Monday, November 18, 2019

Asian stock markets drop as US-China row escalates

Aug 13. 2019
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By Somluck Srimalee
The Nation

1,305 Viewed

Asian stock markets, including the Stock Exchange of Thailand (SET), dropped on Tuesday after the US-China trade war showed signs of escalating and the Hong Kong protests continued, brokerage firms said.

Meanwhile, listed companies in Thailand also announced financial results that were lower than estimated. SET index closed on Tuesday at 1,620.23, dropping by 30.41 points or 1.84 per cent from Friday with a trade value of Bt64.18 billion.

The Hong Kong Hang Seng closed at 25,281.31, recording a 543.42 drop or 2.1 per cent from Monday, over investor concern about the US-China trade war and protests. 

Japan’s Nikki closed at 20,455.44, 229.38 points or 1.11 per cent lower compared to Monday. 

The Singapore FTSE Straits Times Index closed at 3,146.73, 22.21 points or 0.7 per cent lower, while China’s Shanghai Index closed at 2,930.32, or 18.54 points or 0.63 per cent lower compared to Monday. 

Siam Commercial Bank Investment Centre Concept said SET Index has continued to fluctuate because the ongoing US-China trade war is causing uncertainty, which is having a direct impact on regional currencies.

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