Emerging-markets stocks fall on US-China trade tensions

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 56 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 63%

Malaysia News News

Emerging-market stocks fall on US-China trade tensions

Bengaluru — Emerging-market shares fell on Wednesday as worries over the US-China trade conflict resurfaced. Currencies in the developing world mostly weakened as the dollar gained.

President Donald Trump said on Tuesday that the US had a long way to go to conclude a trade deal with China and could impose tariffs on another $325bn worth of Chinese goods if it thought they were necessary.South Korea’s Kospi slid nearly 1% and the won, Asia’s worst-performing currency this year, slipped further, amid a political and economic dispute with Japan and the possibility of a rate cut when the Bank of Korea meets on Thursday.

The rand slipped 0.2% a day before a central bank rate decision. Russia’s rouble gained as oil prices rose.Turkey started taking delivery of Russia’s S-400 air defence system last week, defying US warnings that doing so would mean the Pentagon would kick it out of the F-35 stealth fighter program and that it could be subject to sanctions.

“One thing we are keeping an eye on is any possible sanctions that the US may impose on Turkey,” said Jason Tuvey, a senior emerging-market economist at Capital Economics. “That would have a considerable impact on the markets, in particular the banking sector which is already vulnerable given its debt woes.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY

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.

Business Maverick: China Economy Slips to Record Low Growth Amid Stabilizing SignsChina’s economy slowed to the weakest pace since quarterly data began in 1992 amid the ongoing trade standoff with the U.S. But monthly indicators provided signs that a stabilization is emerging.
Source: dailymaverick - 🏆 3. / 84 Read more »