Mixed Reaction on Asian Stock Markets after Donald Trump’s delay in tariff announcement

Some of the markets are having early gains on Monday while there is an overall mixed reaction on Asian Stock markets when U.S. President Donald Trump announced that he will delay the deadline to 1 March on additional tariffs on Chinese goods. Some oversees market including Australia which is rising to a high of 6,189.60 in early trades. The major miners, Fortescue Metals rose more than 2%, BHP Group is adding 1% and Rio Tinto rose almost to 1%.

Oil stocks are also higher after crude oil prices changed on Friday. Gold miners are also mixed even though gold prices closed higher on Friday 22 Feb. Evolution Mining is down by approximately 2 % but the Newcrest Mining is adding 0.5%.QBE Insurance company’s shares are gaining almost 4%.

In the currency market, there is an up rise in Australian Dollar which is higher against the U.S dollar on Monday after U.S. President Donald Trump announced the delay in additional China tariffs. The local currency was cited at $0.7149, up from $0.7096 on Friday.

Talking about the Japanese market which is now advancing, the benchmark Nikkei 225 Index is adding 134.37 points to 21,559.88, after reaching a high of 21,590.03.

The major exporters like Mitsubishi Electric and Sony are advancing more than 1% each, Panasonic is also adding approximately 1% and Canon is rising by 0.6%. The major automakers like Honda which is now adding more than 1% and Toyota is up 0.2% after the recent down in sales.

Leave a Comment

Your email address will not be published. Required fields are marked *