- China’s National Bureau of Statistics says the economy is in a tough position
- U.S. President not hesitant to “walk out” of trade talks if they’re not favorable
- Stocks in Australia and South Korea posted slight gains
Asian markets on Thursday slid down the path after economic data released by China hinted that the world’s second-largest economy could be in for more difficult times in near future, reports Reuters, March 14, 2018.
Tensions Rise Surrounding U.S. China Trade Talks
Blockchain Reporter informed yesterday how China, Japan, Hong Kong, South Korea, and Australia markets tumbled over concerns surrounding the Brexit deal. The Asian markets fell further down the alley today.
After trading sideways for most of the time on Thursday, MSCI’s broadest index of Asia-Pacific shares excluding Japan plunged 0.2 percent.
Stocks traded mixed in the Chinese markets. Although market data suggested that investment in real estate is steadily picking steam, overall retail sales in China remained on the lower side.
What’s worth highlighting is that official data from China’s National Bureau of Statistics showed that the country’s industrial output growth has declined to a 17-year low.
As a result of disappointing official figures, Shanghai’s SSE Composite index fell 1.2 percent while the blue-chip CSI 300 declined 0.7 percent. It is expected that the Chinese government might intervene to mitigate the impact of pessimistic figures.
Further, according to a report from MarketWatch, published March 14, 2019, U.S President on Wednesday said that while he is optimistic about reaching a deal with China regarding the long-stretched tariff war, he may walk out of it if terms are not to his liking.
“We’re making great deals, or we’re not going to make them at all. We’re going to go (with) tariffs.”
South Korea, Australia Gain; Japan, Hong Kong Decline
Japan’s Nikkei 225 shaved its early morning gains to finish flat at 21,287.02. Similarly, Topix finished the day at 1,588.29 as it receded by 0.24 percent.
South Korea’s Kospi, however, finished the day on a slightly higher note at 2,155.68 as it recorded a marginal gain of 0.34 percent. On the contrary, Hong Kong’s Hang Seng index closed 0.22 percent down.
Far beyond in Oceania, Australia’s ASX 200 index posted slight gains to the tune of 0.3 percent to close the day at 6,179.60.