Lola Evans
11 Nov 2019, 16:17 GMT+10
SYDNEY, Australia - Stocks in Asia spent the day sliding on Monday as confused investors tried to make sense of the Trump administration's intentions in relation to its trade dispute with China.
President Donald Trump on Friday denied reports earlier in the day by Chinese officials, and confirmed by U.S. trade officials, that agreement had been reached on deferring some planned tariffs and rolling back others.
"They'd like to have a rollback," the president said. "I haven't agreed to anything. China would like to get somewhat of a rollback, not a complete rollback because they know I won't do it."
Stocks were sold off across the board in China, Japan and Hong Kong. There was particular weakness in the Hong Kong market due to the ongoing protests and news that a protester had been shot in the chest by a police officer.
Only the Australian market finished in the black.
At the close of trading the Nikkei 225 in Japan was down 49.50 points or 0.21% at 23,342.37.
The Australian All Ordinaries rose 43.80 points or 0.64% to 6,8770.00
China's Shanghai Composite lost 54.21 points or 1.83% to 2,909.97.
Worst of all, Hong Kong's Hang Seng dived 724.59 points or 2.62% to 26,926.55..
The U.S. dollar remained strong in the Asian session. The euro was flirting with the 3-week low of 1.1017 it touched on Friday. It last traded around the Sydney close at 1.1024.
The British pound was out of favour at 1.2796. The Japanese yen was changing hands at 109.01, while the Swiss franc dipped to 0.9966.
The Canadian dollar sank to 1.3229. The Australian dollar had little support at 0.6855. The New Zealand dollar dropped to 0;.6347.
Get a daily dose of Salt Lake City Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Salt Lake City Sun.
More InformationSYDNEY, Australia - Hong Kong stocks were the star performer on Asian markets on Thursday. Indices were generally mixed with ...
NEW YORK, New York - U.S. stock indices closed modestly higher on Wednesday after the U.S. Federal Reserve at it's ...
George Laurer, who invented the universal product code, has died at his home in North Carolina. He was 94.The UPC ...
Mumbai (Maharashtra) [India], Dec 12 (ANI): Equity benchmark indices edged higher during early hours on Thursday with metal and pharma ...
Kolkata (West Bengal) [India], Dec 12 (ANI): Former President Pranab Mukherjee on Wednesday said that he is not worried over ...
Taste Holdings' share price fell on Wednesday after it announced it expects to make losses for the half-year ended August ...
WASHINGTON, DC - An executive order issued by President Donald Trump interpreting members of the Jewish religion as part of ...
WASHINGTON - Leading House Democrats unveiled two articles of impeachment against U.S. President Donald Trump on Tuesday, accusing him of ...
BELFAST, Northern Ireland - Rory McIlroy is the latest top golfer to give Saudi Arabia a wide berth, despite being ...
WASHINGTON, DC - The FBI had little evidence to launch the investigation into the Trump presidential campaign, according to U.S. ...
Iran says it has 'repelled' a cyberattack on its e-governance infrastructure that was allegedly 'state-sponsored,' according to the country's telecommunications ...
Melbourne - Draw for Friday's Presidents Cup second-round foursome matches between the International and US teams at Royal Melbourne Golf ...