Asian stocks dip after US presidential debate; Chinese shares at 7-mth low

Investing.com-- Most Asian stocks fell on Wednesday amid uncertainty over what is shaping up to be a hotly-contested U.S. presidential race, while concerns over trade saw Chinese markets hit a seven-month low.

Wall Street indexes clocked some gains on Tuesday as technology stocks rebounded from recent losses. But U.S. stocks, along with global markets, were nursing steep losses over the past week. Sentiment towards China was battered by progress in a U.S. bill that plans to restrict business with Chinese biotechnology companies. The House of Representatives almost unanimously voted in favor of the bill on Monday.

Sentiment towards China was also rattled by Trump reiterating plans to impose increased trade tariffs against the country.inflation reading due later on Wednesday, which is widely expected to factor into the outlook for interest rates. The reading is expected to show inflation eased slightly in August.Diminishing expectations for a 50 bps cut had rattled stock markets last week, amid some signs of resilience in the U.S. economy.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Chinese consumer companies have a ‘disproportionate' advantage over Asian peers in winning the global marketChinese brands turning to global markets for growth have a major advantage over the first wave of Asian businesses: a large ethnic Chinese diaspora.
Source: NBCNewYork - 🏆 270. / 63 Read more »

Stock market today: Asian shares echo Wall Street rally as investors gauge inflation dataAsian shares are trading mostly higher after a rally on Wall Street that regained some of the losses from the market’s worst week in nearly a year and a half.
Source: wjxt4 - 🏆 246. / 63 Read more »