Australia: Shares end down as new US-China tariffs trigger caution

Australian shares, led by energy stocks, edged lower on Monday, with investors unsettled by the latest blows traded by the United States and China in their tariff war.[SYDNEY] Australian shares, led by energy stocks, edged lower on Monday, with investors unsettled by the latest blows traded by the United States and China in their tariff war.

The"level of trust from both sides has deteriorated substantially following rounds of tariff escalation," Mizuho analysts said in a note to clients. The S&P/ASX 200 index slipped 0.4 per cent to 6,579.40 at the close of trade, following a 1.5 per cent climb on Friday. The energy index dropped a percent as the heightened trade war tensions hit oil prices, due to concerns that demand for crude will suffer if global growth slows.Oil and gas heavyweights Santos and Woodside Petroleum slipped about 1 per cent each at close, while Oil Search ended the session about 1.4 per cent lower.Financial stocks ended about 0.3 per cent lower, with three of the"big four" lenders trading down.

New Zealand's benchmark S&P/NZX 50 index finished 0.4 per cent higher at 10,800.00, buoyed by Ryman Healthcare and Contact Energy's about 3 per cent gain.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China rebukes EU, US politicians for interfering on Hong KongBEIJING (BLOOMBERG) - China accused some US and European politicians of interfering in its domestic affairs after they commented on Hong Kong demonstrations that were deemed as supportive of protesters.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

China, US kick off new round of tariffs in trade warChina and the United States began imposing additional tariffs on each other's goods on Sunday, the latest escalation in a bruising trade war, but U.S.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

China, US to collect additional tariffs on each other's goodsChina and the United States will begin imposing additional tariffs on each other's goods on Sunday, the latest escalation in a bruising trade war ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Musk’s China charm offensive yields Tesla tax break, publicity[BEIJING] Elon Musk‘s charm offensive in China appears to have paid off. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

China sets yuan midpoint at new 11.5-year low after new round of tariffsSHANGHAI: China's central bank set its official yuan midpoint at a fresh 11-and-a-half year low on Monday (Sep 2) after Beijing and Washington ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Solomon Islands eyes shift in diplomatic ties to China from TaiwanSYDNEY: The Solomon Islands, one of Taiwan's few remaining diplomatic allies, has formed a team of ministers to talk to Beijing ahead of a ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »