Shares in Asia fell
Publish Date : 2019/08/07 - 06:21

Asian stocks also fell on Wednesday amid fears of a heightened trade war between the US and China, though those concerns were partly eased by a White House assurances that it was keen to move forward negotiations.

Chinese efforts to keep the yuan stable also lowered investors' concerns about the possibility of a currency war, and the yuan fell slightly during the first day's trading.

Japan's Nikkei index fell 0.4% in the wake of concerns about stronger yen and pressure on exporters.

The Shanghai stocks changed little after yesterday's sell-off.

Hong Kong's Hang Seng index fell 0.4%.

However, sales pressure has been lower due to the intensification of tensions.

Sales of riskier assets have also declined after the Chinese yuan has stabilized.

Wednesday’s yuan fixing was weaker, however, and just a hair away from the key 7 per dollar level, keeping markets nervous about China’s intentions.

White House economic adviser Larry Kudlow has said the United States wants to continue trade talks with China and is planning to invite Chinese delegates to the talks in September.

Goldman Sachs' estimate of the trade deal is that there will be no deal before the November 2020, US presidential election. Morgan Stanley has warned that retaliatory tariffs will lead to a recession by middle of next year.

Source: Reuters

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