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Asian stocks closed lower due to uncertainty over trade relations

2019-06-12 07:00 am | Resource: News | No Views : 66

 Asian stocks closed lower due to uncertainty over trade relations

East Asian stocks closed negative trading on Wednesday as uncertainty over US-China trade relations looms. Yesterday, US President Donald Trump said he expected a meeting with Chinese President Xi Jinping at the G-20 summit by the end of June. If the meeting did not take place, the US president threatened to impose more tariffs on Chinese goods worth 300 billion dollars.

Meanwhile, the director of the US Economic Council Larry Kudlow said on Tuesday that Washington wants to "start where the negotiations stopped" last month in negotiations on a possible trade deal with China. Speaking to CNBC, Kudlo noted that "much progress has been made" in the talks and that 90% of the deal was made before "China starts to retreat."

Inflation in China is up to 2.7% in May

China's consumer prices rose 2.7 percent in May from a year earlier, according to a report by the National Bureau of Statistics, in line with expectations. On a monthly basis, prices were unchanged.

Compared to April, food prices rose by 0.2%, while gasoline and diesel prices rose by 2.0% and 2.2%, respectively. On an annualized basis, food prices rose 7.7%, followed by education, culture and leisure at 2.6%, health care, which added 2.5%, housing prices, and 1.8% rise. Meanwhile, the PPI rose 0.6% in May on an annual basis, and rose 0.2% from April.

Asian stocks close
  • The Nikkei 225 index fell 0.25% at 7:46 CET.
  • South Korea's Kospi Composite Index fell 0.21% at the same time.
  • The Shanghai Composite Index fell 0.45% at 8:05 am CET
  • While the Shenzhen Composite Index fell 0.73%. a
  • Hong Kong's Hang Chang Index fell 1.81% at 8:05 am CET.
  • The Australian S & P / ASX 200 was flat at the same time.

The dollar was down 0.17% from the yen at 8:12 CET, buying 108.3366 yen.

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