Trade risks returned to global markets on Monday, following US President Donald Trump's new tariff threats, prompting analysts to recommend profit-taking as the bull run may take a pause.TRADE risks returned to global markets on Monday, following US President Donald Trump's new tariff threats, prompting analysts to recommend profit-taking as the bull run may take a pause.
"Investors are left wondering how much of this latest tweet is real, and how much is show... But as investors are sitting on some pretty nice returns year to date, why not put some away now and maybe come back later if a deal does get done?" Hong Kong's Hang Seng Index dropped 2.9 per cent to 29,209.82, while Singapore's Straits Times Index fell 3 per cent to 3,290.62.
A"Goldilocks" moment in US markets has also boosted optimism, as strong economic growth coincides with contained inflation. The Nasdaq Composite Index reached a new all-time high at the close last Friday, and the S&P 500 narrowly missed a record the same day. Jeffrey Halley, senior market analyst at Oanda, said that while some of Mr Trump's tariff threats have turned out to be empty in the past, he has not made such a threat lately.
"The fates of most economies in South-east Asia are intrinsically twined with China," Mr Halley said.
Source: News Formal (newsformal.com)
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