Asian stocks fall amid Trump trade policy fears, strong yen
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TOKYO — Asian markets slipped in muted trading Friday amid worries over U.S. trade policies that may affect regional economies. A stronger yen weighed on Japan’s exporters.
KEEPING SCORE: Japan’s benchmark Nikkei 225 edged 0.2 per cent lower to 19,339.56, while South Korea’s Kospi fell 0.7 per cent to 2,093.33. Australia’s S&P/ASX 200 dipped 0.8 per cent to 5,739.00. Hong Kong’s Hang Seng stood at 24,028.20, down 0.4 per cent, and the Shanghai Composite index also shed 0.4 per cent to 3,239.40.
TRUMP WORRIES: President Donald Trump’s stance on trade has unnerved many in Asia, as he has repeatedly accused countries like China and Japan of unfair competition and currency manipulation that he says are hurting U.S. jobs.
JITTERY TIMES: “While shares have generally continued to push higher they remain at risk of a short term correction being technically overbought again, and with short term investor sentiment at levels often associated with corrections,” Shane Oliver of AMP Capital said in a commentary.
