Investors are waiting for Mr Trump’s post-inauguration speech hoping he will provide some colour to his campaign promises although there are concerns among many Asian markets about his protectionist rhetoric.
“While the inauguration is dominating headlines, simmering on the back burner is the overriding theme of US protectionism, expressly directed at China,” Stephen Innes, senior trader at Oanda, said in a note.
“With so many prominent trade hawks joining the Trump administration, it all points to a massive shift in US trade policy. That does not paint a rosy picture for regional … exporters, nor countries like Australia, which play such a vital role in the global supply chain.”
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