Asian Shares Under Pressured, Skepticism Towards Trade War

Nov 11,2019

During the last week, we’ve covered recent trade optimism and its impact on the market. However, at the start of the new week, market sentiment changed from previous risk-on mode towards a more conservative stance.

One of the main events that contributed to the change in market sentiment was comments from US President Donald Trump. Previous news reported that both the US and China had agreed upon to rollback tariffs on each other’s goods. However, Trump said that the rollback is precisely what China wants, but he has not agreed to it.

The comment immediately caused a sell-off in the shares market, as previous support from trade optimism now jeopardized. Investors are now waiting for further confirmation regarding the utmost confidence in the signage of the phase one trade deal.

Besides that, today’s current situation in Hong Kong inflicted significant pressure on the Asian shares’ market. The ongoing tensions caused investors to quickly shift from Asian stocks market back into safe-havens. During the Asian trading session, China A50 Index and Hong Kong Hang Seng Index (HSI) both plunging more than 2%, while safe-haven gold holding grounds above its $1,460 handle.

Previous article: Market Toyed By Trade Sentiment

Next article : Market’s Spotlight Stolen by The Great Britain Pound (GBP)

Asian Shares Under Pressured, Skepticism Towards Trade War

MAIL