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Asian stoke markets fall after new US tariffs on China

2019-08-02 02:43 am | Resource: News | No Views : 41

 Asian stoke markets fall after new US tariffs on China

Asian markets fell on Friday after US President Donald Trump announced new tariffs on Chinese goods. "We will impose a tax on China's overseas hell" until an agreement is reached, Trump said.

Trump: We'll tax China

US President Donald Trump said the United States will continue to impose new tariffs on China until a comprehensive trade deal is reached.

Trump said at a rally in Cincinnati, after announcing new tariffs on China, that the United States "will impose a tax on the hell out of China until an agreement is reached." Earlier, Trump said that the latest tariffs on Chinese goods can reach 25% is required.

North Korea tests new unidentified projectiles

On the political front, North Korea fired short-range unidentified missiles off its eastern coast, Yonhap reported on Thursday, quoting the Joint Chiefs of Staff of South Korea. US-based media sources confirmed the report, quoting intelligence sources in Washington.

Asked what the White House administration would do on the issue, US President Donald Trump said the situation was "largely under control" and refused to elaborate further. Trump also stated that the missiles in question were short-range missiles not covered by Kim Jong-un.

This will mark a third missile test carried out by Pyongyang in the past seven days. Yesterday, North Korea fired unidentified projectiles that flew about 250 kilometers before falling into the sea.

Asian stocks trading
  • The Shanghai Composite Index fell 1.50% at 4:05 am CET.
  • Shenzhen Composite also traded 1.62% at the same time.
  • South Korea's Kospi Composite Index also fell 1.02% at 06:06 CET.
  • The Nikkei average fell 2.14% at 4:07 CET.
  • Hong Kong's Hang Sang Index dropped 2.22% at 4:08 am CET.
  • The Australian S & P / ASX 200 Index was down 0.33% at 4:09 CET.

The dollar traded 0.18% against the yen, to go against 107.1505 at the same time.

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