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Asian markets fall due to the impending US-China trade conflict

2019-08-06 06:45 am | Resource: News | No Views : 36

Asian markets fall due to the impending US-China trade conflict

Asian stocks traded in losses on Tuesday as the US Treasury Department said it would deal with the International Monetary Fund to press Beijing on what it sees as "currency manipulation." The Chinese yuan fell to less than 11 years after US President Donald Trump called for a 10 percent tariff hike against $ 300 billion on imports from China.

Japanese Competition Commission Check with Apple

Japanese media reported on Tuesday that the Japanese Fair Trade Commission (FTC) is investigating technology giant Apple. Because of pressure on Japanese spare parts manufacturers.

A study by the Japanese Fair Trade Commission revealed that Apple had signed contracts forcing companies to provide free technology and know-how to manufacture the pieces, Mainichi said. Companies that considered this a violation of their intellectual property rights and demanded a review, Apple threatened them with the possibility of a business relationship with these companies. The Federal Trade Commission was examining whether the Cupertino-based company had misused its dominant position in breach of competition rules and antitrust.

Reports ended a less than excellent day for Apple after it saw its shares fall more than 5% on Monday when the market closed. The media also reported earlier that the company is under scrutiny in the United States as well as because of its direct sale of devices on Amazon's network.
  • The Nikkei 225 index fell 0.78% at 7:42 am CET,
  • In mainland China, the Shanghai Composite Index lost 1.44% at 7:44 am CET.
  • Shenzhen Composite Index fell 1.24% at the same time.
  • Hong Kong's Hang Sang fell 0.98% at the same time.
  • South Korea's Kospi Composite fell 0.82% at 7:26 am CET,.
  • Australia's S & P / ASX 200 fell 2.43% at 7:46 am CET.

 Where the dollar rose 0.73% against the yen to 106.7195 at the same time.


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