SHANGHAI (Reuters) – Asian equity markets had to face a tough road on Friday, just hours before the US deadline to impose tariffs on Chinese imports, which has shaken financial markets in the past. recent weeks as investors feared that it could cause blown global trade war.
On Thursday, the president American Donald Trump confirmed that the United States would begin collecting tariffs on $ 34 billion in Chinese imports at 12:01 a.m. Washington time (0401 GMT) on Friday, and warned that subsequent rounds could see tariffs imposed to more than $ 500 billion in assets.
"The risk that a new escalation derails growth keeps some investors prudent," ANZ analysts said in a note on Friday.
The commercial dispute Sino-U.S. It has shaken financial markets, including stocks, currencies and global trade in soybean-based commodities in recent weeks.
The gains obtained during the night in European and United States actions, however, provided some comfort for the beginning of the Asian negotiation. MSCI's broader index of Asia and the Pacific shares out of Japan rose 0.05 percent, with some support from early gains in Korean and Australian equities.
Japan's Nikkei stock index rose 1.1 percent after closing at a three-month low on Thursday, while Australian equities rose 0.2 percent. The Kospi index of Seoul rose 0.2 percent.
In the Wall Street session on Thursday, the Dow Jones Industrial Average rose 0.75 percent, the S & P 500 0.86 percent and the Nasdaq Composite 1.12 percent.
U.S. and European stocks were boosted by reassuring economic data from Germany, and as shares in the automakers rose, German Chancellor Angela Merkel said she would back the European Union's tariffs on imports of US cars. after Washington offered to cut the rates.
But minutes fresh from the Federal Federal Reserve's last policy meeting on June 12 and 13 showed lawmakers whether the recession was lurking just around the corner and expressed concern that global trade tensions would affect an economy that by most measures seemed solid.
The yield on 10-year Treasury bonds was 2.8364 percent. The two-year yield, which increases with the expectations of the operators of higher Federal Reserve funds rates, touched 2.5527 percent compared to the US close. of 2,561 percent.
Gold, which is sensitive to the increase in interest rates, was flat. Spot gold is sold at $ 1257.63 per ounce. [GOL/]
The dollar fell slightly against the yen, falling 0.1 percent to 110.54.
The single currency rose by a hair on the day at $ 1,164, while the dollar index, which follows the dollar against a basket of six major rivals, fell 0.1 percent to 94,365.
Oil prices rose after falling in the US government data. UU They showed an unexpected jump in crude oil stocks.
U.S. Crude rose 0.2 percent to $ 73.08 a barrel. Brent crude also rose 0.2 percent to $ 77.52 a barrel.
Report by Andrew Galbraith; Editing by Shri Navaratnam