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Asian stocks recover part of the losses on Trump offer

2019-08-15 07:00 am | Resource: News | No Views : 27

 Asian stocks recover part of the losses on Trump offer

Market turmoil eased somewhat on Thursday in the Asian session after US President Donald Trump's offer to his Chinese counterpart Xi Jin ping for a "quick and humane solution" to the political crisis centered on Hong Kong. However, as Wall Street suffered the worst selling this year yesterday, investors interpreted the statement as an invitation to try to overcome bilateral disputes over trade, forced technology transfer, intellectual property theft and other issues.

Severe risk aversion began after disappointing economic data from China and Germany and the reversal of the Treasury yield curve. Moreover, annual rates of both export and import prices in the US remained in negative territory for the third consecutive month.

Japan's industrial production fell 3.8% in June year on year

Japan's industrial production fell 3.8% in June year-on-year, the Ministry of Economy, Trade and Industry said in its June final statement. Compared to May, industrial production fell 3.3%.

The Shipments Index was at 100.6, dropping 3.3% on a monthly basis. It reached 100.2 in June compared to the same month last year, dropping 4.2%. The seasonally adjusted inventory index was 104.6, up 0.3% month-on-month, while the original index was 104.9, up 2.9% year-on-year. Inventory ratio was reported at 109.4, up 2.8% from May, while rising by 6.3% compared to June 2018 with an index of 110.5.

 Asian shares trading
  • Markets in South Korea were closed for a holiday.
  • The Shanghai Composite fell 0.28% at 8:03 CET,
  • The Shenzhen Composite Index returned to positive territory, up only 0.05%. a
  • The Hang Sang rose 0.24% in Hong Kong at 8:18 am CET.
  • The Nikkei 225 fell 1.29% but the level was a daily low.
 
The dollar was steady at 105.925 yen, falling 0.18% to 7.04092 yuan overseas. Gold was marginally higher at $ 1,516.88 an ounce.


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