{"id":85603,"date":"2018-07-12T06:15:58","date_gmt":"2018-07-12T06:15:58","guid":{"rendered":"http:\/\/www.bnreport.com\/asia-stocks-sag-on-trade-war-fears-dollar-buoyant\/"},"modified":"2018-07-12T06:15:58","modified_gmt":"2018-07-12T06:15:58","slug":"asia-stocks-sag-on-trade-war-fears-dollar-buoyant","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/asia-stocks-sag-on-trade-war-fears-dollar-buoyant\/","title":{"rendered":"Asia stocks sag on trade war fears, dollar buoyant"},"content":{"rendered":"

TOKYO: Asian stocks remained under pressure on Thursday from fears of an escalation in the US-China trade war, while the dollar stood stall after rallying against its peers amid the turmoil in broader markets. <\/p>\n

MSCI's broadest index of Asia-Pacific shares outside Japan<\/a> fell 0.25 per cent. <\/p>\n

The index slumped 1 per cent on Wednesday along with a slide in global equities after US President Donald Trump's threat of imposing tariffs on another $200 billion of Chinese goods deepened the trade row between the world's two largest economies. <\/p>\n

Australian stocks rose 0.35 per cent, South Korea's KOSPI<\/a> was flat and Japan's Nikkei<\/a> gained 0.75 per cent. <\/p>\n

"The markets had some time to digest the latest trade war developments and are poised to begin consolidating. It has become a pattern of reacting to each new development and hoping that trade strains ease in the next few months through negotiations," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management. <\/p>\n

The dollar was buoyant, supported by mounting trade tensions and strong US inflation data. <\/p>\n

The dollar index against a basket of six major currencies was steady at 94.703 after gaining 0.6 per cent overnight. <\/p>\n

Against the yen, which usually gains in times of political tension and market turmoil, the greenback rallied 0.9 per cent on Wednesday to touch a six-month high above 112.00 yen. <\/p>\n

"The dollar has managed to gain even against the yen due to ongoing trade concerns, with commodity-linked currencies having slid along with the downturn in commodities and providing a broad lift for the dollar," said Ichikawa at Sumitomo Mitsui Asset Management. <\/p>\n

Commodity-linked currencies such as the Australian dollar suffered deep losses on Wednesday. The Aussie traded little changed at $0.7366 after dropping 1.2 per cent overnight. <\/p>\n

The Canadian dollar was steady at C$1.3208 per dollar following a loss of 0.75 per cent the previous day. <\/p>\n

The euro was flat at $1.1675 after shedding 0.6 per cent on Wednesday. <\/p>\n

In commodities, US crude futures inched up 0.25 per cent to $70.57 a barrel after tumbling 5 per cent the previous day as trade tensions threatened to hurt oil demand and news that Libya would reopen its ports raised expectations of growing supply. <\/p>\n

Brent crude rose 0.7 per cent to $73.93 a barrel after tanking 6.9 per cent overnight. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

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ET Markets<\/a><\/h5>\n

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TOKYO: Asian stocks remained under pressure on Thursday from..<\/p>\n","protected":false},"author":1,"featured_media":85604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-85603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nAsia stocks sag on trade war fears, dollar buoyant - Business News Report<\/title>\n<meta name=\"description\" content=\"TOKYO: Asian stocks remained under pressure on Thursday from..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/asia-stocks-sag-on-trade-war-fears-dollar-buoyant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asia stocks sag on trade war fears, dollar buoyant - 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