Lola Evans
13 Nov 2019, 17:24 GMT+10
SYDNEY, Australia - Stocks dropped across the board in Asia on Wednesday, with the biggest loser being Hong Kong's Hang Seng.
Investors and traders remain confused about the prospects for a trade deal between China and the U.S. as the American president keeps changing direction in his narrative, as to prospects for a deal.
"I'm absolutely concerned. The clock is ticking," Mike McCarthy, chief market strategist at CMC Markets in Sydney told Reuters Thomson on Wednesday..
"Markets are now expecting substantial progress in the next week or so, and if not, then confidence could crumble. There are diverging interpretations of Trump's comments. I tend to go with commodities like oil and copper because they are plugged in to global demand, so their fall is significant."
The other driver of Asian markets on Wednesday was the broadening civil unrest in Hong Kong. A decision was made on Wednesday that all schools across the province would close on Thursday due to security and transportation concerns.
In Hong Kong the Hang Seng plummeted 493.82 points or 1.82% to 26,571.46.
In Japan the Nikkei 225 closed 200.14 points or 0.85% lower at 23,319.87.
The Australian All Ordinaries was off 51.50 points or 0.75% at 6,805.80.
In China, the Shanghai Composite declined 10.59 points or 0.36% to 2,904.23.
On foreign exchange markets the U.S. dollar was softer. The euro moved up to 1.1013. The British pound edged higher to 1.2857. The Swiss franc firmed to 0.9908. The Japanese yen inched up to 109.07.
The Canadian dollar was a fraction higher at 1.3246. The Australian dollar rose to 0.6845. The New Zealand dollar was sharply higher rising more than 1% to 0.6403.
Overnight on Wall Street, the Dow Jones index was down 5.96 points or 0.02% at 27,685.53.
The Standard and Poor's 500 climbed 4.35 points or 0.14% to 3,091.36.
The `Nasdaq Composite edged up 21.71 points or 0.26% to 8,485.98.
Get a daily dose of Sacramento Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sacramento Sun.
More InformationNEW YORK, New York - A robust jobs market in the U.S. may help the country avoid a recession. Figures ...
TEHRAN (Tasnim) - China Friday said it had taken 'reciprocal' measures against US diplomats in the country, who will have ...
SYDNEY, Australia - Stocks in Asia made a welcome return to the black on Friday, to close out what has ...
BEIJING, China - The Asian Development Bank (ADB) has approved a $300 million results-based lending program with private sector involvement ...
NEW YORK, New York - U.S. stock markets made minor gains on Thursday as speculation over the outcome of trade ...
DUSHANBE, Tajikistan - Tajikistan is reportedly on the cusp of selling a stake in its main industrial concern to a ...
WASHINGTON, DC - U.S. investigators are trying to determine what caused a Saudi air force pilot in the United States ...
TEHRAN (Tasnim) - China Friday said it had taken 'reciprocal' measures against US diplomats in the country, who will have ...
HYDERABAD, India - Four men accused of the rape and murder of a 27-year old woman veterinarian in Hyderabad, India ...
Canada recently voted at the United Nations for the establishment of a Palestinian state. At the same time, Canada reiterated ...
APIA, SAMOA, Pacific Ocean - UN teams are on the ground in Samoa as the country combats a deadly measles ...
PORTLAND, Oregon - Like many Americans, Aaron Cole and his wife had been able to save up a nest egg ...