Home / Asia / Asia markets: US-China trade war, currencies in concentration – CNBC.com

Asia markets: US-China trade war, currencies in concentration – CNBC.com

<!– –>

Asia markets were mostly reduce on Wednesday.

In Hong Kong, a Hang Seng index saw a prejudiced liberation from a progressing waste nonetheless remained reduce by around 0.2 percent as of 3:10 p.m. HK/SIN.

In Australia, a ASX 200 was aloft by 0.32 percent to tighten during 6,146.1, with shares of bullion miners rising. Newcrest Mining saw a benefit of 3.3 percent while Evolution Mining was aloft by 3.8 percent.

The Nikkei 225 slipped by 0.66 percent to tighten during 24,110.96, while a Topix index fell by 1.17 percent to finish a trade day during 1,802.73.

Some strategists, however, are not disturbed about a longer tenure opinion for Japanese stocks.

“If we demeanour during Japan, a economy’s arrange of improving and it’s not theme to a U.S. trade fight right now,” Kevin Leung, an executive executive of investment plan during Haitong International Securities, told CNBC’s “Squawk Box” on Wednesday morning.

“If you’re looking from a longer tenure perspective… I’m not too disturbed about a Japanese market,” he added.

Markets in China and South Korea were sealed for a open holiday.

Japanese autos take a hit

Shares of vital Japanese automakers fell on a behind of bad Sep automobile sales in a U.S., with Toyota descending by 2.94 percent while Honda saw waste of 4.25 percent on Wednesday.

Some analysts, however, contend a dump in automobile sales should not be a vital concern.

“I don’t consider it’s utterly that bad, usually given it’s compared to final Sep that was a unequivocally high month given of a deputy direct from Hurricane Harvey and we see that when we demeanour during a (seasonally practiced annual rate),” Karl Brauer, executive publisher during Kelley Blue Book, told CNBC’s “Street Signs” Wednesday.

The seasonally practiced annual rate refers to a rate composition practical to information in a bid to mislay a impact of anniversary variations.

Sharp offers refurbish on OLED foray

On Wednesday, Japan’s Sharp announced that it would be offered a initial smartphone with an organic light-emitting diode (OLED) shade in Japan after in 2018. The association also pronounced it was looking to sell a OLED screens to other smartphone makers even nonetheless no deals had been reached yet.

Sharp’s entrance comes as it seeks to locate adult with other manufacturers such as South Korea’s Samsung Electronics and LG Display.

Following a announcement, shares of Sharp declined by 1.01 percent for a day while bonds of primogenitor association Hon Hai Precision Industry’s slipped by 0.38 percent.

Commodities and currencies

The U.S. dollar index, that marks a greenback opposite a basket of a peers, was during 95.339 as of 3:15 p.m. HK/SIN, weakening from a progressing high.

The Japanese yen mislaid a progressing gains to trade reduce during 113.82 opposite a U.S. dollar, while a Australian dollar remained reduce during $0.7171, as of 3:17 p.m. HK/SIN.

In a oil markets, prices saw gains in a afternoon of Asian trade. As of 3:19 p.m. HK/SIN, a tellurian benchmark Brent wanton futures agreement was aloft by 0.22 percent during $84.99 per barrel, while a U.S. wanton futures agreement modernized by 0.2 percent during $75.38 per barrel.

The spike in oil prices in new weeks has weighed on a Indonesian rupiah and Indian rupee. As of 3:30 p.m. HK/SIN, a rupiah was during 15,070 per dollar, after progressing touching a weakest turn given 1998.

The rupee also saw a record low of 73.415 opposite a greenback, nonetheless saw a prejudiced liberation and was trade around 73.08 as of 3:34 p.m. HK/SIN.

— Reuters contributed to this report.

News Tips

Article source: https://www.cnbc.com/2018/10/03/asia-markets-us-china-trade-war-currencies-in-focus.html

InterNations.org