Asian stocks, yuan fall as Sino-U.S. trade talks deadlocked; investors await China retaliation

SYDNEY - U.S. stock futures and Asian shares fell on Monday on growing anxiety over whether the United States and China will be able to salvage a trade deal, after Washington sharply hiked tariffs and Beijing vowed to retaliate.

Investors are bracing for threatened “countermeasures” from China in retaliation for Washington’s tariff increase on Friday on $200 billion worth of Chinese goods. The move followed accusations by U.S. President Donald Trump that Beijing “broke the deal” by reneging on earlier commitments.MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.5%, nearing its two-month low marked on Thursday.

U.S. benchmark 10-year Treasury note yield inched down to 2.437%, partly as a safe haven but also on speculation that the escalating trade war would put more pressure on global growth and thus keep major central banks accommodative. “Our base case remains that a trade deal between the United States and China is likely. But news flow today suggests this could take more time and is unlikely to be concluded until late June,” said John Woods, Hong Kong-based chief investment officer of APAC at Credit Suisse AG.“Our base case is for limited progress and Chinese retaliation.

The offshore Chinese yuan fell to its lowest levels in more than four months at 6.88 to the dollar. It last stood down 0.5% at 6.852 per dollar. “If there is a lack of progress over the coming weeks, Asian currencies will come under further pressure,” noted Khoon Goh, head of Asia research at ANZ Research, while adding that his team does not expect the yuan will break the psychological 7 per dollar level.

The Chinese stock market collapses again !

وقال ترامب: 'تستمر المحادثات مع الصين بطريقة متجانسة للغاية - ليست هناك حاجة على الإطلاق للتسرع - حيث يتم دفع الرسوم الجمركية الآن إلى الولايات المتحدة من الصين بنسبة 25 ٪ على سلع ومنتجات..

Chinese stocks have been terrible lately

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian stocks move lower Monday as markets react to failed U.S.-China trade talks in WashingtonShares were mostly lower in Asia on Monday after trade talks between the U.S. and China wrapped up Friday without an agreement.
Source: MarketWatch - 🏆 3. / 97 Read more »

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 »