APAC Dealers on Edge

TOKYO — Asian shares were mixed Tuesday as uncertainty mounted over U.S. President Donald Trump’s trade and regulatory policies.

KEEPING SCORE: Japan’s benchmark Nikkei 225 slipped 0.1 percent to 18,877.01 in the morning session. Australia’s S&P/ASX 200 added 0.4 percent to 5,631.00. South Korea’s Kospi fell 0.2 percent to 2,061.25. Hong Kong’s Hang Seng gained 0.3 percent to 22,968.49, while the Shanghai Composite lost 0.1 percent to 3,135.35. Benchmarks rose in Taiwan, Singapore and Indonesia, but fell in the Philippines

TRADE WORRIES: Many Asian nations rely on exports to keep their economies going, so Trump’s latest moves on trade and regulations raised concerns over future access to the U.S. market. Trump signed a memorandum saying the U.S. will withdraw from the Pacific Rim trade pact known as the Trans-Pacific Partnership. He also said he would renegotiate the North American Free Trade Agreement.

THE QUOTE: “The lack of any key U.S. economic data overnight had dealers focused exclusively on the Trump administration’s trade policy and the signing of the executive order to pull out of the TPP,” said Stephen Innes, senior trader at Oanda, of the Trans-Pacific Partnership

The New York Times

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and specialises in Asian currencies at OANDA. After having started his trading career with NatWest Bank, he is based in Singapore as the Head of Trading Asia Pacific with OANDA.Stephen's market views focus on the movement of G-10 and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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