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Asian Markets Close After US-China Talks End

2018-08-24 07:41 am | Resource: News | No Views : 270

The main markets in East Asia were mixed on Friday after trade talks between Washington and Beijing ended without clear progress. Meanwhile, inflation in Japan was up 0.9% yoy in July. In Australia, markets in the Green Zone were closed and Scott Morrison, the country's treasurer, received support from his party to take over the country's lead role as prime minister.

China will continue to react to the decisions to raise US tariffs

On the side of the trade conflict, Chinese Finance Minister Liu Kun said on Friday that China will continue to retaliate and react to the United States as more trade tariffs are introduced. The retaliatory measures are carefully planned to reduce the impact on Chinese companies and their employees, Kun said.

"If the United States continues to take these measures, we will take the necessary measures to protect our interests," said Chinese Finance Minister Liu Kuon, adding that China will support citizens affected by the trade dispute.

The trade dispute between the United States and China saw tensions rise earlier this week as a new 16-billion-dollar tariff on Chinese goods was imposed. The White House announced that the final round of negotiations ended without any real breakthrough.

 Asian stocks close
  • In Japan, the Nikkei 225 index gained 0.66% at 6:00 am CET.
  • The Shanghai Composite Index was down 0.35% at 5:30 am CET.
  • While the Shenzhen Composite Index fell 0.45% at 6:16 CET.
  • Hong Kong's Hang Seng Index closed down 0.69% at 6:05 am CET.
  • The South Korean composite index was flat at 6:22 am CET.
  • The Australian S & P / ASX 200 rose 0.25% at 6:23 am CET.

The dollar jumped 0.15% against the yen, trading against 111.4555 yen at 6:27 CET.

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