Economic news

Trade tensions persist, stock markets in Asia drop

Asian stock markets mostly in the red zone on Monday, as tensions in world trade show no signs of easing.

asia shares stumble 0306

The White House said that President Donald Trump was more serious than ever with the introduction of punitive tariffs against all imports from Mexico, unless the flow of migrants crossing the border was significantly slowed down. Meanwhile, China has accused the United States of disrupting trade negotiations and said it would not retreat, although it remained open to further negotiations with the United States.

On Monday, the Caixin PMI manufacturing index showed that activity in China’s industrial sector did not change in May, although still in expansion, unlike previous data, which indicated activity in the area of ​​decline.

  • Japanese Nikkei slipped by 0.92 percent to 20,410.88

  • Hong Kong's Hang Seng Index eased by 0.14 percent, to 26,863.80;

  • The Shanghai Composite Index sank by 0.30 percent to 2,890.08;

  • South Korea’s Kospi added 1.22 percent to 2,067.85;

  • Taiwan’s shares edged down by 0.02 percent to 10,500.02;

  • The composite index of Singapore fell by 0.06 percent to 3,116.13;

  • Australia’s ASX 200 lost 1.19 percent to 6,320.50.

Companies, whose shares tumble on Monday: Softbank (-5.64), Sumitomo Mitsui Financial Group (-1.69), Mizuho Financial (-1.95), Fanuc (-3.36), Daikin (-1.97), Takeda (-2.40), Itochu (-2.70), Komatsu (-2.17), Mitsubishi Electric (-2.09), Otsuka Holdings(-2.03), JX Holdings (-2.58), Dai-ichi Life (-1.65), Tokyo Electron (-2.67), Terumo (-2.07), Asahi Kasei (-2.64), Inpex (-2.61), Nomura (-2.89), Marubeni (-2.11), JFE Holdings (-2.45), Toyota Tsusho (-2.23), Familymart Co. (-2.56), Toray Industries (-1.73), Mitsubishi Heavy Industries (-1.74), Daiwa Securities (-3.14), Sumitomo Metal Mining (-2.69), Asahi Glass (-3.29), Sumitomo Dainippon (-3.59), Yaskawa Electric (-2.54), Toto (-4.45), Dai Nippon Printing (-2.25), Hitachi Construction Machinery (-3.20), JGC (-6.00), Yokogawa Electric (-4.02), Shizuoka Bank (-2.67), NGK Insulators (-2.58), Alps Electric (-3.72), Tosoh (-2.76), Kawasaki (-3.25), Sumitomo Heavy Inds. (-3.19), Sumco (-3.82), Marui Group (-2.43), Mitsui OSK Lines (-3.15), Taiyo Yuden -2.56), Kobelco (-3.12), Dainippon Screen (-3.61), Credit Saison (-8.29), Ube Industries (-3.03), Japan Steel Works (-3.39), Furukawa Electric (-3.41), Okuma (-4.71), Oki Electric (-4.71), Nippon Sheet Glass (-5.62), Unitika (-4.34) and others.

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