Stocks fall under cloud of trade war

Economy June 20, 2018 01:00


ASIAN stock markets closed in negative territory yesterday amid investors’ concerns over a looming US-China trade war after US President Donald Trump threatened a new round of tariff on US$200 bn worth of imports from China. Japan’s Nikkei Index fell to its lowest since June1, losing 1.77 per cent to 22,278.48 points.

S&P/ASX 200 edged down 2 points or 0.03 per cent to 6,102.1 points, while Australia’s All Ordinaries Index fell 3.90 points or 0.063 per cent to 6,208.90 points.

China’s Shanghai Composite Index dropped 3.78 per cent or 114.08 points to 2,907.82 points. South Korea’s Kospi Composite Index fell for five consecutive trading days and touched its nine-month low yesterday, sliding 1.52 per cent or 36.13 points to 2,340.11 points. Hong Kong’s Hang Seng Index went down 2.78 per cent or 841.34 points to 29,468.15 points.

The Stock Exchange of Thailand Index slid 2.39 per cent or 40.14 points to 1,639.54 points on a turnover of Bt84.63 billion. Top trading stocks were PTT, Airports of Thailand, CP All, PTT Exploration and Production and Siam Cement.

Meanwhile, the European stock market started the trading day in decline yesterday due to the trade dispute between the US and China. The STOXX Europe 600 Index opened with a 0.7 per cent decline to 383.25, while the CAC 40 of France opened at 5,387.81, a decline of 1.15 per cent, and DAX Indexof Germany opened at 12,647.07, a drop of 187.04 or 1.46 per cent.