TOKYO - Asian shares fell on Thursday after the United States hit Chinese telecoms giant Huawei with severe sanctions, threatening
Asian shares had steadied in early trade on news that U.S. President Donald Trump was planning to delay tariffs on auto imports, providing much needed relief to markets hit by a flare-up in trade tensions and weak U.S. and Chinese economic data. “There has been an increasing disconnect between Asian markets and U.S. markets over the last six months,” said Nick Twidale, chief operating officer at Rakuten Securities Australia in Sydney.
Also on Wednesday, less than a week after Washington slapped higher tariffs on $250 billion imports from China, U.S. Treasury Secretary Steven Mnuchin said he will likely travel to Beijing soon to continue trade negotiations with Chinese counterparts. In the United States, retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, while industrial production fell 0.5% in April, the third drop this year.The 10-year U.S. Treasuries yield eased to 2.371%, near its 15-month low of 2.340% touched on March 28.Fed funds rate futures are fully pricing in a rate cut by the end of this year and more than a 50 percent chance of a move by September.
“Domestic data is starting to come off. We’ve got increased global concerns as well,” said Rakuten’s Twidale.Against the yen, the dollar dipped a tenth of a percent to 109.49.Oil prices gained on the prospect of mounting tensions in the Middle East hitting global supplies despite an unexpected build in U.S. crude inventories.
KerryPicket It is down less than .5%. That is hardly a 'fall' Wake me up when it moves -1.05%
Looks like the right light went on in the right head.
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