Asian Shares Fall As Sino-us Trade Spat Intensifies

52

TOKYO – Asian shares retreated on Monday after U.S. President Donald Trump cranked up trade tensions with China by going ahead with tariffs on Chinese imports, prompting Beijing to immediately respond in kind.

Fears of a trade war added to pressure on oil prices, which extended Friday’s big fall amid expectations of higher output from OPEC and Russia.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dropped 0.2 percent in early trade, near its lowest level since May 31. Financial markets in China and Hong Kong will be closed on Monday for Dragon Boat festival holiday.




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.