- Asian equities traders are retreating ahead of Thursday’s expected tariff action.
- Subdued markets are spreading with emerging markets also shaky as the US-China trade war rages on.
Asian equities are once again recoiling ahead of more tariffs between the US and China anticipated in the coming days as the public commenting period on another $200 billion worth of tariffs on Chinese goods from US President Donald Trump’s administration wraps up on Thursday.
Growing market fears about another set of tit-for-tat tariffs between the US and China is sending Asia market indexes reeling once again as traders buckle down ahead of Thursday’s potential tariff launch. Emerging markets are especially vulnerable right now, and an already-shaky global economy is bracing for a deepening trade war that threatens to trim more off the top of still-meager global growth.
Japan’s Nikkei 225 is back -0.41% for Thursday with Tokyo’s Topix down -0.68%, with China’s Shanghai CSI 300 index off by -0.85%. The Hong Kong Hang Seng bourse is also in the red by -1.17%, with Australia’s ASX 200 index down -1.23% and the MSCI broad Pacific-Asia index retreating -1.52%.
Nikkei 225 levels to watch
Japan’s leading equity index has slipped to 22,580.00 as trade fears keep the Asia session subdued, and the Nikkei is falling further away from recent swing highs just above the 23,000.00 technical handle. support is thin until August’s bottoms near 21,800.00, while bulls are struggling to make their way back up towards the year’s highs into the 24,000.00 region.
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