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Asian stocks follow Wall Street lower on trade war fears


Added 07-18-19 12:04:02am EST - “Asian stock markets on Thursday followed Wall Street lower after President Donald Trump reignited trade fears by saying he could impose more tariffs on Chinese imports. Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney all declined.…” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Asian stocks follow Wall Street lower on trade war fears”. Below is an excerpt from the article.

BEIJING (AP) — Asian stock markets on Thursday followed Wall Street lower after President Donald Trump reignited trade fears by saying he could impose more tariffs on Chinese imports.

Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney all declined. Oil rebounded from the previous day's losses.

Trump alarmed investors by saying he had $325 billion of Chinese imports available for additional tariffs "if we want." That shook markets that had been reassured by Trump's agreement with Chinese President Xi Jinping in June to hold off on new trade penalties while they resume negotiations.

The Chinese government warned tariff hikes would "create a new obstacle" in talks on ending their bruising fight over Beijing's technology ambitions.

Trump's comment "cast a dark cloud over lingering concerns on trade talk progress," said Mizuho bank analysts in a report.

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