{"id":27073,"date":"2018-06-19T11:27:27","date_gmt":"2018-06-19T05:57:27","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=27073"},"modified":"2018-06-19T11:29:30","modified_gmt":"2018-06-19T05:59:30","slug":"tuesday-19th-june-asian-markets-tumble-as-trump-hints-at-more-tariffs","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/tuesday-19th-june-asian-markets-tumble-as-trump-hints-at-more-tariffs\/","title":{"rendered":"Tuesday 19th June: Asian markets tumble as Trump hints at more tariffs."},"content":{"rendered":"<h4>\n\t<span style=\"font-size:14px;\"><strong>Global Markets:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian Stock Markets : Nikkei down 1.55%, Shanghai Composite down 2.95%, Hang Seng down 2.51%, ASX up 0.14%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1285.00 (+0.38%), Silver at $16.48 (+0.21%), Brent Oil at $74.84 (-0.66%), WTI Oil at $65.23 (-0.70%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.880, UK 10-year yield at 1.314, Germany 10-year yield at 0.400<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>News &amp; Data:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(AUD) HPI q\/q -0.70% vs -0.90% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(AUD) CB Leading Index m\/m 0.10% vs 0.30% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) NAHB Housing Market Index 68 vs 70 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Italian Trade Balance 2.94B vs 3.21B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">PBOC injects medium-term liquidity in surprise move as trade war escalates<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Japan Steel Federation Head: Japan Unlikely To Take Retaliatory Action Against US Import Tariffs On Steel And Aluminium<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Kim Jong-un visits China after Trump summit<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Markets Update:<\/strong><\/span><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">A sell-off in Chinese stocks drove Asian equities to a four-month low today, as U.S. President Donald Trump threatened new tariffs on Chinese goods in an escalating tit-for-tat trade war between the world&rsquo;s two biggest economies. . Trump said he has directed the U.S. Trade Representative to identify $200 billion of Chinese goods for additional tariffs at a rate of 10 percent. In turn, China said it would take countermeasures if the U.S. went ahead with the additional tariffs it had threatened.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Greater China markets dropped on the back of that news. Hong Kong&#39;s Hang Seng Index fell more than 2% while on the mainland, the Shanghai composite fell about 3%. The smaller Shenzhen composite sank more than 4%.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Japanese market is extending losses from the previous session following the mixed cues from Wall Street and on a stronger safe-haven yen. The Australian market is rising, with investors shrugging off the mixed global cues, and the markets supported by a rebound in commodity prices.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">In currency markets, China&#39;s yuan skidded to a five-month low. The Australian dollar, often seen as a proxy to China-related trades, brushed a one-year low of $0.7393.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">On the commodities front, oil prices slipped after advancing on Monday. The markets remain volatile ahead of Friday&rsquo;s OPEC meeting at a time when Russia and Saudi Arabia are pushing for higher output. However, some analysts are of the opinion that the increase in production would be smaller than expected.<\/span>\n<\/p>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Building Permits<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Housing Starts<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &#8211; (NZD) GDT Price Index<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:45 PM GMT &#8211; (NZD) Current Account<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; line-height: inherit; font-family: inherit; vertical-align: baseline;\"><a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\" style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline; color: rgb(0, 0, 0); text-decoration-line: none; outline: 0px;\">&amp;more&hellip;<\/a><\/span><\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 1.55%, Shanghai Composite down 2.95%, Hang Seng down 2.51%, ASX up 0.14% Commodities : Gold at $1285.00 (+0.38%), Silver at $16.48 (+0.21%), Brent Oil at $74.84 (-0.66%), WTI Oil at $65.23 (-0.70%) Rates : US 10-year yield at 2.880, UK 10-year yield at 1.314, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/tuesday-19th-june-asian-markets-tumble-as-trump-hints-at-more-tariffs\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 19th June: Asian markets tumble as Trump hints at more tariffs.<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":27074,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=27073"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27073\/revisions"}],"predecessor-version":[{"id":27075,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27073\/revisions\/27075"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/27074"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=27073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=27073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=27073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}