Asia-Pacific Markets Trade Mixed As Trade Tensions Dent Sentiment
Awaited China’s rate decision at a time when the yuan has come under pressure due to Beijing-Washington trade tensions.
Japan’s benchmark Nikkei 225 fell 0.43% at the start of the day, while the broader Topix index lost 0.35%.
In South Korea, the Kospi index increased 0.11% at the open while the small-cap Kosdaq was flat.
Investors will be keeping a watch on the People’s Bank of China’s loan prime rate verdict, expected later in the day.
Australian and Hong Kong markets were closed for the Easter holiday.Investors are focused on U.S. President Donald Trump’s trade policies, as they continue to roil global markets.
Last week, Trump called for the U.S. Federal Reserve to cut interest rates while adding that the termination of Fed Chair Jerome Powell “cannot come fast enough.” Trump’s comments came after Powell cautioned that ongoing trade tensions could challenge the central bank’s goals of controlling inflation and spurring growth.
U.S. futures fell after all three major benchmarks logged their third weekly decline, in the last four trading weeks.
The broad-based S&P 500 ended Thursday’s session higher, but still finished the holiday-shortened week 1.5% lower.
Meanwhile, the Dow Jones Industrial Average and Nasdaq Composite posted their third consecutive losing session, each declining over 2% in the four-day trading week.
Source: CNBC
