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Asian shares slip on trade war anxiety, yuan steadies


Wednesday, 4 July 2018 15:22 WIB

MSCI Asia PacificSaham AsiaBursa Asia


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Asian stocks slipped on Wednesday on heightened anxieties about Sino-U.S. trade tensions ahead Washington's end-of-week deadline to impose tariffs on Chinese imports while the yuan rebounded after China's central bank moved to calm nervous investors.

European shares are expected to follow suit, with spread-betters expecting a fall of 0.2 percent in Germany's DAX and 0.1 percent in Britain's FTSE and France's CAC.

"Global tensions are ratcheting higher by the day, fuelled by the foolish policies of foolish leaders," warned Saxo Bank chief economist Steen Jakobsen in a quarterly outlook.

"Tit-for-tat trade wars and agendas that pander only to self-interest are jeopardising the global economy."

In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.25 percent, a day after it hit a nine-month low. Japan’s Nikkei erased earlier losses to stand flat by late afternoon.

Mainland Chinese shares dropped, with CSI300 Index off 0.7 percent.

Source : Reuters


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