0.7% to 2,093.46. Hong Kong’s markets were closed for a holiday. Shares fell in Taiwan and most of Southeast Asia.

President Donald Trump said on Twitter over the weekend that “We are right where we want to be with China.” He accused China of “ripping off” America. “The lack of resolution in the latest U.S.-China trade talks coupled with continued provocative tweets from President Trump provides no relief for risk sentiment as we look to another weak start to the week for Asia markets,” Jingyi Pan of IG said in a commentary.

Bond prices fell. The yield on the 10-year Treasury note TMUBMUSD10Y, -1.15% rose to 2.47% from 2.45% late Thursday.

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Asian stocks, yuan fall as U.S.-China seen deadlocked in trade talksU.S. stock futures fell and Asian shares slipped on Monday on growing uncertaint... trade war is a lose lose game. This is part of the Art of the Deal that Trump forgot to write about. Managing High Finance and Trade are not in his skill set. He is a Flim-Flam artist and the Chinese are not stupid or Putin or Kim Jung-Un. Kim asked for $2 million for Otto Warmbier UP Front. Another Trump Lie? Any fall in yuan will soften the harm to Chinese exports to U.S! Then U.S will blame China for currency manipulation! What happened to free market ideology of American conservatives?
Source: Reuters - 🏆 2. / 97 Read more »